Thailand2019 Economic Complexity: 1.05, Rank 31 of 157
2019 Product Exports | Imports: $249B | $209B, 23 of 225 | 24 of 225
2019 Per Capita Product Exports | Imports: $3.57k | $3k, 73 of 219 | 100 of 219
2018 Service Exports | Imports : $81.3B | $55.2B, 12 of 88 | 13 of 88
Overview: In 2019 Thailand was the number 22 economy in the world in terms of GDP (current US$), 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)
Exports: The top exports of Thailand are Office Machine Parts ($16.4B), Cars ($9.55B), Integrated Circuits ($8.73B), Delivery Trucks ($8.23B), and Gold ($7.62B), exporting mostly to United States ($32.2B), China ($29.1B), Japan ($23.8B), Vietnam ($11.8B), and Hong Kong ($11.1B).
In 2019, Thailand was the world's biggest exporter of Rubber ($4.24B), Other Prepared Meat ($2.87B), Other Fruits ($2.28B), Starches ($1.26B), and Dextrins ($782M)
Imports: The top imports of Thailand are Crude Petroleum ($18.3B), Integrated Circuits ($8.5B), Petroleum Gas ($7.09B), Vehicle Parts ($6.15B), and Gold ($5.12B), importing mostly from China ($45.7B), Japan ($28.9B), United States ($13.7B), Malaysia ($13B), and Singapore ($9.03B).
In 2019, Thailand was the world's biggest importer of Steel Bars ($487M)
Location: Thailand borders Burma, Cambodia, Laos, and Malaysia by land and India, Indonesia, and Vietnam by sea.
Top Export (2019): Office Machine Parts, $16.4B
Top Destination (2019): United States, $32.2B
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.
The most recent exports are led by Office Machine Parts ($16.4B), Cars ($9.55B), Integrated Circuits ($8.73B), Delivery Trucks ($8.23B), and Gold ($7.62B). The most common destination for the exports of Thailand are United States ($32.2B), China ($29.1B), Japan ($23.8B), Vietnam ($11.8B), and Hong Kong ($11.1B).
Top Import (2019): Crude Petroleum, $18.3B
Top Origin (2019): China, $45.7B
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.
The most recent imports of Thailand are led by Crude Petroleum ($18.3B), Integrated Circuits ($8.5B), Petroleum Gas ($7.09B), Vehicle Parts ($6.15B), and Gold ($5.12B). The most common import partners for Thailand are China ($45.7B), Japan ($28.9B), United States ($13.7B), Malaysia ($13B), and Singapore ($9.03B).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
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).
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.
*The tariffs applied to imports for Thailand are:
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 highest complexity exports of Thailand according to the product complexity index (PCI) are Machine-tools for non-mechanical removal of material (1.81), Sharpening, honing, lapping, grinding machine tools (1.77), Liquid crystal devices, lasers, optical appliances nes (1.66), Lathes for removing metal (1.64), and Drawing, mathematical, length measuring instruments (1.61). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
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.
Have questions, comments, or concerns?
Send us an e-mail: [email protected]
v4.0.6 ant