Thailand Trade Trends February 2024

According to data released by Thailand’s Ministry of Commerce on March 26, the country's exports grew by 3.6 per cent year on year to USD 23.3 billion in February 2024, rising for the seventh consecutive month, but slowing down after posting a 10 per cent increase in the previous month.

In the same period, imports expanded by 3.2 per cent year on year to USD 23.9 billion, resulting in a trade deficit of USD 554 million for the month.

Industrial product shipments rose 5.2 per cent year on year in the 2nd month of 2024, driven by a 24.9 per cent rise in computer, equipment, and parts exports.

Despite recent challenges, Thai export growth in key markets signals a positive economic trajectory as the country continues to navigate global trade dynamics with resilience.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2024.