Bangkok: Exports in November expanded by 7.1%, marking the 17th consecutive month of growth. The Trade Policy and Strategy Office (TPSO) revealed that exports in November 2025 expanded by 7.1%, continuing growth for 17 consecutive months. Overall, exports for the first 11 months of the year grew by 12.6%. The strengthening Thai baht will impact agricultural and food exports.
According to Thai News Agency, Mr. Nantapong Chiraleartpong, Director of the Trade Policy and Strategy Office (TPSO), disclosed that Thailand’s exports in November 2025 reached US$27,445.6 million (890,204 million baht), marking 17 months of continuous growth. When excluding oil-related products, gold, and strategic materials, the growth was 11.8 percent. Electronics exports, supported by the tech industry’s upward cycle and advances in AI, played a significant role in this growth. However, geopolitical tensions pose future trade uncertainties, with signs of slowdown in markets like China, Japan, and the CLMV countries. Thai agricultural exports are contracting due to natural disasters and global competition. The first 11 months of 2025 saw exports grow by 12.6 percent, with a 13.7 percent increase when excluding certain products.
In November 2025, the total trade value in US dollars showed exports at US$27,445.6 million, a 7.1% increase from the previous year. Imports reached US$30,172.5 million, a 17.6% rise, resulting in a trade deficit of US$2,726.9 million. Year-to-date, exports totaled US$310,706.6 million, a 12.6% increase, while imports amounted to US$315,662.5 million, a 12.4% increase, leading to a trade deficit of US$4,956.0 million.
In Thai baht terms, November 2025 exports were valued at 890,204 million baht, growing by 4.7 percent. Imports amounted to 991,244 million baht, a 15.0 percent increase, resulting in a trade deficit of 101,040 million baht. For the first 11 months of 2025, exports reached 10,207,181 million baht, a 5.2 percent increase, while imports were 10,493,934 million baht, a 5.0 percent rise, resulting in a deficit of 286,753 million baht.
Agricultural and agro-industrial exports contracted by 9.5% year-on-year, impacted by the Thai baht’s appreciation, marking four months of decline. Agricultural products decreased by 15.7%, while agro-industrial products fell by 2.3%, returning to contraction after previous growth. Conversely, canned and processed fruits expanded by 6.6%, achieving 26 months of growth.
Exports of vegetable and animal fats and oils surged by 171.4 percent, marking four months of growth. Fresh and frozen shrimp grew by 20.3 percent, continuing a seven-month streak, while meat and edible parts of animals rose by 55.7 percent for the eighth month. However, products like rice, rubber, and canned seafood faced contractions. The first 11 months of 2025 saw agricultural exports contract by 0.7 percent.
Industrial product exports grew by 12.2 percent year-on-year, marking 20 months of growth. Computers, equipment, and components, along with gems and jewelry, showed significant growth. Conversely, automobiles, rubber products, and chemicals experienced contractions. Overall, industrial goods exports increased by 17.1 percent in the first 11 months of 2025.
Exports to major markets like the US continued to expand, while China, Japan, and CLMV slowed down. Major markets grew by 7.4 percent, with the US market increasing by 37.9 percent. Secondary markets expanded by 7.6 percent, with growth in South Asia and Australia. Other markets, however, contracted by 30.1 percent.
The US market saw a 37.9 percent expansion, maintaining 26 months of growth, driven by computers and equipment. The Chinese market contracted by 7.8 percent, the largest in 14 months, with fresh and dried fruits experiencing a decline. Japan’s market contracted by 8.9 percent, while the European Union market expanded by 12.0 percent.
Looking ahead, December exports are projected at around US$25 billion, with total exports for 2025 expected to reach US$337.2 billion. However, the strengthening baht and global economic challenges could impact growth in 2026. The Ministry of Commerce plans to focus on trade negotiations and enhancing competitiveness amidst global uncertainties.