Thailand Trade Trends May 2024

According to data released by Thailand’s Ministry of Commerce on June 21, the country's exports grew by 7.2 per cent year on year to USD 26.2 billion in May 2024, while imports fell by 1.7 per cent to USD 25.5 billion in the same period, resulting in a trade surplus of USD 700 million.

During the first five months of 2024, the exports increased by 2.6 per cent to USD 120.5 billion and imports grew by 3.5 per cent to USD 125.9 billion.

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.