Thai August exports rise 24.3% on year, close to forecast

Thailand's ​customs-cleared exports rose ‌24.3% in August from a year earlier, the Commerce Ministry said on Friday, just below analysts' expectations.

The ​August ⁠reading compared with a forecast rise of 24.9% in a Reuters poll, and ‌followed an increase of 21.6% the previous month.

Imports rose 25.1% in August from ⁠a year earlier.

Thailand recorded a trade deficit of $2.48 billion in August, compared with a forecast of a $3.9 billion deficit.

August shipments ​to the United States, Thailand's largest market, jumped 48.7% from a ​year ‌earlier, while exports to China rose 15.5%, the ministry said.

​Thai ⁠exports were seen rising until the end of the year, ⁠supported by demand for electronics tied to global AI trends, Natiya Suchinda, deputy director-general of ⁠the ministry's Trade Policy and ​Strategy Office, told a media briefing.

Exports could expand 15% this year, Ms Natiya said.