Thai July exports rise 21.6% y/y, beating forecast as factory output rises

BANGKOK: Thailand’s customs-cleared exports rose 21.6% in July from a year earlier, the commerce ministry said on Thursday, higher than analysts’ expectations.

The July reading compared with a forecast rise of 17.75% in a Reuters poll and followed a 20.8% increase in the previous month. Imports rose 36.7% in July from a year earlier.

Thai exports in 2026 are expected to continue expanding as demand rises for products related to technology and AI, the commerce ministry said.

Thailand recorded a trade deficit of $3.61 billion for July, compared with a poll of a $5.38 billion deficit.

The ministry has forecast exports will grow more than 11% for the year, up from a previous forecast of 8%.

In the first seven months of 2026, exports increased 18.2% year-on-year.

Thailand’s exports rose 12.9% last year.

Thai exports, imports shrink more than expected in April

In July, shipments to the United States, Thailand’s largest market, rose 45.3% from a year earlier, while shipments to China rose 15.2%, the ministry said.

Thailand’s manufacturing production index rose 0.46% in July from a year earlier, stronger than analysts’ forecasts, the industry ministry said.

The July reading compared with a 1.0% year-on-year drop forecast in a Reuters poll, and followed a revised fall of 2.38% the previous month.

The industry ministry has predicted factory output to rise 0.25% this year from a previous forecast of 1.0% to 2.0%.