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2023
Flag → Flag
Exports $821MRnk 41 / 216
2023
Flag → Flag
Top Product $101MRubber Tires
2023
Flag → Flag
Exports $687MRnk 43 / 137
2023
Flag → Flag
Top Product $191MMixed Mineral or Chemical Fertilizers
2023
Flag
Economic Complexity (ECI) ECI 0.96Rnk 29 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.3Rnk 50 / 132
2023
Flag  
GDP$515BCURRENT US$
Rnk 26 / 195
2013-2023
Flag
GDP GROWTH22.5%CURRENT US$
Rnk 133 / 195
2023
Flag
 GDP$2.02TCURRENT US$
Rnk 11 / 195
2013-2023
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GDP GROWTH-11.8%CURRENT US$
Rnk 183 / 195
2023
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GDP PC $7,182CURRENT US$
Rnk 102 / 195
2013-2023
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GDP PC GROWTH19.3%CURRENT US$
Rnk 103 / 195
2023
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GDP PC$13,817CURRENT US$
Rnk 74 / 196
2013-2023
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GDP PC GROWTH-13.3%CURRENT US$
Rnk 170 / 195

About

Thailand-Russia Trade: In 2023, Thailand exported $821M to Russia. The main products that Thailand exported to Russia were Rubber Tires ($101M), Aircraft parts (gliders, balloons, and powered aircraft) ($82.2M), and Gas Turbines ($45.8M). Over the past 5 years the exports of Thailand to Russia have decreased at an annualized rate of 15%, from $1.85B in 2018 to $821M in 2023.

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

Russia-Thailand Trade: In 2023, Russia exported $687M to Thailand. The main products that Russia exported to Thailand were Mixed Mineral or Chemical Fertilizers ($191M), Semi-Finished Iron ($101M), and Raw Aluminium ($84.1M). Over the past 5 years the exports of Russia to Thailand have decreased at an annualized rate of 17%,  from $1.75B in 2018 to $687M in 2023.

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.

Comparison: In 2023,  Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B). That same year, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Thailand exported $821M to Russia. The main products exported from Thailand to Russia were Rubber Tires ($101M), Aircraft parts (gliders, balloons, and powered aircraft) ($82.2M), and Gas Turbines ($45.8M). During the last 5 years the exports of Thailand to Russia have decreased at an annualized rate of 15%, from $1.85B in 2018 to $821M in 2023.

In 2018, Russia exported $687M to Thailand. The main products exported from Russia to Thailand were Mixed Mineral or Chemical Fertilizers ($191M), Semi-Finished Iron ($101M), and Raw Aluminium ($84.1M). During the last 5 years the exports of Russia to Thailand have decreased at an annualized rate of 17%, from $1.75B in 2023 to $687M in 2018.

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

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

Latest Data

Trade between Thailand (Flag) and Russia (Flag)

Thailand Exports

Russia Exports

Market Competitiveness

Color
Thailand
Top DestinationUnited States$58.5B
Russia
Top DestinationChina$129B

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

In 2023, countries that imported more from Thailand than Russia included United States ($58.5B), Japan ($24.9B), and Australia ($13.5B).

In 2023, countries that imported more from Russia than Thailand included China ($129B), India ($66.1B), and Turkey ($31B).

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

Comparative Advantage Thailand - Russia

Flow
Scale

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

During 2023, Thailand had a large net trade with Russia in the exports of Machines ($222M), Plastics and Rubbers ($168M), and Foodstuffs ($110M).

During 2018, Russia had a large net trade with Thailand in the exports of Chemical Products ($248M), Metals ($219M), and Mineral Products ($59M).

Potential Exports

Potential Exports

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

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

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.

Service trade data is presented based on availability.

Services Exports from Russia (Flag) to Thailand (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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