Electronics, such as chips and hard disk drives that are in demand because of the global AI boom, are driving Thai export growth.
Economists recently upgraded Thailand's export growth outlook for 2026, projecting shipments of electronic components will continue to expand amid improving global trade, while elevated oil prices will drive imports to grow at a faster rate.Siam Commercial Bank Economic Intelligence Center (EIC) improved its export growth estimate this year to 7.8% from 0.5%, despite high uncertainty surrounding the US-Iran war.
The upgrade was driven by export growth of 18.9% year-on-year during the first four months of this year, with shipments consistently beating forecasts.
Electronics exports jumped 65% year-on-year in April, bringing export growth for the segment to 57% year-on-year for the first four months.
According to EIC, the World Trade Organization (WTO) and the International Monetary Fund both upgraded their projections for global trade growth to 1.9% and 2.8%, from 0.5% and 2.6%, respectively. The WTO reasoned that trade in artificial intelligence-related items is likely to continue growing, particularly in Asia, which has recorded significant positive effects, while the impact of US import tariffs appears to be lower than previously projected.
