United Kingdom (GBR) and Thailand (THA) Trade

2023

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Exports $2.55BRnk 28 / 223

2023

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About

United Kingdom-Thailand Trade: In 2023, United Kingdom exported $2.55B to Thailand. The main products that United Kingdom exported to Thailand were Gas Turbines ($700M), Integrated Circuits ($221M), and Combustion Engines ($210M). Over the past 5 years the exports of United Kingdom to Thailand have increased at an annualized rate of 0.24%, from $2.52B in 2018 to $2.55B in 2023.

In 2023, United Kingdom did not export any services to Thailand.

Thailand-United Kingdom Trade: In 2023, Thailand exported $5.39B to United Kingdom. The main products that Thailand exported to United Kingdom were Other Prepared Meat ($773M), Delivery Trucks ($337M), and Jewellery ($323M). Over the past 5 years the exports of Thailand to United Kingdom have increased at an annualized rate of 6.92%, from $3.86B in 2018 to $5.39B in 2023.

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 2023, United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.5), and 14 in total exports ($429B). That same year, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B).

Latest Trends

November, 2024

About

Overview In November 2024, United Kingdom exported £150M and imported £281M from Thailand, resulting in a negative trade balance of £131M. Between November 2023 and November 2024 the exports of United Kingdom have decreased by £-15.9M (-9.58%) from £166M to £150M, while imports increased by £31.4M (12.6%) from £249M to £281M.

Trade In November 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 November 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 November 2024 the exports of United Kingdom were mainly from London Heathrow Airport (£47.6M), Felixstowe (£43.3M), Belfast International Airport (£14.5M), Southampton (£12.3M), and London Gateway (£8.62M), while imports destinations were mainly Felixstowe (£87.8M), Southampton (£47M), London Heathrow Airport (£42.5M), and London Gateway (£23.7M).

Growth In November 2024, the decrease in United Kingdom's year-by-year exports to Thailand was explained primarily by an decrease in product exports in Other Heating Machinery (£-1.24M or -86.5%), Packaged Medicaments (£-962k or -36.9%), and Cleaning Products (£-454k or -77.4%). In November 2024, the increase in United Kingdom's year-by-year imports from Thailand was explained primarily by an increase in product imports in Other Prepared Meat (£16M or 38.7%), Integrated Circuits (£5.11M or 204%), and Preserved Meat (£4.23M or 1.55k%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)£-15.9M(-9.58%)

IMPORT GROWTH (November 2023 - November 2024)£31.4M(12.6%)

MAIN EXPORTER (November 2024)London Heathrow Airport£47.6M

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 2023, United Kingdom exported $2.55B to Thailand. The main products exported from United Kingdom to Thailand were Gas Turbines ($700M), Integrated Circuits ($221M), and Combustion Engines ($210M). During the last 5 years the exports of United Kingdom to Thailand have increased at an annualized rate of 0.24%, from $2.52B in 2018 to $2.55B in 2023.

In 2018, Thailand exported $5.39B to United Kingdom. The main products exported from Thailand to United Kingdom were Other Prepared Meat ($773M), Delivery Trucks ($337M), and Jewellery ($323M). During the last 5 years the exports of Thailand to United Kingdom have increased at an annualized rate of 6.92%, from $3.86B in 2023 to $5.39B in 2018.

Exports from United Kingdom () to Thailand () (2023)

Exports from Thailand () to United Kingdom () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United Kingdom
Top DestinationUnited States$59.7B

Thailand
Top DestinationUnited States$58.5B

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 2023, countries that imported more from United Kingdom than Thailand included Ireland ($29.1B), Germany ($34.6B), and Netherlands ($29.8B).

In 2023, countries that imported more from Thailand than United Kingdom included Japan ($24.9B), Malaysia ($12.5B), and Vietnam ($11.2B).

Difference in imports from Thailand () and United Kingdom () (2023)

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 2023, United Kingdom had a large net trade with Thailand in the exports of Machines ($1.38B), Chemical Products ($218M), and Foodstuffs ($187M).

During 2018, Thailand had a large net trade with United Kingdom in the exports of Machines ($1.72B), Foodstuffs ($1.05B), and Transportation ($896M).

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 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 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 () (2023)

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