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2023
Flag → Flag
Exports $2.3BRnk 25 / 216
2023
Flag → Flag
Top Product $268MAir Conditioners
2023
Flag → Flag
Exports $2.59BRnk 46 / 219
2023
Flag → Flag
Top Product $214MTrunks and Cases
2023
Flag
Economic Complexity (ECI) ECI 0.96Rnk 29 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
Flag  
GDP$515BCURRENT US$
Rnk 26 / 195
2013-2023
Flag
GDP GROWTH22.5%CURRENT US$
Rnk 133 / 195
2023
Flag
 GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
Flag
GDP PC $7,182CURRENT US$
Rnk 102 / 195
2013-2023
Flag
GDP PC GROWTH19.3%CURRENT US$
Rnk 103 / 195
2023
Flag
GDP PC$39,003CURRENT US$
Rnk 32 / 196
2013-2023
Flag
GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195

About

Thailand-Italy Trade: In 2023, Thailand exported $2.3B to Italy. The main products that Thailand exported to Italy were Air Conditioners ($268M), Electrical Transformers ($196M), and Precious Stones ($152M). Over the past 5 years the exports of Thailand to Italy have increased at an annualized rate of 4.04%, from $1.88B in 2018 to $2.3B in 2023.

In 2023, Thailand did not export any services to Italy.

Italy-Thailand Trade: In 2023, Italy exported $2.59B to Thailand. The main products that Italy exported to Thailand were Trunks and Cases ($214M), Jewellery ($142M), and Packaged Medicaments ($113M). Over the past 5 years the exports of Italy to Thailand have increased at an annualized rate of 6.24%,  from $1.91B in 2018 to $2.59B in 2023.

In 2020, Italy exported services to Thailand worth $76.3M, with Other business services ($17.2M), Construction services ($15.4M), and Travel ($12.7M) being the largest in terms of value.

Comparison: In 2023,  Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Thailand exported $2.3B to Italy. The main products exported from Thailand to Italy were Air Conditioners ($268M), Electrical Transformers ($196M), and Precious Stones ($152M). During the last 5 years the exports of Thailand to Italy have increased at an annualized rate of 4.04%, from $1.88B in 2018 to $2.3B in 2023.

In 2018, Italy exported $2.59B to Thailand. The main products exported from Italy to Thailand were Trunks and Cases ($214M), Jewellery ($142M), and Packaged Medicaments ($113M). During the last 5 years the exports of Italy to Thailand have increased at an annualized rate of 6.24%, from $1.91B in 2023 to $2.59B in 2018.

Exports from Thailand (Flag) to Italy (Flag) (2023)

Exports from Italy (Flag) to Thailand (Flag) (2023)

Latest Data

Trade between Thailand (Flag) and Italy (Flag)

Thailand Exports

Italy Exports

Market Competitiveness

Color
Thailand
Top DestinationUnited States$58.5B
Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from Thailand than Italy included China ($44.1B), Japan ($24.9B), and Malaysia ($12.5B).

In 2023, countries that imported more from Italy than Thailand included Germany ($71.4B), France ($61.1B), and Spain ($30.1B).

Difference in imports from Italy (Flag) and Thailand (Flag) (2023)

Comparative Advantage Thailand - Italy

Flow
Scale

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

During 2023, Thailand had a large net trade with Italy in the exports of Machines ($923M), Precious Metals ($268M), and Transportation ($261M).

During 2018, Italy had a large net trade with Thailand in the exports of Machines ($767M), Chemical Products ($292M), and Animal Hides ($248M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Thailand Italy+$64.7MMotor vehicles; parts and accessories (8701 to 8705)
Top Product Potential Italy Thailand+$49MPackaged Medicaments

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

In 2020, Italy exported services to Thailand worth $76.3M, with Other business services ($17.2M), Construction services ($15.4M), and Travel ($12.7M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Italy (Flag) to Thailand (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Thailand and Italy. This means that a dot/product with the flag of Thailand indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Thailand.

Product Space of Thailand (Flag) and Italy (Flag) (2023)

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