2023
Exports
$338MWorld Rnk 53 / 150
Flag Rnk 150 / 1212
2023
PRODUCT COMPLEXITY IN Crude Petroleum
-2.37Rnk 1015 / 1025
2023
Imports
$31.8BWorld Rnk 10 / 159
Flag Rnk 1 / 1212
2023
ECONOMIC COMPLEXITY of Thailand
0.96Rnk 29 / 132

About

Exports In 2023, Thailand exported $338M in Crude Petroleum, making it the 53rd largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 150th most exported product in Thailand. The main destination of Crude Petroleum exports from Thailand are: Malaysia ($183M), China ($87.7M), Australia ($31M), South Korea ($26.3M), and Singapore ($7.15M).

The fastest growing export markets for Crude Petroleum of Thailand between 2022 and 2023 were Australia ($31M), South Korea ($26.3M), and United States ($3M).

Imports In 2023, Thailand imported $31.8B in Crude Petroleum, becoming the 10th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most imported product in Thailand. Thailand imports Crude Petroleum primarily from: United Arab Emirates ($13.8B), Saudi Arabia ($4.64B), United States ($3.55B), Malaysia ($2.19B), and Indonesia ($1.5B).

The fastest growing import markets in Crude Petroleum for Thailand between 2022 and 2023 were United States ($891M), Brazil ($453M), and Indonesia ($384M).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$338M
IMPORTS (2023)$31.8B
NET TRADE (2023)-$31.5B

In 2023, Thailand exported $338M in Crude Petroleum. The main destinations of Thailand exports on Crude Petroleum were Malaysia ($183M), China ($87.7M), Australia ($31M), South Korea ($26.3M), and Singapore ($7.15M).

In 2023, Thailand imported $31.8B in Crude Petroleum, mainly from United Arab Emirates ($13.8B), Saudi Arabia ($4.64B), United States ($3.55B), Malaysia ($2.19B), and Indonesia ($1.5B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Thailand WERE (2022 - 2023):
Australia$31M (1%)
South Korea$26.3M (328M%)
United States$3M (25M%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Thailand WERE (2022 - 2023):
Malaysia-$141M (-43.4%)
China-$47.5M (-35.1%)
Singapore-$37.8M (-84.1%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Thailand's main exporting competitors in Crude Petroleum were:
In 2023, Thailand's main importing competitors in Crude Petroleum were:

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALChina+ $200M
TOP IMPORT POTENTIALMalaysia+ $813M

Crude Petroleum’s highest export potential is China. With an export gap of $200M.   Crude Petroleum’s highest import potential is Malaysia with an import gap of $813M.

See methodology.

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