Thai May exports hit three-year high ahead of US tariff talks

Thai May exports hit three-year high ahead of US tariff talks

The kingdom will begin trade talks with Washington later this week, starting with virtual meetings.

Thailand’s exports climbed 18.4% from a year earlier to US$31 billion. (EPA Images pic)
BANGKOK:
Thai exports rose at their fastest pace for three years in May, driven by shipments to the US, the kingdom’s commerce ministry said today, as President Donald Trump’s threatened tariffs loom.

Exports climbed 18.4% from a year earlier to US$31 billion – the highest monthly value in three years -according to a statement from the ministry.

The jump was led by a 35% surge in shipments to the US as the tariffs loom, with exports to China up 28% and nearly 23% to the Middle East.

Commerce minister Pichai Naripthaphan said in the statement that the increase was helped by rising global demand for technology goods such as computers, hard drives and circuit boards.

Shipments of previously slumped agricultural products such as cassava, durian and mangosteen also picked up after five months of decline.

Thailand’s finance minister said yesterday that the kingdom will begin trade talks with Washington later this week, starting with virtual meetings.

The May figures came a month after the government downgraded its 2025 growth forecast to 2.3%-3.3% from 3.2%-4.2% owing to uncertainty over “reciprocal tariffs”.

Thai exports face a 36% levy on key goods under Trump’s “Liberation Day” tariffs if no agreement is reached to head them off before next month’s deadline.

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