Thailand struck a record high trade deficit in April as imports surged 45% year over year in dollar terms during the month, according to data from the Ministry of Commerce.
The Southeast Asian kingdom recognized a deficit of $10 billion in April, up from $3.04 billion in the year-ago period.
The figure topped a median estimate of a $5.3 billion deficit during the month, Bloomberg reported separately the same day.
Thailand's trade deficit is the widest on record since January 1991's $1.25 billion figure, the news outlet said.
Imports soared to $41.6 billion in April, with electrical circuit boards, electrical machinery and components, jewelry, crude oil, and machinery comprising the top five, in that order, the ministry said.
Exports fell 10% year over year to $31.6 billion, led by computer equipment and parts, jewelry, automobiles, telecommunications equipment, and rubber products, in that order.
In local currency terms, exports jumped 19% year over year to 1.022 trillion baht, while imports surged 40% to 1.363 trillion baht.
The figure led to a trade deficit of 340.7 billion baht, 201% higher than the 113.3 billion baht deficit recorded a year earlier.
January-April cumulative exports jumped 10% to 4.003 billion baht, while imports grew 26% to 4.680 trillion baht, equivalent to a trade deficit of 677.2 billion baht.
Thailand's strong imports and widening trade deficit could continue should energy prices stay high, and artificial intelligence helps boost trade flows, Bloomberg said, citing Trade Policy and Strategy Office director-general Nantapong Chiralerspong.
