By Suttinee Yuvejwattana, Bloomberg

Thailand expects exports to reach a record $366.8 billion this year as global investment in artificial intelligence fuels demand for electronics made in the country.

The value of outbound shipments is projected to rise 8% from 2025, Trade Policy and Strategy Office Director-General Nantapong Chiralerspong said Tuesday.

Electronics, which now account for nearly one-third of Thailand’s exports, are expected to lead the gains as technology companies ramp up investment in AI infrastructure worldwide.

The country has long been a manufacturing base for electronics, but the AI boom is creating a new source of demand for its exports.

It has also fuelled a rally in Thai technology stocks, helping make the country’s benchmark equity index Southeast Asia’s best performer this year.

The optimistic outlook comes even as export growth moderated to 10.6% in May from a year earlier, down from 23.1% in April.

Officials attributed the slowdown largely to weaker shipments of agricultural products and a high base of comparison a year earlier.

Imports also eased, rising 35.1% in May after a 45% increase in April. As a result, Thailand’s trade deficit narrowed to $5.7 billion from a record $10 billion a month earlier.

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