Tailàndia: Visió econòmica i política
Thailand is an emerging economy and active member of ASEAN; it is very open to international trade, which represents around 134% of its GDP (World Bank, latest data available). According to figures from the Ministry of Commerce, in 2022, the country’s main exports were motor cars, parts and accessories (10%), automatic data processing machines and parts (7.2%), precious stones and jewellery (5.2%), rubber products (4.8%), and refined fuels (3.5%); whereas imports mostly comprised crude oil (11.9%), chemicals (7%), machinery and parts (6.9%), electrical machinery and parts (6.7%), electronic integrated circuits (63%), iron, steel and products (5.1%).
In 2022, the country's main export partners were the U.S. (16.6%), China (12%), Japan (8.6%), Vietnam (4.6%), and Malaysia (4.4%); conversely, imports came chiefly from China (23.5%), Japan (11.4%), the U.S. (5.9%), the UAE (5.7%), and Malaysia (4.8% - data Ministry of Commerce). On the 15th of November 2020, Thailand signed the Regional Comprehensive Economic Partnership (RCEP) with 14 other Indo-Pacific countries. This free trade agreement is the largest trade deal in history, covering 30 per cent of the global economy. It includes the Association of Southeast Asian Nations (ASEAN: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam) and ASEAN’s free trade agreement partners (Australia, China, India, Japan, New Zealand and the Republic of Korea). The RCEP covers goods, services, investment, economic and technical cooperation. It also creates new rules for electronic commerce, intellectual property, government procurement, competition, and small and medium-sized enterprises.
According to WTO data, Thailand exported USD 287 billion worth of goods in 2022 (+5.5% year-on-year), compared with USD 303.1 billion in imports (+13.6%). Concerning services, exports stood at USD 40.5 billion against USD 62.7 billion in imports (+59.5% and +8.3%, respectively). The country had a structurally positive trade balance; however, the trend reversed in 2022, when the World Bank estimated the trade balance to be in deficit by 2.3% of GDP for the first time since 2001. According to preliminary figures by the Ministry of Commerce, throughout 2023, the kingdom's exports declined by 1% compared to the previous year, amounting to USD 284.56 billion, while imports decreased by 3.8% to USD 289.75 billion, resulting in a trade deficit of USD 5.19 billion.
Foreign Trade Values | 2019 | 2020 | 2021 | 2022 | 2023 |
Imports of Goods (million USD) | 236,260 | 206,156 | 266,882 | 301,030 | 289,754 |
Exports of Goods (million USD) | 246,269 | 231,634 | 272,006 | 287,425 | 284,562 |
Imports of Services (million USD) | 56,855 | 45,466 | 57,905 | 62,859 | 65,478 |
Exports of Services (million USD) | 81,178 | 30,997 | 25,407 | 38,901 | 63,033 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2018 | 2019 | 2020 | 2021 | 2022 |
Foreign Trade (in % of GDP) | 120.8 | 109.7 | 97.8 | 117.2 | 133.9 |
Trade Balance (million USD) | 22,388 | 26,725 | 40,402 | 32,354 | 10,814 |
Trade Balance (Including Service) (million USD) | 44,922 | 51,047 | 25,933 | -79 | -12,296 |
Imports of Goods and Services (Annual % Change) | 8.3 | -5.2 | -13.9 | 17.8 | 4.1 |
Exports of Goods and Services (Annual % Change) | 3.4 | -3.0 | -19.7 | 11.1 | 6.8 |
Imports of Goods and Services (in % of GDP) | 56.0 | 50.2 | 46.3 | 58.6 | 68.1 |
Exports of Goods and Services (in % of GDP) | 64.8 | 59.5 | 51.5 | 58.6 | 65.8 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2023 | 2024 (e) | 2025 (e) | 2026 (e) | 2027 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 2.6 | 4.9 | 4.5 | 3.3 | 3.9 |
Volume of imports of goods and services (Annual % change) | -2.7 | 4.5 | 4.2 | 3.4 | 3.3 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2022 |
United States | 16.6% |
China | 12.0% |
Japan | 8.6% |
Vietnam | 4.6% |
Malaysia | 4.4% |
Australia | 3.9% |
India | 3.7% |
Indonesia | 3.6% |
Singapore | 3.5% |
Hong Kong SAR, China | 3.5% |
Cambodia | 3.0% |
Philippines (the) | 2.6% |
South Korea | 2.2% |
Netherlands | 2.0% |
Germany | 1.7% |
Myanmar | 1.6% |
Laos | 1.6% |
United Kingdom | 1.4% |
United Arab Emirates | 1.2% |
Switzerland | 1.1% |
See More Countries | 53.8% |
Main Suppliers (% of Imports) |
2022 |
China | 23.3% |
Japan | 11.3% |
United States | 6.0% |
United Arab Emirates | 5.9% |
Malaysia | 4.8% |
South Korea | 3.3% |
Indonesia | 3.2% |
Singapore | 2.7% |
Vietnam | 2.6% |
Saudi Arabia | 2.4% |
Australia | 2.4% |
India | 2.3% |
Switzerland | 2.3% |
Germany | 2.0% |
Qatar | 1.5% |
Brazil | 1.3% |
Philippines (the) | 1.3% |
Thailand This flow is explained by the way local Customs Authorities report trade with overseas or special territories (e.g. Hong Kong or Taiwan in the case of China, French West Indies in the case of France, etc) as well as the treatment of re-imported (or re-exported) products, which get out (or enter) of the country for a limited time, with the intention of being re-imported (or re-exported) without significant transformation overseas. | 1.2% |
Myanmar | 1.2% |
Laos | 1.1% |
See More Countries | 48.7% |
Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import-Export Flows.
38.9 bn USD of services exported in 2022 | |
38.87% | |
38.24% | |
Personal travelPersonal travel | 33.58% |
OtherOther | 44.84% |
Business travelBusiness travel | 4.66% |
16.93% | |
1.92% | |
1.01% | |
0.91% | |
0.68% | |
0.58% | |
0.55% | |
0.31% |
62.9 bn USD of services imported in 2022 | |
43.95% | |
26.57% | |
11.09% | |
Personal travelPersonal travel | 9.49% |
OtherOther | 44.96% |
Business travelBusiness travel | 1.60% |
8.80% | |
3.63% | |
2.53% | |
1.65% | |
0.73% | |
0.66% | |
0.38% |
Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: July 2024
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