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2023
Flag → Flag
Exports $6.07BRnk 15 / 216
2023
Flag → Flag
Top Product $433MRefined Petroleum
2023
Flag → Flag
Exports $8.67BRnk 18 / 142
2023
Flag → Flag
Top Product $1.43BIntegrated Circuits
2023
Flag
Economic Complexity (ECI) ECI 0.96Rnk 29 / 132
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag  
GDP$515BCURRENT US$
Rnk 26 / 195
2013-2023
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GDP GROWTH22.5%CURRENT US$
Rnk 133 / 195
2023
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 GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
GDP PC $7,182CURRENT US$
Rnk 102 / 195
2013-2023
Flag
GDP PC GROWTH19.3%CURRENT US$
Rnk 103 / 195
2023
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GDP PC$33,121CURRENT US$
Rnk 41 / 196
2013-2023
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GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195

About

Thailand-South Korea Trade: In 2023, Thailand exported $6.07B to South Korea. The main products that Thailand exported to South Korea were Refined Petroleum ($433M), Raw Sugar ($362M), and Rubber Tires ($352M). Over the past 5 years the exports of Thailand to South Korea have increased at an annualized rate of 2.09%, from $5.48B in 2018 to $6.07B in 2023.

In 2023, Thailand did not export any services to South Korea.

South Korea-Thailand Trade: In 2023, South Korea exported $8.67B to Thailand. The main products that South Korea exported to Thailand were Integrated Circuits ($1.43B), Coated Flat-Rolled Iron ($367M), and Refined Petroleum ($359M). Over the past 5 years the exports of South Korea to Thailand have decreased at an annualized rate of 1.41%,  from $9.31B in 2018 to $8.67B in 2023.

In 2005, South Korea exported services to Thailand worth $908M, with Services not allocated ($409M), Transportation ($342M), and Travel ($94.9M) 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, South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Thailand exported $6.07B to South Korea. The main products exported from Thailand to South Korea were Refined Petroleum ($433M), Raw Sugar ($362M), and Rubber Tires ($352M). During the last 5 years the exports of Thailand to South Korea have increased at an annualized rate of 2.09%, from $5.48B in 2018 to $6.07B in 2023.

In 2018, South Korea exported $8.67B to Thailand. The main products exported from South Korea to Thailand were Integrated Circuits ($1.43B), Coated Flat-Rolled Iron ($367M), and Refined Petroleum ($359M). During the last 5 years the exports of South Korea to Thailand have decreased at an annualized rate of 1.41%, from $9.31B in 2023 to $8.67B in 2018.

Exports from Thailand (Flag) to South Korea (Flag) (2023)

Exports from South Korea (Flag) to Thailand (Flag) (2023)

Latest Data

Trade between Thailand (Flag) and South Korea (Flag)

Thailand Exports

South Korea Exports

Market Competitiveness

Color
Thailand
Top DestinationUnited States$58.5B
South Korea
Top DestinationChina$162B

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

In 2023, countries that imported more from Thailand than South Korea included Vietnam ($11.2B), Cambodia ($6.19B), and Laos ($4.64B).

In 2023, countries that imported more from South Korea than Thailand included China ($162B), United States ($118B), and Chinese Taipei ($28.2B).

Difference in imports from South Korea (Flag) and Thailand (Flag) (2023)

Comparative Advantage Thailand - South Korea

Flow
Scale

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

During 2023, Thailand had a large net trade with South Korea in the exports of Machines ($1.48B), Foodstuffs ($915M), and Plastics and Rubbers ($816M).

During 2018, South Korea had a large net trade with Thailand in the exports of Machines ($2.85B), Metals ($2.09B), and Plastics and Rubbers ($997M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Thailand South Korea+$353MIntegrated Circuits
Top Product Potential South Korea Thailand+$349MIntegrated Circuits

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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Economic Complexity

Competitive Landscape

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

Product Space of Thailand (Flag) and South Korea (Flag) (2023)

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