Flag Thailand

Econ Complexity (2018): 0.93, Rank 28 of 137

Product Exports (2018): $262B, Rank 22 of 222

Exports Per Capita (2018): $3.77k, Rank 72 of 219

Product Imports (2018): $227B, Rank 23 of 221

Imports Per Capita (2018): $3.27k, Rank 75 of 219

Service Exports (2018): $81.3B, Rank 12 of 88

Service Imports (2018): $55.2B, Rank 13 of 88

GDP (2018): $505B, CURRENT US$
Rank 25 of 196

GDP growth (2008 - 2018): 73.3%, CURRENT US$
Rank 51 of 196

GDP PC (2018): $7,274, CURRENT US$
Rank 91 of 196

GDP PC GROWTH (2008 - 2018): 66.1%, CURRENT US$
Rank 31 of 196

Overview: In 2018 Thailand was the number 25 economy in the world in terms of GDP (current US$), the number 22 in total exports, the number 23 in total imports, and the number 28 most complex economy according to the Economic Complexity Index (ECI). In 2018, Thailand exported $262B and imported $227B, resulting in a positive trade balance of $34.3B. In 2018, Thailand's exports per capita were $3.77k and its imports per capita were $3.27k.

Trade: The top exports of Thailand are Office Machine Parts ($18.6B), Cars ($10.9B), Integrated Circuits ($9.54B), Delivery Trucks ($9.21B), and Vehicle Parts ($8.23B).

Destinations: Thailand exports mostly to China ($31B), United States ($29.3B), Japan ($24.9B), Vietnam ($13B), and Hong Kong ($12.5B), and imports mostly from China ($45.6B), Japan ($31.6B), Malaysia ($13.9B), United States ($12.8B), and Singapore ($9.86B).

Location: Thailand borders Burma, Cambodia, Laos, and Malaysia by land and India, Indonesia, and Vietnam by sea.

Product Exports

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Top Export (2018): Office Machine Parts, $18.6B

Top Destination (2018): China, $31B

In 2018 Thailand exported a total of $262B, making it the number 22 exporter in the world. During the last five reported years the exports of Thailand have changed by $19.8B from $242B in 2013 to $262B in 2018.

The most recent exports are led by Office Machine Parts ($18.6B), Cars ($10.9B), Integrated Circuits ($9.54B), Delivery Trucks ($9.21B), and Vehicle Parts ($8.23B). The most common destination for the exports of Thailand are China ($31B), United States ($29.3B), Japan ($24.9B), Vietnam ($13B), and Hong Kong ($12.5B).

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Product Imports

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Top Import (2018): N/A, $N/A

Top Origin (2018): China, $45.6B

In 2018 Thailand imported $227B, making it the number 23 trade destination in the world. During the last five reported years the imports of Thailand changed by -$10.1B from $237B in 2013 to $227B in 2018.

The most recent imports of Thailand are led by N/A. The most common import partners for Thailand are China ($45.6B), Japan ($31.6B), Malaysia ($13.9B), United States ($12.8B), and Singapore ($9.86B).

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Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Thailand Exports Services (2018): $81.3B

Thailand Imports Services (2018): $55.2B

In 2018, Thailand exported $81.3B worth of services. The top services exported by Thailand in 2018 were Personal travel ($57.8B), Other business services ($11B), Transportation ($7.69B), Business travel ($2.43B), and Financial services ($781M).

The top services imported by Thailand in 2018 were Transportation ($18.9B), Other business services ($14.1B), Personal travel ($11.2B), Royalties and license fees ($5.27B), and Insurance services ($2.3B).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Thailand. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Thailand are Undenatured ethyl alcohol > 80% by volume (321%) and Milk powder < 1.5% fat (216%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Thailand are:
1: AANZFTA ASEAN - Australia - New Zealand Free Trade Area
52: ASEAN Japan Free Trade Area (ASEAN) Association of Southeast Asian Nations
58: ASEAN India Free Trade Area (AIFTA)
84: Association of Southeast Asian Nations (ASEAN ) Free Trade Area
136: Most Favoured Nation duty rate treatement
165: Preferential tariff for Australia
184: Preferential tariff for China
239: Preferential tariff for India
246: Preferential tariff for Japan
249: Preferential tariff for Korea, Republic of
252: Preferential tariff for Lao PDR
254: Preferential tariff for Least Developed Countries
277: Preferential tariff for New Zealand
289: Preferential tariff for Peru

Economic Complexity

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Economic Complexity Ranking

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During the last 20 years Thailand's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨65th to the 28th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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Thailand has a high level of specialization in Rubber Thread (34.9), Cassava (28.9), Rubber (23.4), Starches (22.1), and Sugar Preserved Foods (19.2). Specialization is measured using RCA, an index that takes the ratio between Thailand observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Thailand according to the product complexity index (PCI) are Machine-tools for non-mechanical removal of material (2.01), Lathes for removing metal (1.9), Gaskets and similar joints of metal sheet (1.86), Silicones in primary forms (1.84), and Polyamides in primary forms (1.71). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Thailand according to the relatedness index, are Broadcasting Accessories (0.32), Electrical Capacitors (0.32), Microphones and Headphones (0.32), Other Edible Animal Products (0.31), and Pile Fabric (0.31). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Thailand is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.