(Oct 26): Thailand’s imports surged at the fastest pace on record in September as higher energy costs and an investment boom in artificial intelligence and advanced electronics drove demand for fuel and capital goods.

Inbound shipments jumped 50.4% from a year earlier, more than twice August’s 25.1% growth rate, Commerce Ministry data showed Monday. Exports also remained exceptionally strong, rising 24%, but failed to keep pace with imports, widening the trade deficit to US$5.9 billion (RM24.1 billion) from US$2.5 billion a month earlier.

Both sides of the trade ledger beat expectations. Import growth exceeded even the most bullish forecast of 41.5% in a Bloomberg survey, while export growth topped the 18% median estimate. Economists had expected a trade deficit of about US$1.8 billion.

Outbound shipments of electronic components jumped 66% in September, helping sustain an export boom that has produced double-digit growth every month since March.

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