United Kingdom (GBR) and Thailand (THA) Trade

2022

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Exports $2.06BRnk 32 / 224

2022

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About

United Kingdom-Thailand Trade: In 2022, United Kingdom exported $2.06B to Thailand. The main products that United Kingdom exported to Thailand were Gold ($310M), Integrated Circuits ($280M), and Combustion Engines ($155M). Over the past 5 years the exports of United Kingdom to Thailand have increased at an annualized rate of 1.85%, from $1.88B in 2017 to $2.06B in 2022.

In 2019, United Kingdom exported services to Thailand worth $946M, with Travel ($370M), Other business services ($233M), and Royalties and license fees ($173M) being the largest in terms of value.

Thailand-United Kingdom Trade: In 2022, Thailand exported $4.7B to United Kingdom. The main products that Thailand exported to United Kingdom were Other Prepared Meat ($712M), Jewellery ($337M), and Motorcycles and cycles ($243M). Over the past 5 years the exports of Thailand to United Kingdom have increased at an annualized rate of 2.61%, from $4.13B in 2017 to $4.7B in 2022.

In 2020, Thailand exported services to United Kingdom worth $2.14B, with Other business services ($1.25B), Travel ($589M), and Transportation ($118M) being the largest in terms of value.

Comparison: In 2022, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). That same year, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 27 in total exports ($312B).

Latest Trends

June, 2024

About

Overview In June 2024, United Kingdom exported £129M and imported £241M from Thailand, resulting in a negative trade balance of £112M. Between June 2023 and June 2024 the exports of United Kingdom have increased by £12M (10.3%) from £117M to £129M, while imports decreased by £-268k (-0.11%) from £241M to £241M.

Trade In June 2024, the top exports of United Kingdom to Thailand were Integrated Circuits (£22M), Cars (£14.8M), Combustion Engines (£11.7M), Scrap Aluminium (£8.28M), and Recovered Paper (£4.76M). In June 2024 the top imports of United Kingdom from Thailand were Other Prepared Meat (£57.5M), Jewellery (£15.1M), Telephones (£10.8M), Air Conditioners (£9.15M), and Integrated Circuits (£7.62M).

Origins In June 2024 the exports of United Kingdom were mainly from Felixstowe (£32.8M), London Heathrow Airport (£31.6M), Southampton (£14.5M), Belfast International Airport (£13.5M), and London Gateway (£11.6M), while imports destinations were mainly Felixstowe (£60.6M), Southampton (£50.5M), London Heathrow Airport (£34.1M), and East Midlands Airport (£11.1M).

Growth In June 2024, the increase in United Kingdom's year-by-year exports to Thailand was explained primarily by an increase in product exports in Combustion Engines (£11.3M or 3.06k%), Scrap Aluminium (£6.17M or 293%), and Hard Liquor (£3.78M or 698%). In June 2024, the decrease in United Kingdom's year-by-year imports from Thailand was explained primarily by an decrease in product imports in Air Pumps (£-4.4M or -78%), Other Edible Preparations (£-2.12M or -58.7%), and Precious Stones (£-1.89M or -62.3%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (June 2023 - June 2024)£12M(10.3%)

IMPORT GROWTH (June 2023 - June 2024)£-268k(-0.11%)

MAIN EXPORTER (June 2024)Felixstowe£32.8M

This section shows exports and imports data at subnational level for United Kingdom. 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 Kingdom over time.

To check Thailand and United Kingdom 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 Kingdom exported $2.06B to Thailand. The main products exported from United Kingdom to Thailand were Gold ($310M), Integrated Circuits ($280M), and Combustion Engines ($155M). During the last 5 years the exports of United Kingdom to Thailand have increased at an annualized rate of 1.85%, from $1.88B in 2017 to $2.06B in 2022.

In 2017, Thailand exported $4.7B to United Kingdom. The main products exported from Thailand to United Kingdom were Other Prepared Meat ($712M), Jewellery ($337M), and Motorcycles and cycles ($243M). During the last 5 years the exports of Thailand to United Kingdom have increased at an annualized rate of 2.61%, from $4.13B in 2022 to $4.7B in 2017.

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

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

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United Kingdom
Top DestinationUnited States$61.8B

Thailand
Top DestinationUnited States$53.4B

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

In 2022, countries that imported more from United Kingdom than Thailand included Netherlands ($41.9B), Germany ($40.6B), and Ireland ($32.6B).

In 2022, countries that imported more from Thailand than United Kingdom included Japan ($24.6B), Vietnam ($13.4B), and Malaysia ($12.7B).

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

Comparative Advantage United Kingdom - Thailand

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United Kingdom had a large net trade with Thailand in the exports of Machines ($738M), Precious Metals ($350M), and Chemical Products ($189M).

During 2017, Thailand had a large net trade with United Kingdom in the exports of Machines ($1.35B), Foodstuffs ($986M), and Transportation ($633M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United Kingdom Thailand+$130MGold

Top Product Potential Thailand United Kingdom+$192MComputers

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

Gbr Year

In 2019, United Kingdom exported services to Thailand worth $946M, with Travel ($370M), Other business services ($233M), and Royalties and license fees ($173M) being the largest in terms of value.

In 2020, Thailand exported services to United Kingdom worth $2.14B, with Other business services ($1.25B), Travel ($589M), and Transportation ($118M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom () to Thailand () (2019)

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

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of United Kingdom and Thailand. This means that a dot/product with the flag of United Kingdom 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 Kingdom.

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

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