About

Overview In 2022, Thailand was the number 29 economy in the world in terms of GDP (current US$), the number 27 in total exports, the number 25 in total imports, the number 93 economy in terms of GDP per capita (current US$) and the number 29 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Thailand are Office Machine Parts ($19.3B), Integrated Circuits ($14.3B), Cars ($10.8B), Delivery Trucks ($9.36B), and Refined Petroleum ($8.83B), exporting mostly to United States ($53.4B), China ($35.3B), Japan ($24.6B), Vietnam ($13.4B), and Malaysia ($12.7B).

In 2022, Thailand was the world's biggest exporter of Rubber ($5.47B), Other Fruits ($3.94B), Other Prepared Meat ($3.12B), Starches ($1.84B), and Cassava ($1.54B)

Imports The top imports of Thailand are Crude Petroleum ($32.8B), Integrated Circuits ($15B), Gold ($11B), Petroleum Gas ($10.6B), and Broadcasting Equipment ($6.67B), importing mostly from China ($76.3B), Japan ($30.8B), United Arab Emirates ($16.3B), United States ($15.9B), and Malaysia ($14.9B).

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

Latest Trends

Latest Trade

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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Thailand.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Office Machine Parts$19.3B
Top Destination (2022)United States$53.4B

In 2022, Thailand exported a total of $312B, making it the number 27 exporter in the world. During the last five reported years the exports of Thailand have changed by $56B from $256B in 2017 to $312B in 2022.

The most recent exports are led by Office Machine Parts ($19.3B), Integrated Circuits ($14.3B), Cars ($10.8B), Delivery Trucks ($9.36B), and Refined Petroleum ($8.83B). The most common destination for the exports of Thailand are United States ($53.4B), China ($35.3B), Japan ($24.6B), Vietnam ($13.4B), and Malaysia ($12.7B).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Fastest Growing Export Markets (2021 - 2022)
United States$7.74B (+ 17%)
India$2.13B (+ 24.9%)
Singapore$2.09B (+ 23.4%)
Fastest Growing Import Markets (2021 - 2022)
China$7.49B (+ 10.9%)
United Arab Emirates$7.13B (+ 78.2%)
United States$3.58B (+ 29%)

Total Export Growth by Market (2021 - 2022)

Service Trade

Service Trade

Thailand Exports Services (2020)$31B
Thailand Imports Services (2020)$45.3B

In 2020, Thailand exported $31B worth of services. The top services exported by Thailand in 2020 were Miscellaneous business, professional, and technical services ($12B), Personal travel ($11.2B), Transportation ($3.33B), Business travel ($2.29B), and Financial services ($778M).

The top services imported by Thailand in 2020 were Transportation ($18.2B), Miscellaneous business, professional, and technical services ($12.9B), Royalties and license fees ($4.5B), Personal travel ($3.25B), and Insurance services ($2.43B).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)0.96Rank 29 of 133
Economic Complexity (Technology)0.54Rank 40 of 96
Economic Complexity (Research)-0.15Rank 63 of 135

Most Specialized Products by RCA Index

Thailand has a high level of specialization in Rubber Thread (38.8), Cassava (25.7), Rubber (22.5), Starches (19.5), and Sugar Preserved Foods (17.9). Specialization is measured using RCA, an index that takes the ratio between Thailand observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Thailand according to the relatedness index, were Platinum Clad Metals (0.36), Copper Foil (0.33), Telephones (0.32), Other Edible Animal Products (0.32), and Cocoa Beans (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.

Product Space

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 a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Thailand. These are products that tend to be co-exported with the products that Thailand exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Thailand's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨53rd to the 29th⁩ 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.

Explore Rankings

ECI (Trade) Ranking by Country

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