Nantapong Chiralerspong, Director of the Trade Policy and Strategy Office (TPSO), disclosed that Thailand’s international trade in September 2025 saw export value at $30,970.7 million, expanding by 19%—well above market expectations of 7.0-7.2%. This marks the highest growth rate in 42 months and 15 consecutive months of export growth for Thailand.
In terms of value, September’s exports hit a 4-month high since May 2025, when exports were valued at $31,044 million. Imports were valued at $29,695.6 million, rising by 17.2%. Consequently, in September, Thailand posted a trade surplus of $1,275.2 million.
For the first nine months of 2025 (January–September), total exports amounted to $254,146.5 million, up 13.9%, while total imports were $254,575.8 million, up 11.9%. This resulted in a trade deficit of $429.3 million for the period.
The strong double-digit export growth in September was attributed to the recovery of the global economy, relaxed U.S. tariff measures offering clearer conditions, and competitive tariff rates for Thailand compared to trade rivals. Furthermore, the export cycle for electronic goods continues to expand in several markets.
If export values in 4Q25 (October–December) average at least $25–26 billion per month, it is anticipated that Thailand’s total annual exports will grow by 9.4–10.4%, surpassing the previous growth target of 2–3%, to a total value of $329–332 billion.
Nantapong stated that exports for the rest of 2025 are expected to keep growing, though at a slower pace, supported by the expansion in the digital technology sector and continued global demand for processed agricultural products and food. However, several risk factors remain, such as trade war between the U.S. and China, creating pressure and volatility in the global supply chain, as well as the risk of a prolonged U.S. government shutdown, which could impact goods transportation.
The Ministry of Commerce will re-evaluate this year’s export targets in December after consulting with exporters from 10 key sectors and trade attaches worldwide, with an expectation for growth to beat the original 2-3% target.
Additionally, the Ministry is accelerating various policy measures, including negotiating with trading partners to boost imports, expediting Free Trade Agreement (FTA) negotiations, tightening monitoring of goods origins in watch-listed industries, and ensuring fair practices for Thai entrepreneurs to achieve set export targets.
The top 10 export destinations for September 2025 were:
- Switzerland (up 490.4%)
- United States (up 35.3%)
- Russia and CIS (up 32.5%)
- Latin America (up 31.7%)
- South Asia (up 28.6%)
- ASEAN (up 20.4%)
- Canada (up 16.9%)
- European Union (up 11.9%)
- Middle East (up 8.1%)
- Japan (up 6.2%)
Krungsri Securities (KSS) reported that the following export sectors continued to perform well:
1) Processed chicken exports expanded for the 19th consecutive month, up 9.7% in September and 6.9% in the first nine months, benefiting GFPT and CPF stocks.
2) Fresh, chilled, and frozen shrimp exports grew for five months in a row—up 5.9% in September and 1.7% for the nine months—positively impacting CPF, TU, ASIAN, and CFRESH stocks.
3) Sugar exports rebounded, surging by 43% in September and 11.7% for the nine months, supporting KSL, KTIS, and KBS shares.
4) Smartphones, accessories, and components expanded for four consecutive months—up 65% in September and 4.6% over nine months—as did computers and parts, up for 18 consecutive months—by 57.9% in September and 64.5% over nine months—benefitting parts manufacturers such as DELTA, HANA, and CCET.
5) Automobiles and parts expanded 14.6% in September, though for the first nine months, the sector still saw a slight contraction of 0.7%, giving a positive outlook for parts producers like KCE.
KSS advised short-term investment strategy, recommending speculative trading in export stocks with outstanding growth such as GFPT (chicken), CFRESH and CPF (shrimp), and parts makers like DELTA, CCET, and KCE.
