2022
Flag  
GDP
$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
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GDP GROWTH
1.45%CURRENT US$
Rnk 164 / 186
2022
Flag
 GDP
$495BCURRENT US$
Rnk 29 / 186
2012-2022
Flag
GDP GROWTH
24.6%CURRENT US$
Rnk 111 / 186
2022
Flag
GDP PC 
$15,345CURRENT US$
Rnk 63 / 186
2012-2022
Flag
GDP PC GROWTH
-0.49%CURRENT US$
Rnk 145 / 186
2022
Flag
GDP PC
$6,909CURRENT US$
Rnk 93 / 186
2012-2022
Flag
GDP PC GROWTH
20.2%CURRENT US$
Rnk 87 / 186

About

Russia-Thailand Trade: In 2022, Russia exported $620M to Thailand. The main products that Russia exported to Thailand were Mixed Mineral or Chemical Fertilizers ($242M), Crude Petroleum ($241M), and Gold ($194M). Over the past 5 years the exports of Russia to Thailand have decreased at an annualized rate of 11.1%, from $1.12B in 2017 to $620M in 2022.

In 2020, Russia exported services to Thailand worth $36.2M, with Transportation ($18.4M), Travel ($6.26M), and Other business services ($5.8M) being the largest in terms of value.

Thailand-Russia Trade: In 2022, Thailand exported $1.2B to Russia. The main products that Thailand exported to Russia were Rubber Tires ($50.2M), Ethylene Polymers ($42.1M), and Cars ($38.9M). Over the past 5 years the exports of Thailand to Russia have increased at an annualized rate of 24.6%,  from $400M in 2017 to $1.2B in 2022.

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

Comparison: In 2022,  Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 27 in total exports ($312B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Russia exported $620M to Thailand. The main products exported from Russia to Thailand were Mixed Mineral or Chemical Fertilizers ($242M), Crude Petroleum ($241M), and Gold ($194M). During the last 5 years the exports of Russia to Thailand have decreased at an annualized rate of 11.1%, from $1.12B in 2017 to $620M in 2022.

In 2017, Thailand exported $1.2B to Russia. The main products exported from Thailand to Russia were Rubber Tires ($50.2M), Ethylene Polymers ($42.1M), and Cars ($38.9M). During the last 22 years the exports of Thailand to Russia have increased at an annualized rate of 24.6%, from $400M in 1995 to $1.2B in 2017.

Exports from Russia (Flag) to Thailand (Flag) (2022)

Exports from Thailand (Flag) to Russia (Flag) (2022)

Market Competitiveness

Color
Russia
Top Destination
China$101B
Thailand
Top Destination
United States$53.4B

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

In 2022, countries that imported more from Russia than Thailand included China ($101B), India ($40.4B), and Turkey ($25.3B).

In 2022, countries that imported more from Thailand than Russia included United States ($53.4B), Australia ($12.6B), and Vietnam ($13.4B).

Difference in imports from Thailand (Flag) and Russia (Flag) (2022)

Comparative Advantage Russia - Thailand

Flow
Scale

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

During 2022, Russia had a large net trade with Thailand in the exports of Mineral Products ($316M), Chemical Products ($260M), and Metals ($231M).

During 2017, Thailand had a large net trade with Russia in the exports of Plastics and Rubbers ($149M), Foodstuffs ($113M), and Machines ($83M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Russia Thailand+$381MCrude Petroleum
Top Product Potential Thailand Russia+$61.8MCars

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 Russia and Thailand. This means that a dot/product with the flag of Russia indicates it has a comparative advantage over Thailand. Similarly, a dot/product with the flag of Thailand indicates it has a comparative advantage over Russia.

Product Space of Russia (Flag) and Thailand (Flag) (2022)

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