Thailand leads the Global South in export product diversity, making it one of the most resilient economies in the developing world, according to a recent report by the United Nations Conference on Trade and Development (UNCTAD). 

The International Institute for Trade and Development (ITD) said Thailand’s score of 1.02 in UNCTAD’s Trade Product Diversity Index underscores the Kingdom’s ability to produce a wide range of exports across agriculture, manufacturing, and higher value-added processed products. The score is the highest among developing economies.

Diversified products and markets give Thailand the flexibility to pivot quickly to alternative buyers when volatility rises, strengthening trade risk management and the ability to adjust and adapt to global policy shifts.

That diversity and flexibility serve as a buffer against shocks and instability, the ITD said.

Suphakit Charoenkul, Director of the ITD, said Thailand and other developing economies in Southeast Asia have been confronted by growing uncertainty stemming from seismic shifts in global trade policy and intensifying geopolitical tensions.

Among the most concerning trends is the increased use of tariffs as a form of trade restriction, Suphakit said. He added that the diversity of Thai exports acts as an important “trade shield.”

The UNCTAD report forecasts that global economic growth in 2025 and 2026 will slow to 2.6 percent. However, this slowdown underscores mounting headwinds in the global economy. Developing economies, including ASEAN, are still expected to show positive momentum, with growth forecast at 4.3 percent in 2025 and 4.2 percent in 2026, positioning them as a key engine supporting global growth.

ASEAN continues to demonstrate resilience and play an important role in global supply chains, Suphakit said.