Thailand (THA) and Vietnam (VNM) Trade | The Observatory of Economic Complexity

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Thailand-Vietnam Trade: In 2023, Thailand exported $11.2B to Vietnam. The main products that Thailand exported to Vietnam were Refined Petroleum ($988M), Cars ($868M), and Semiconductor Devices ($510M). Over the past 5 years the exports of Thailand to Vietnam have decreased at an annualized rate of 2.54%, from $12.8B in 2018 to $11.2B in 2023.

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

Vietnam-Thailand Trade: In 2023, Vietnam exported $7.74B to Thailand. The main products that Vietnam exported to Thailand were Broadcasting Equipment ($639M), Crude Petroleum ($596M), and Integrated Circuits ($456M). Over the past 5 years the exports of Vietnam to Thailand have increased at an annualized rate of 6.49%, from $5.65B in 2018 to $7.74B in 2023.

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

Comparison: In 2023, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B). That same year, Vietnam ranked 60 in the Economic Complexity Index (ECI 0.067), and 15 in total exports ($424B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Thailand exported $11.2B to Vietnam. The main products exported from Thailand to Vietnam were Refined Petroleum ($988M), Cars ($868M), and Semiconductor Devices ($510M). During the last 5 years the exports of Thailand to Vietnam have decreased at an annualized rate of 2.54%, from $12.8B in 2018 to $11.2B in 2023.

In 2018, Vietnam exported $7.74B to Thailand. The main products exported from Vietnam to Thailand were Broadcasting Equipment ($639M), Crude Petroleum ($596M), and Integrated Circuits ($456M). During the last 5 years the exports of Vietnam to Thailand have increased at an annualized rate of 6.49%, from $5.65B in 2023 to $7.74B in 2018.

Exports from Thailand () to Vietnam () (2023)

Exports from Vietnam () to Thailand () (2023)

Latest Data

Trade between Thailand () and Vietnam ()

Thailand Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Thailand
Top DestinationUnited States$58.5B

Vietnam
Top DestinationUnited States$118B

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

In 2023, countries that imported more from Thailand than Vietnam included Singapore ($13B), Australia ($13.5B), and Malaysia ($12.5B).

In 2023, countries that imported more from Vietnam than Thailand included United States ($118B), China ($85.7B), and Canada ($9.81B).

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

Comparative Advantage Thailand - Vietnam

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Thailand had a large net trade with Vietnam in the exports of Machines ($2.68B), Transportation ($1.57B), and Plastics and Rubbers ($1.28B).

During 2018, Vietnam had a large net trade with Thailand in the exports of Machines ($3.12B), Metals ($659M), and Mineral Products ($612M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Thailand Vietnam+$253MIntegrated Circuits

Top Product Potential Vietnam Thailand+$452MTelephones

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Thailand () to Vietnam () (2023)

Exports from Vietnam () to Thailand () (2023)

Latest Data

Trade between Thailand () and Vietnam ()

Thailand Exports

Market Competitiveness

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

Comparative Advantage Thailand - Vietnam

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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