Thailand’s May exports jump 18% ahead of US tariffs deadline

SINGAPORE (ICIS)–Thailand’s overall exports in May jumped by 18.4% year on year to $31 billion, due to front-loaded shipments before the US’ temporary of reciprocal tariffs expires in early July.

The growth in May was the largest since March 2022 and marked the fifth straight month of double-digit gains, preliminary official data showed on Wednesday.

Total shipments to the US – Thailand’s largest exports destination – surged in May by 35.1% year on year, resulting in a trade surplus of $4.6 billion with the world’s biggest economy, according to data released by the Ministry of Commerce.

Thailand’s overall imports rose by 18% year on year to $29.9 billion in May, resulting in a trade surplus of around $1.1 billion.

For the first five months of 2025, total exports rose by 14.9% year on year to $138.2 billion, while imports were up by 11.3% at $139.3 billion.

Without a trade deal, Thailand’s exports to the US will be subject to a much higher tariffs of 36% in early July.

Currently, a temporary moratorium allows Thailand and other nations to benefit from a reduced US tariff rate of 10%.

The looming tariff hike could significantly hit Thailand’s export-driven economy, which relies heavily on markets like the US for goods such as electronics, automotive parts, and agricultural products.

Thai commerce minister Pichai Naripthaphan was quoted by various media as saying on 16 June said that both nations could reach an agreement on possibly setting the US reciprocal tariffs at as low as 10%.

Please also visit US tariffs, policy – impact on chemicals and energy