Thailand’s imports surge on gold shipments, outpace exports

2026-03-24 - 05:21

Higher demand for machinery and other capital goods, as well as gold imports contributed to the surge in inbound shipments. (Freepik pic) BANGKOK: Thailand’s inbound shipments soared while exports’ growth slowed, even before the conflict in the Middle East began disrupting global trade and raising costs. Imports jumped 31.8% in February from a year earlier, accelerating from 29.4% in January, and exports moderated to 9.9% from 24.4%, commerce ministry data showed today. The inbound number exceeded the median estimate in a Bloomberg survey of economists, but the outbound figure fell short of even the most pessimistic expectation. With imports outpacing exports for a fifth straight months, Thailand recorded a trade deficit of US$2.8 billion. “Higher demand for machinery and other capital goods as well as gold imports contributed to the surge in inbound shipments, while agricultural commodities weighed on exports,” Natiya Suchinda, deputy head of the ministry’s trade policy and strategy office, said in a briefing today. Thailand is among 16 countries targeted by president Donald Trump’s administration under a Section 301 investigation of the 1974 Trade Act. Alongside its regional peers including Malaysia, Indonesia and Vietnam, Thailand is being scrutinised over concerns of excess industrial capacity. In a separate briefing on Monday, trade negotiations department director general Chotima Iemsawasdikul said Thailand will submit written comments to US authorities by mid-April to defend its position. At the same time, the government will also accelerate free-trade talks with other partners “to broaden its options,” she said.