Japan (JPN) and Thailand (THA) Trade

2023

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Exports $29.6BRnk 6 / 211

2023

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Top Product $2.75BMotor vehicles; parts and accessories (8701 to 8705)

2023

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Exports $24.9BRnk 3 / 216

2023

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About

Japan-Thailand Trade: In 2023, Japan exported $29.6B to Thailand. The main products that Japan exported to Thailand were Motor vehicles; parts and accessories (8701 to 8705) ($2.75B), Integrated Circuits ($2B), and Hot-Rolled Iron ($1.35B). Over the past 5 years the exports of Japan to Thailand have decreased at an annualized rate of 2.19%, from $33.1B in 2018 to $29.6B in 2023.

In 2009, Japan exported services to Thailand worth $5.32B, with Services not allocated ($2.66B), Royalties and license fees ($1.5B), and Transportation ($820M) being the largest in terms of value.

Thailand-Japan Trade: In 2023, Thailand exported $24.9B to Japan. The main products that Thailand exported to Japan were Other Prepared Meat ($1.44B), Integrated Circuits ($1.1B), and Motor vehicles; parts and accessories (8701 to 8705) ($900M). Over the past 5 years the exports of Thailand to Japan have decreased at an annualized rate of 0.071%, from $25B in 2018 to $24.9B in 2023.

In 2020, Thailand exported services to Japan worth $2.36B, with Other business services ($1.26B), Travel ($760M), and Transportation ($233M) being the largest in terms of value.

Comparison: In 2023, Japan ranked 1 in the Economic Complexity Index (ECI 2.07), and 4 in total exports ($766B). That same year, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B).

Latest Trends

November, 2024

About

Overview In November 2024, Japan exported ¥338B and imported ¥304B from Thailand, resulting in a positive trade balance of ¥34.2B. Between November 2023 and November 2024 the exports of Japan have decreased by ¥-4.76B (-1.39%) from ¥343B to ¥338B, while imports decreased by ¥-11B (-3.5%) from ¥315B to ¥304B.

Trade In November 2024, the top exports of Japan to Thailand were Motor vehicles; parts and accessories (8701... (¥24.9B), Commodities not elsewhere specified (¥22.5B), Hot-Rolled Iron (¥15.4B), Integrated Circuits (¥14B), and Precious Metal Compounds (¥9.88B). In November 2024 the top imports of Japan from Thailand were Other Prepared Meat (¥14.6B), Integrated Circuits (¥11.5B), Telephones (¥11.2B), Motor vehicles; parts and accessories (8701... (¥8.4B), and Industrial Printers (¥7.82B).

Origins In November 2024 the exports of Japan were mainly from Aichi (¥78.6B), Chiba (¥49.8B), Kanagawa (¥39.4B), Hyōgo (¥34.8B), and Osaka (¥33.3B), while imports destinations were mainly Tokyo (¥61.9B), Aichi (¥49.5B), Chiba (¥41.1B), Osaka (¥37.3B), and Kanagawa (¥33B).

Growth In November 2024, the decrease in Japan's year-by-year exports to Thailand was explained primarily by an decrease in product exports in Refined Copper (¥-3.83B or -32.2%), Refined Petroleum (¥-3.64B or -82.3%), and Machinery Having Individual Functions (¥-1.02B or -28.7%). In November 2024, the decrease in Japan's year-by-year imports from Thailand was explained primarily by an decrease in product imports in Telephones (¥-9.76B or -46.7%), Reaction and Catalytic Products (¥-3.58B or -44.4%), and Insulated Wire (¥-1.59B or -27.5%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)¥-4.76B(-1.39%)

IMPORT GROWTH (November 2023 - November 2024)¥-11B(-3.5%)

MAIN EXPORTER (November 2024)Aichi¥78.6B

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

To check Thailand and Japan 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 2023, Japan exported $29.6B to Thailand. The main products exported from Japan to Thailand were Motor vehicles; parts and accessories (8701 to 8705) ($2.75B), Integrated Circuits ($2B), and Hot-Rolled Iron ($1.35B). During the last 5 years the exports of Japan to Thailand have decreased at an annualized rate of 2.19%, from $33.1B in 2018 to $29.6B in 2023.

In 2018, Thailand exported $24.9B to Japan. The main products exported from Thailand to Japan were Other Prepared Meat ($1.44B), Integrated Circuits ($1.1B), and Motor vehicles; parts and accessories (8701 to 8705) ($900M). During the last 5 years the exports of Thailand to Japan have decreased at an annualized rate of 0.071%, from $25B in 2023 to $24.9B in 2018.

Exports from Japan () to Thailand () (2023)

Exports from Thailand () to Japan () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Japan
Top DestinationUnited States$143B

Thailand
Top DestinationUnited States$58.5B

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

In 2023, countries that imported more from Japan than Thailand included China ($138B), United States ($143B), and Chinese Taipei ($43B).

In 2023, countries that imported more from Thailand than Japan included Cambodia ($6.19B), Laos ($4.64B), and Burma ($4.31B).

Difference in imports from Thailand () and Japan () (2023)

Comparative Advantage Japan - Thailand

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Japan had a large net trade with Thailand in the exports of Machines ($11B), Metals ($7.49B), and Transportation ($3.53B).

During 2018, Thailand had a large net trade with Japan in the exports of Machines ($9.14B), Foodstuffs ($3.15B), and Transportation ($2.27B).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Japan Thailand+$182MCars

Top Product Potential Thailand Japan+$299MComputers

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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Bilateral Service Trade

Tha Year

Jpn Year

In 2009, Japan exported services to Thailand worth $5.32B, with Services not allocated ($2.66B), Royalties and license fees ($1.5B), and Transportation ($820M) being the largest in terms of value.

In 2020, Thailand exported services to Japan worth $2.36B, with Other business services ($1.26B), Travel ($760M), and Transportation ($233M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Japan () to Thailand () (2009)

Services Exports from Thailand () to Japan () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of Japan () and Thailand () (2023)

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