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Although overall exports contracted by 5.68% in 2024, Thailand's exports of products governed by the Carbon Border Adjustment Mechanism (CBAM) grew by 29% in the first half of this year. Steel products were the main driver of this growth.
Against the backdrop of global trade moving towards sustainable development, in the first six months of 2025, Thailand's exports of products subject to the EU's Carbon Border Adjustment Mechanism (CBAM) reached US$203.63 million, a year-on-year increase of 29.08%, which is in stark contrast to the overall export contraction of 5.68% in 2024. X65M steel, This demonstrates the potential and adaptability of Thai enterprises before the full implementation of CBAM measures on January 1, 2026.
It is understood that the measure will comprehensively cover six product categories: steel, aluminum and its products, cement, fertilizers, electricity, and hydrogen. X65M steel, Thailand currently exports only two of these product categories to the EU.
Steel and its products: This was the main driver of growth, with exports reaching US$169.78 million in the first half of the year (accounting for 83.38% of Thailand's total exports of CBAM products to the EU), a year-on-year increase of 40.36%, indicating that Thai steel products are competitive and in high demand in the EU market, which prioritizes environmental standards.
Aluminum and its products: Exports amounted to US$33.85 million (accounting for 16.62% of Thailand’s total exports of CBAM products to the EU), a year-on-year contraction of 7.99%, continuing the contraction following the previous year, X65M steel.
Although Thailand's exports to the EU are still relatively small compared to its global exports (accounting for approximately 4.74% of Thailand's global exports of CBAM-related products), their strong growth is a positive sign, confirming that Thailand has the ability to adapt to international standards and the opportunity and potential to export more CBAM-regulated products to the EU in the future.
