Thailand (THA) and Russia (RUS) Trade | The Observatory of Economic Complexity

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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.

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.

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

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, 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 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 2017, 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 22 years the exports of Russia to Thailand have decreased at an annualized rate of 11.1%, from $1.12B in 1995 to $620M in 2017.

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

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

Latest Data

Trade between Thailand () and Russia ()

Thailand Exports

Date

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Thailand
Top DestinationUnited States$53.4B

Russia
Top DestinationChina$101B

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

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

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

Comparative Advantage Thailand - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Thailand had a large net trade with Russia in the exports of Plastics and Rubbers ($149M), Foodstuffs ($113M), and Machines ($83M).

During 2017, Russia had a large net trade with Thailand in the exports of Mineral Products ($316M), Chemical Products ($260M), and Metals ($231M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

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

Rus Year

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 () to Thailand () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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.

About

Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Thailand () and Russia ()

Thailand Exports

Russia Exports

Market Competitiveness

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

Comparative Advantage Thailand - Russia

Potential Exports

Potential Exports

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Bilateral Service Trade

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

Service Trade

Economic Complexity

Competitive Landscape

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

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