Thailand optimistic about export prospects for 2025

With an upbeat export growth projection of about 5% this year, Thailand's Ministry of Commerce and its private sector are optimistic for a further 2-3% growth in 2025, bringing total export value to about $305 billion.

Thai Commerce Minister Pichai Naripthaphan said on Wednesday that the country is in process of negotiating free trade agreements (FTAs) with the EU, South Korea, and several other countries which, if successful, will further boost Thai exports.

He added that Thailand wants to become the production base for modern industries, such as printed circuit boards.

Pichai admitted, however, that there is a new challenge posed by future changes in U.S. trade policy, noting a Thai delegation will visit the U.S., immediately following the inauguration of President-elect Donald Trump, to explain that a large portion of Thai exports to the U.S. market are manufactured by American firms based in Thailand. He said he believes that Thailand will not face higher import tariffs.

Poj Aramwattananont, first vice chairman of the Thai Chamber of Commerce, said he is confident that Thai exports have good prospects next year, but he remains concerned about the unpredictability of U.S. trade policies under a Trump administration.