Thailand Exports Surge 19% in September, Trade Surplus Widens

Thailand's exports surged 19.0% year-on-year in September 2025, marking the fastest growth rate in 42 months and significantly exceeding analysts' expectations of around 7.0%. This increase was driven in part by improved trade relations with the United States, including a framework agreement to eliminate tariffs on about 99% of U.S. goods and a reduction in U.S. tariffs on Thai products to 19%. Exports to the U.S., Thailand's largest market, jumped 35.3% year-on-year. Imports also rose sharply by 17.2%, contributing to a widened trade surplus of $1.28 billion, up from $0.39 billion the previous year. Despite overall export growth, rice shipments declined by 15.6% year-on-year. The strong export and import data suggest resilient demand for Thai goods and a positive outlook for the country's trade balance heading into the final quarter of 2025.