In March, Thailand’s export growth exceeded the figure seen in February of 14% year-on-year increase, with the country preparing for tariff discussions with the United States, according to the commerce minister on Monday.
Pichai Naripthaphan, Thailand’s Minister of Commerce, expressed optimism that successful negotiations would sustain the growth of exports, a crucial component of Thailand’s economy. He highlighted the strong bilateral ties between Thailand and the U.S. as a factor for potential success.
Notably, the current 36% tariff on Thai imports is one of the highest imposed by the Trump administration.
The U.S. remains Thailand’s top export destination, representing 18.3% of total exports, equating to $54.96 billion last year. Meanwhile, the U.S. claims its trade deficit with Thailand stands at $45.6 billion.
Thailand’s March export figures are slated to be released on April 24.
