Bangkok: Thailand's trade balance is in a precarious situation, with a significant deficit that demands immediate government intervention, according to Peerawas Somwong, deputy spokesperson of the Kla Tham Party.
According to Thai News Agency, Peerawas has raised alarms over the escalating trade deficit, which he attributes to structural issues that the government and the Ministry of Commerce can no longer obscure with export data. He has urged Deputy Prime Minister and Minister of Commerce, Supajee Suthamphan, to address the public and implement a series of eight measures within a 90-day window to mitigate the crisis. Data from the Ministry of Commerce reveals that in April 2026, Thailand recorded a trade deficit of US$10.02 billion, the highest since 1991. Imports have surged by 45% to US$41.6 billion, resulting in an eight-month consecutive trade deficit, culminating in a cumulative deficit of over US$25.2 billion for the first five months of the year. Notably, the trade imbalance with China has intensified, with a deficit of 679.7 billion baht in the first quarter, a 41% increase. Although imports from China expanded by 25.68%, Thai exports to China grew by a mere 0.70%, with projections suggesting the annual defi cit could exceed 2.2 trillion baht.
Peerawas criticized the Minister of Commerce's approach, suggesting that the ministry celebrates export figures despite acknowledging that 90% of the growth is driven by large corporations. He questioned the position of Thai SMEs within this framework, emphasizing the need for immediate action. The Kla Tham Party has outlined an eight-point plan for the Ministry of Commerce to address the crisis:
1. Implement an emergency trade protection barrier within 90 days.
2. Reassess success metrics beyond export figures alone.
3. Disclose tax negotiation details with the United States to Congress.
4. Facilitate SMEs' effective utilization of FTA benefits.
5. Liberalize the service sector to reduce production costs.
6. Develop a robust energy and logistics security plan.
7. Establish minimum guarantees and performance indicators for SMEs.
8. Open a monthly trade risk dashboard for public access.
Peerawas emphasized that promotion is not policy, and press releases do not equate to achievements. The Ministry of Commerce must focus on the tangible outcomes for Thai producers rather than merely celebrating export volumes. The Kla Tham Party acknowledges that global factors like oil prices are beyond the Minister's control, but insists that the proposed measures fall squarely within the Ministry's purview. The party has vowed to utilize all parliamentary mechanisms to seek accountability if no action is taken within the stipulated timeframe.