FX.co ★ Thailand’s Trade Balance Swings to Deficit in January After Strong December Surplus

Thailand’s trade account moved sharply into deficit at the start of 2026, reversing a strong surplus recorded at the end of last year. According to data updated on 27 February 2026, the country posted a trade deficit of 0.70 billion USD in January 2026, a notable turnaround from the 2.70 billion USD surplus registered in December 2025.

The swing of 3.40 billion USD over a single month highlights a marked shift in Thailand’s external trade position following the year-end period. While the December surplus suggested strong export momentum or subdued imports, January’s deficit indicates that the balance between exports and imports has tilted in the opposite direction as the new year began.

Investors and analysts will be closely watching upcoming trade releases to determine whether January’s deficit represents a temporary adjustment after a strong December, or the start of a broader softening in Thailand’s trade performance. The latest figures will likely factor into assessments of the country’s growth outlook, currency dynamics, and external vulnerability in early 2026.