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Thailand's trade deficit widened to USD 3.3 billion in April 2025, up from USD 1.64 billion in the same month last year and significantly above market expectations of a USD 1.2 billion shortfall. It marked the first trade gap in three months, as export growth lagged behind the surge in imports. Exports rose 10.2% year-on-year to USD 25.6 billion, the tenth consecutive month of expansion, though slower than the 17.8% increase in March. The result still exceeded forecasts of a 9.1% gain, as factories rushed to ship goods after President Trump announced a 90-day pause in April on plans to impose a 36% levy on Thai exports. Meanwhile, imports jumped 16.1% to a record high of USD 28.95 billion, accelerating from a 10.2% rise in March and far outpacing expectations of a 7.0% gain. For the first four months of 2025, the country posted a USD 2.2 billion deficit, with exports and imports rising 14.0% and 9.6%, respectively.