Overview: In 2019 Thailand was the number 22 economy in the world in terms of GDP (current US$), the number 23 in total exports, the number 24 in total imports,
the number 84 economy in terms of GDP per capita (current US$) and the number 31 most complex economy according to the Economic Complexity Index (ECI)
In 2019, Thailand exported a total of $249B, making it the number 23 exporter in the world. During the last five reported years the exports of Thailand have changed by $12.2B from $236B in 2014 to $249B in 2019.
In 2019 Thailand imported $209B, making it the number 24 trade destination in the world. During the last five reported years the imports of Thailand changed by -$1.5B from $210B in 2014 to $209B in 2019.
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).
*The tariffs applied to imports for Thailand are:1: AANZFTA ASEAN - Australia - New Zealand Free Trade Area52: ASEAN Japan Free Trade Area (ASEAN) Association of Southeast Asian Nations58: ASEAN India Free Trade Area (AIFTA)84: Association of Southeast Asian Nations (ASEAN ) Free Trade Area136: Most Favoured Nation duty rate treatement165: Preferential tariff for Australia184: Preferential tariff for China239: Preferential tariff for India246: Preferential tariff for Japan249: Preferential tariff for Korea, Republic of252: Preferential tariff for Lao PDR254: Preferential tariff for Least Developed Countries277: Preferential tariff for New Zealand289: Preferential tariff for Peru
During the last 20 years Thailand's economy has become relatively más complex, moving from the 75th to the 31st 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.
Thailand has a high level of specialization in Rubber Thread (36.8), Rubber (22.6), Starches (20.5), Cassava (18.9), and Sugar Preserved Foods (18.6). Specialization is measured using RCA, an index that takes the ratio between Thailand observed and expected exports in each product.
The top export opportunities for Thailand according to the relatedness index, are Other Edible Animal Products (0.33), Copra (0.33), Electrical Capacitors (0.32), Knit Gloves (0.32), and Pile Fabric (0.32). 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.
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.