2023
Flag  
GDP
$3.57TCURRENT US$
Rnk 5 / 195
2013-2023
Flag
GDP GROWTH
92.1%CURRENT US$
Rnk 19 / 195
2023
Flag
 GDP
$515BCURRENT US$
Rnk 26 / 195
2013-2023
Flag
GDP GROWTH
22.5%CURRENT US$
Rnk 133 / 195
2023
Flag
GDP PC 
$2,481CURRENT US$
Rnk 148 / 195
2013-2023
Flag
GDP PC GROWTH
73.1%CURRENT US$
Rnk 22 / 195
2023
Flag
GDP PC
$7,182CURRENT US$
Rnk 102 / 196
2013-2023
Flag
GDP PC GROWTH
19.3%CURRENT US$
Rnk 103 / 195

About

India-Thailand Trade: In 2023, India exported $5.43B to Thailand. The main products that India exported to Thailand were N/A. Over the past 5 years the exports of India to Thailand have increased at an annualized rate of 1.78%, from $4.97B in 2018 to $5.43B in 2023.

In 2023, India did not export any services to Thailand.

Thailand-India Trade: In 2023, Thailand exported $10.7B to India. The main products that Thailand exported to India were Palm Oil ($784M), Polyacetals ($440M), and Motor vehicles; parts and accessories (8701 to 8705) ($402M). Over the past 5 years the exports of Thailand to India have increased at an annualized rate of 6.09%,  from $7.95B in 2018 to $10.7B in 2023.

In 2023, Thailand did not export any services to India.

Comparison: In 2023,  India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B). That same year, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, India exported $5.43B to Thailand. There were not main exports from India to Thailand in 2023. During the last 5 years the exports of India to Thailand have increased at an annualized rate of 1.78%, from $4.97B in 2018 to $5.43B in 2023.

In 2018, Thailand exported $10.7B to India. The main products exported from Thailand to India were Palm Oil ($784M), Polyacetals ($440M), and Motor vehicles; parts and accessories (8701 to 8705) ($402M). During the last 5 years the exports of Thailand to India have increased at an annualized rate of 6.09%, from $7.95B in 2023 to $10.7B in 2018.

Exports from India (Flag) to Thailand (Flag) (2023)

Exports from Thailand (Flag) to India (Flag) (2023)

Market Competitiveness

Color
India
Top Destination
United States$85.5B
Thailand
Top Destination
United States$58.5B

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

In 2023, countries that imported more from India than Thailand included United States ($85.5B), United Arab Emirates ($28.8B), and Bangladesh ($11.3B).

In 2023, countries that imported more from Thailand than India included China ($44.1B), Japan ($24.9B), and Australia ($13.5B).

Difference in imports from Thailand (Flag) and India (Flag) (2023)

Comparative Advantage India - Thailand

Flow
Scale

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

During 2023, India had a large net trade with Thailand in the exports of Machines ($1.2B), Chemical Products ($820M), and Precious Metals ($750M).

During 2018, Thailand had a large net trade with India in the exports of Machines ($3.21B), Plastics and Rubbers ($1.69B), and Metals ($1.28B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Thailand+$230MRefined Petroleum
Top Product Potential Thailand India+$273MComputers

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

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

Product Space of India (Flag) and Thailand (Flag) (2023)

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