Bangkok: The Ministry of Commerce aims to address the trade deficit by attracting investment to create added value in Thailand and diversify markets. Minister of Finance Supajee is pushing forward with efforts to address the trade deficit by attracting domestic investment to create added value, increasing the use of Thai raw materials and components, and diversifying export markets. This comes after Thailand recorded a trade deficit of over US$35 billion in the first seven months of 2026, with over 70% of imports being raw materials and capital goods for the manufacturing sector.
According to Thai News Agency, Deputy Prime Minister and Minister of Commerce, Supajee Suthamphan, stated that Thailand had a trade deficit of US$35,354.5 million during the first seven months of 2026. She noted that an analysis of the import structure revealed that the majority of the goods were manufacturing-related, not consumer goods.
Capital goods and raw materials or semi-finished products, such as machinery, electronic components, and chemicals, account for 72.9% of total imports. This aligns with the expansion of global manufacturing activity, particularly in the technology, electronics, digital infrastructure, communications, and power industries, in which Thailand is a part of the international production chain.
While consumer goods account for only 9.2% of the total, and considering the trade balance specifically for consumer goods, excluding products related to manufacturing, exports, weapons, and energy, Thailand still has a surplus of US$13,315.6 million. This reflects that the trade deficit in the past has not been primarily caused by imports of consumer goods.
Ms. Supajee stated that solving the trade deficit is not about focusing on reducing imports to equalize import and export figures, but rather about ensuring that trade and investment create more added value for the Thai economy. In particular, foreign investment will be promoted by increasing the use of domestic raw materials and components (local content), utilizing Thai labor, technology transfer, and providing opportunities for Thai entrepreneurs, especially SMEs, to participate more in the supply chain.
At the same time, the Ministry of Commerce will diversify export markets to reduce reliance on major markets and shift relationships with trading partners from mere commodity trade to joint development of new products, industries, and markets. This will leverage each party's strengths to create value and expand markets together.
For China, Thailand proposed adjusting investment models by increasing the use of raw materials, components, and labor in Thailand. This includes jointly developing new industries such as processed food from Thai ingredients, herbal products, and health products for sale in China and third countries. Furthermore, Thailand aims to promote Thai SMEs on Chinese e-commerce platforms to increase direct access to Chinese consumers.
As for the United Arab Emirates (UAE), with which Thailand has a trade deficit due to energy imports, Thailand will continue to seek balance through negotiations for a free trade agreement (FTA), while simultaneously identifying sectors where both countries can leverage their strengths to develop new businesses and markets.
Ms. Supajee stated that the goal is not merely to reduce the trade deficit or equalize import and export values, but rather to ensure that increased trade and investment generate more value, employment, technology transfer, and business opportunities back into Thailand. This will pave the way for Thai entrepreneurs to play a greater role in the supply chain and expand opportunities into new markets in the long term.