Importing from Thailand - Trade Finance Global

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Importing from Thailand

Last updated on 04 Aug 2024
12 Mar 2019 . 1 min read

Thailand Country Profile

Official Name (Local Language) The Kingdom of Thailand

Capital Bangkok

Population 68,200,824

Currency Thai Baht

GDP $406.8 billion

Languages Thai

Phone Dial In 66

Thailand Exports Profile

Exports ($m USD) 213,593

Number of Export Products 4,319

Number of Export Partners 226

Thailand Economic Statistics






Government Website
https://www.thaigov.go.th
Sovereign Ratingshttps://countryeconomy.com/ratings/thailand
Central BankBank of Thailand
Currency USD Exchange Rate35.4
Unemployment Rate0.9%
Population below poverty line7.2%
Inflation Rate0.2%
Prime Lending Rate1.5%
GDP$406.8 billion
GDP Pro Capita (PPP)$16,800
Currency NameThai Baht
Currency CodeTHB
World Bank ClassificationUpper Middle Income
Competitive Industrial Performance34/138
Corruption Perceptions Index96/180
Ease of Doing Business27/190
Enabling Trade Index63/136

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Importing from Thailand

Thailand imports around $202 billion USD worth of goods each year. Thailand’s biggest import partners are China, Japan and the European Union.

Thailand has seen a sharp decline in imports over the recent months, falling around 11% in the last year. This was largely because one of Thailand’s largest imports was crude oil and commodities; and oil prices have dropped significantly in recent years.

Importing from Thailand: What is trade finance?

Thailand is one of the most successful emerging economies in South East Asia, with a population of over 67.5 million. Listed as the 23rd largest country in the world in terms of export volume, Thailand is a hub for exporting electronic products, automobiles (cars and vehicles) and petroleum. Thailand ranks as twenty-ninth most complex on the Economic Complexity Index.

Thailand is particularly well-known for its growing motorcycle and commercial vehicle export industry. A major trading partner in terms of both imports and exports for Thailand is China, which is also one of the world’s largest trading economies.

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Thailand

Agriculture

8.9%

Rice, cassava (manioc, tapioca), rubber, corn, sugarcane, coconuts, palm oil, pineapple, livestock, fish products

Industry

35.9%

Tourism, textiles and garments, agricultural processing, beverages, tobacco, cement, light manufacturing such as jewelry and electric appliances, computers and parts, integrated circuits, furniture, plastics, automobiles and automotive parts, agricultural

Services

55.3%

Map

Top 5 Exports Partners

CountryTrade% Partner Share
United States
24,38111.41
China23,57211.04
Japan20,4239.56
Hong Kong, China
11,390
5.33
Australia10,2324.79

Top 5 Exports Products

Export ProductNumber
Storage units, whether or not presented with th
5.9%
Monolithic integrated circuits, nes
5.4%
Gold in unwrought forms non-monetary
3.7%
Diesel powered trucks with a GVW not exceeding
3.4%
Petroleum oils, etc, (excl. crude); preparation
3.2%

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