On December 30, Nantapong Chiralerspong, Director of the Trade Policy and Strategy Office (TPSO), Ministry of Commerce, disclosed that Thailand’s Export Price Index and Import Price Index for November 2025 continued to expand compared to the same period last year. This was due to higher raw material costs in the electronics and technology product groups, especially key metals, as well as the temporary easing of the U.S.–China trade war.
Meanwhile, Thailand’s imports grew further, driven by supply chain pressures for raw materials used in export product manufacturing. However, global economic and trade uncertainties, geopolitical conflicts, climate change, trade protectionist policies, price competition, and the strengthening of the baht remain potential risks for price expansion in the future.
The export price index for November stood at 111.8, up 1.1% year-on-year. Product groups with increasing prices included the industrial products category, which rose 2.2%, such as gold (in line with the global gold price trend), computers, equipment and parts (benefiting from the upcycle in electronics products to support the growth of AI and data centers), as well as air conditioners and components, due to rising demand caused by global warming and urban expansion.
The agro-industrial products category increased by 0.7%, including canned and processed seafood, pet food (reflecting higher raw material costs), and non-alcoholic beverages (driven by foreign market demand and the health-conscious trend).
Product groups with declining export price indices were mineral and fuel products, which dropped 9.7%, especially refined oil, reflecting concerns over excess supply, and agricultural products, down 4.1%, such as rice (due to price competition from rival countries), as well as rubber and fresh, chilled, frozen, and dried fruit (from increased global market supply).
As for the import price index, November registered 116.8, up 3.8% year-on-year. Prices increased in almost every category: raw materials and semi-finished products were up 7.8% (e.g., gold, metal ores, metal scrap, and electronic equipment—driven by demand from high-tech industries), consumer goods rose 6.6%, and capital goods increased 4.2%, boosted by growth in manufacturing and technology investment.
The vehicle and transport equipment category saw a 0.4% rise, due to increased demand for imported parts for domestic manufacturing and export. The fuel category, on the other hand, dropped by 8.4%, especially crude oil prices, pressured by high supply levels and slowing demand.
Nantapong added that the export and import price index trends for December 2025 are expected to continue expanding, supported by year-end orders in certain markets and rising demand for imported capital goods and raw materials for export-oriented production. However, it will be important to monitor continued global economic uncertainties, geopolitical tensions, trade policies of major partners, oversupply issues in certain agricultural products, and the strengthening of the baht.
