Brazil (BRA) and Thailand (THA) Trade | The Observatory of Economic Complexity

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Brazil (BRA) and Thailand (THA) Trade

2022

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Exports $3.58BRnk 24 / 223

2022

→

About

Brazil-Thailand Trade: In 2022, Brazil exported $3.58B to Thailand. The main products that Brazil exported to Thailand were Soybeans ($1.67B), Soybean Meal ($1.33B), and Hydrogen ($53.8M). Over the past 5 years the exports of Brazil to Thailand have increased at an annualized rate of 14.3%, from $1.84B in 2017 to $3.58B in 2022.

In 2022, Brazil did not export any services to Thailand.

Thailand-Brazil Trade: In 2022, Thailand exported $2.21B to Brazil. The main products that Thailand exported to Brazil were Motor vehicles; parts and accessories (8701 to 8705) ($381M), Rubber ($189M), and Engine Parts ($95.6M). Over the past 5 years the exports of Thailand to Brazil have increased at an annualized rate of 7.74%, from $1.53B in 2017 to $2.21B in 2022.

In 2022, Thailand did not export any services to Brazil.

Comparison: In 2022, Brazil ranked 49 in the Economic Complexity Index (ECI 0.36), and 25 in total exports ($341B). That same year, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 27 in total exports ($312B).

Latest Trends

October, 2024

About

Overview In October 2024, Brazil exported $352M and imported $216M from Thailand, resulting in a positive trade balance of $136M. Between October 2023 and October 2024 the exports of Brazil have increased by $173M (96.3%) from $180M to $352M, while imports increased by $78.2M (56.5%) from $138M to $216M.

Trade In October 2024, the top exports of Brazil to Thailand were Soybean Meal ($120M), Soybeans ($43.2M), Niobium, Tantalum, Vanadium and Zirconium Ore ($3.81M), Leather of Other Animals ($3.72M), and Raw Cotton ($2.8M). In October 2024 the top imports of Brazil from Thailand were Motor vehicles; parts and accessories (8701... ($27.3M), Rubber ($10.4M), Telephones ($9.55M), Cars ($8.63M), and Engine Parts ($8.09M).

Origins In October 2024 the exports of Brazil were mainly from Mato Grosso ($75.4M), Bahia ($42.9M), São Paulo ($29.1M), Rio Grande do Sul ($27.6M), and Paraná ($26.5M), while imports destinations were mainly São Paulo ($89.6M), Amazonas ($39M), Santa Catarina ($27.2M), Goiás ($15.3M), and Paraná ($10.6M).

Growth In October 2024, the increase in Brazil's year-by-year exports to Thailand was explained primarily by an increase in product exports in Soybean Meal ($81.7M or 216%), Soybeans ($42.7M or 8.66k%), and Leather of Other Animals ($928k or 33.3%). In October 2024, the increase in Brazil's year-by-year imports from Thailand was explained primarily by an increase in product imports in Telephones ($4.89M or 105%), Rubber Tires ($3.99M or 152%), and Motor vehicles; parts and accessories (8701... ($3.77M or 16%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (October 2023 - October 2024)$173M(96.3%)

IMPORT GROWTH (October 2023 - October 2024)$78.2M(56.5%)

MAIN EXPORTER (October 2024)Mato Grosso$75.4M

This section shows exports and imports data at subnational level for Brazil. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Brazil over time.

To check Thailand and Brazil trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Brazil exported $3.58B to Thailand. The main products exported from Brazil to Thailand were Soybeans ($1.67B), Soybean Meal ($1.33B), and Hydrogen ($53.8M). During the last 5 years the exports of Brazil to Thailand have increased at an annualized rate of 14.3%, from $1.84B in 2017 to $3.58B in 2022.

In 2017, Thailand exported $2.21B to Brazil. The main products exported from Thailand to Brazil were Motor vehicles; parts and accessories (8701 to 8705) ($381M), Rubber ($189M), and Engine Parts ($95.6M). During the last 5 years the exports of Thailand to Brazil have increased at an annualized rate of 7.74%, from $1.53B in 2022 to $2.21B in 2017.

Exports from Brazil () to Thailand () (2022)

Exports from Thailand () to Brazil () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Brazil
Top DestinationChina$90.1B

Thailand
Top DestinationUnited States$53.4B

This map shows whether countries import more from Brazil or Thailand. Each country is colored based on the difference in imports they receive from Brazil and Thailand or the difference in the growth in imports.

In 2022, countries that imported more from Brazil than Thailand included China ($90.1B), Argentina ($15.4B), and Spain ($9.78B).

In 2022, countries that imported more from Thailand than Brazil included Japan ($24.6B), United States ($53.4B), and Australia ($12.6B).

Difference in imports from Thailand () and Brazil () (2022)

Comparative Advantage Brazil - Thailand

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Brazil and Thailand by product, considering products traded by both, Brazil and Thailand.

During 2022, Brazil had a large net trade with Thailand in the exports of Vegetable Products ($1.69B), Foodstuffs ($1.34B), and Chemical Products ($103M).

During 2017, Thailand had a large net trade with Brazil in the exports of Machines ($782M), Transportation ($562M), and Plastics and Rubbers ($475M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Brazil Thailand+$112MCrude Petroleum

Top Product Potential Thailand Brazil+$98.8MMotor vehicles; parts and accessories (8701 to 8705)

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Brazil and Thailand. This means that a dot/product with the flag of Brazil indicates it has a comparative advantage over Thailand. Similarly, a dot/product with the flag of Thailand indicates it has a comparative advantage over Brazil.

Product Space of Brazil () and Thailand () (2022)

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