Thai Agricultural Trade Continues to Grow Amid Global Challenges

Strategic Insights -

Despite facing challenges from the US trade policy and the trade war between major powers, the direction of Thai agricultural trade remains on the rise, especially in the ASEAN and global markets. According to the Office of Agricultural Economics (OAE), the trade value of Thai agricultural products in 2024 reached 2.53 trillion baht, with exports accounting for 1.8 trillion baht, a 5.72 and 8.28 percent increase from the previous year, respectively. Thailand's trade surplus in the ASEAN market has been a key strength of the Thai agricultural sector, with a surplus of 229,687 million baht in 2024.

Key Takeaways:

  • The trade value of Thai agricultural products reached 2.53 trillion baht in 2024, with a 5.72 percent increase from the previous year.
  • Exports of Thai agricultural products reached 1.8 trillion baht in 2024, with an 8.28 percent increase from the previous year.
  • Thailand enjoys a trade surplus in the ASEAN market, with a surplus of 229,687 million baht in 2024.
  • Major export products include rice, sugar, drinking water and non-alcoholic beverages.
  • Major imported agricultural products are mostly animal feed crops and processed products such as cassava, corn, tofu and non-dairy creamer.
  • Thailand's agricultural exports continue to expand in the first quarter of 2025, with a trade surplus with ASEAN of 40,915 million baht.
  • The US trade policy and the trade war between major powers pose a challenge to Thai agricultural trade.
  • OAE recommends Thai entrepreneurs to accelerate product quality development to meet international standards and seek new trade partners to reduce risks.

Statistics:

  • 2.53 trillion baht: the trade value of Thai agricultural products in 2024.
  • 1.8 trillion baht: the export value of Thai agricultural products in 2024.
  • 5.72 percent: the increase in trade value of Thai agricultural products from 2023 to 2024.
  • 8.28 percent: the increase in export value of Thai agricultural products from 2023 to 2024.
  • 229,687 million baht: the trade surplus of Thailand in the ASEAN market in 2024.
  • 40,915 million baht: the trade surplus with ASEAN in the first quarter of 2025.

Sources:

  • Thai News Agency, "Thai Agricultural Trade Continues to Grow Amid Global Challenges", 15 May 2025.
  • Office of Agricultural Economics (OAE), statistics on Thai agricultural trade in 2024 and the first quarter of 2025.