# Thai Baht Slides as Record April Trade Deficit Hits USD 10 Billion

- Link: https://www.thailand-business-news.com/currencies/311194-thai-baht-slides-as-record-april-trade-deficit-hits-usd-10-billion
- Published: 2026-06-08T05:40:00+07:00
- Author: Chloe Zhou

**Thailand’s Baht weakens despite portfolio inflows. A record USD 10.0 billion April
trade deficit, driven by strong imports, pressures the Baht. Authorities warn of
continued weakness if imports remain high, even with AI export growth.**

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## Key Points

 * USD/THB fell to 32.55 despite Thailand’s record April trade deficit of USD10.0bn,
   driven by portfolio inflows.
 * Authorities cautioned that persistent strong imports could pressure the Baht,
   which has already depreciated 3.2% year-to-date.
 * Factors like higher oil prices and strong USD demand are contributing to the 
   Baht’s weakness, overshadowing AI-related export growth.

### Record Trade Deficit Impacts Baht

Commerzbank’s FX analysts note that the **USD/THB exchange rate experienced a decline
to 32.55**, primarily attributed to **portfolio inflows**. This movement occurred
despite Thailand’s April trade deficit widening significantly to a **record USD10.0
billion**. This substantial deficit, considerably exceeding the Bloomberg consensus
of USD5.3 billion, represents the seventh consecutive monthly deficit and marks 
the largest on record. The widening gap between imports and exports is a key concern
for the Thai currency’s stability in the coming period.

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### Import Strength Fuels Baht Pressure

The Director-General of the Trade Policy and Strategy Office, Nantapong Chiralerspong,
has issued a **warning regarding sustained pressure on the Thai Baht (THB)**. This
pressure is directly linked to the **persistence of strong import levels**, which
are contributing to the widening trade deficit. While the government maintains a
base-case forecast for export growth at 3% for the year, with potential ranges from-
3% to +8%, the current import dynamics pose a significant challenge. The Baht has
already seen a **year-to-date depreciation of 3.2% against the US Dollar**, even
with growth in AI-related exports.

### Global Factors and Baht Weakness

Beyond domestic trade imbalances, **external factors are also exerting downward 
pressure on the Thai Baht**. Since mid-April, the currency has demonstrated a **
steady weakening trend**, influenced by **higher global oil prices** and a **robust
demand for the US Dollar**. This combination of factors, including the record trade
deficit and global economic influences, underscores the multi-faceted challenges
facing the THB. Despite some positive export segments, the overall economic picture
suggests continued vulnerability for the Thai currency.

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**Source** : [Thai Baht: Pressured by record deficit against US Dollar – Commerzbank](https://www.fxstreet.com/news/thai-baht-pressured-by-record-deficit-against-us-dollar-commerzbank-202605281952)