United States (USA) and Thailand (THA) Trade

2022

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Exports $12.1BRnk 25 / 219

2022

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About

United States-Thailand Trade: In 2022, United States exported $12.1B to Thailand. The main products that United States exported to Thailand were Crude Petroleum ($2.24B), Integrated Circuits ($1.09B), and Broadcasting Equipment ($905M). Over the past 5 years the exports of United States to Thailand have increased at an annualized rate of 11.1%, from $7.19B in 2017 to $12.1B in 2022.

In 2017, United States exported services to Thailand worth $2.8B, with Travel ($738M), Financial services ($531M), and Royalties and license fees ($472M) being the largest in terms of value.

Thailand-United States Trade: In 2022, Thailand exported $28.7B to United States. The main products that Thailand exported to United States were Office Machine Parts ($7.69B), Broadcasting Equipment ($4.02B), and Rubber Tires ($3.55B). Over the past 5 years the exports of Thailand to United States have increased at an annualized rate of 20.4%, from $11.3B in 2017 to $28.7B in 2022.

In 2020, Thailand exported services to United States worth $4.47B, with Other business services ($2.94B), Transportation ($756M), and Travel ($561M) being the largest in terms of value.

Comparison: In 2022, United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T). That same year, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 27 in total exports ($312B).

Company data: In 2023, leading companies such as Samsung (11.5k), American Omni Trading Company (3.78k), and IKEA Group (3.04k) were at the forefront of exporting goods from Thailand to the United States. Conversely, Thai Samsung Electronics Co.,ltd. (7.4k), Other (6.98k), and Unknown (3.92k) were notable for importing products to Thailand from the United States.

Latest Trends

April, 2024

About

Overview In April 2024, United States exported $1.52B and imported $5.26B from Thailand, resulting in a negative trade balance of $3.74B. Between April 2023 and April 2024 the exports of United States have increased by $303M (24.8%) from $1.22B to $1.52B, while imports increased by $545M (11.6%) from $4.71B to $5.26B.

Trade In April 2024, the top exports of United States to Thailand were Integrated Circuits ($81.5M), Office Machine Parts ($73.4M), Wheat ($55.8M), Recovered Paper ($48.4M), and Semiconductor Devices ($43.8M). In April 2024 the top imports of United States from Thailand were Telephones ($476M), Computers ($472M), Semiconductor Devices ($336M), Rubber Tires ($258M), and Integrated Circuits ($167M).

Origins In April 2024 the exports of United States were mainly from Texas ($609M), California ($168M), Louisiana ($89.5M), Michigan ($88.3M), and Illinois ($44M), while imports destinations were mainly California ($1.18B), Illinois ($530M), Texas ($481M), Georgia ($440M), and Kentucky ($215M).

Growth In April 2024, the increase in United States's year-by-year exports to Thailand was explained primarily by an increase in product exports in Office Machine Parts ($48.1M or 191%), Tanks and Armored vehicles ($40.7M or 225k%), and Petroleum Gas ($32.5M or 202k%). In April 2024, the increase in United States's year-by-year imports from Thailand was explained primarily by an increase in product imports in Semiconductor Devices ($251M or 297%), Telephones ($170M or 55.5%), and Other Electrical Machinery ($122M or 1.25k%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (April 2023 - April 2024)$303M(24.8%)

IMPORT GROWTH (April 2023 - April 2024)$545M(11.6%)

MAIN EXPORTER (April 2024)Texas$609M

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

To check Thailand and United States 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 2022, United States exported $12.1B to Thailand. The main products exported from United States to Thailand were Crude Petroleum ($2.24B), Integrated Circuits ($1.09B), and Broadcasting Equipment ($905M). During the last 5 years the exports of United States to Thailand have increased at an annualized rate of 11.1%, from $7.19B in 2017 to $12.1B in 2022.

In 2017, Thailand exported $28.7B to United States. The main products exported from Thailand to United States were Office Machine Parts ($7.69B), Broadcasting Equipment ($4.02B), and Rubber Tires ($3.55B). During the last 22 years the exports of Thailand to United States have increased at an annualized rate of 20.4%, from $11.3B in 1995 to $28.7B in 2017.

Exports from United States () to Thailand () (2022)

Exports from Thailand () to United States () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$308B

Thailand
Top DestinationUnited States$53.4B

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

In 2022, countries that imported more from United States than Thailand included Canada ($308B), Mexico ($294B), and China ($151B).

In 2022, countries that imported more from Thailand than United States included Cambodia ($8.63B), Burma ($4.7B), and Laos ($4.5B).

Difference in imports from Thailand () and United States () (2022)

Comparative Advantage United States - Thailand

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United States had a large net trade with Thailand in the exports of Machines ($4.45B), Mineral Products ($3.06B), and Transportation ($1.65B).

During 2017, Thailand had a large net trade with United States in the exports of Machines ($27.9B), Plastics and Rubbers ($6.55B), and Foodstuffs ($3.6B).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United States Thailand+$463MCrude Petroleum

Top Product Potential Thailand United States+$621MMotor vehicles; parts and accessories (8701 to 8705)

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

Usa Year

In 2017, United States exported services to Thailand worth $2.8B, with Travel ($738M), Financial services ($531M), and Royalties and license fees ($472M) being the largest in terms of value.

In 2020, Thailand exported services to United States worth $4.47B, with Other business services ($2.94B), Transportation ($756M), and Travel ($561M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United States () to Thailand () (2017)

Services Exports from Thailand () to United States () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of United States () and Thailand () (2022)

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