The country’s main trading partners are Japan, the United States, China, Singapore, and Malaysia.
Contents
Who is Thailand’s biggest trade partner?
United States
Thailand top 5 Export and Import partners
| Market | Trade (US$ Mil) | Partner share(%) |
|---|---|---|
| United States | 29,719 | 12.72 |
| China | 28,068 | 12.01 |
| Japan | 23,136 | 9.90 |
| Vietnam | 11,608 | 4.97 |
What is Thailand’s main trade?
The country mainly exports manufactured goods (86 percent of total shipments) with electronics (14 percent, vehicles (13 percent), machinery and equipment (7.5 percent) and foodstuffs (7.5 percent) being the most important. Agricultural goods, mainly rice and rubber, account for 8 percent of total shipments.
What is the major exports of Thailand?
Thailand’s Top Exports
- Refined petroleum – $7.84 billion.
- Rice – $5.77 billion.
- Rubber – $4.63 billion.
- Gold – $4.41 billion.
- Diamonds – $1.52 billion.
What trade organizations does Thailand belong to?
Thailand is a member of the World Trade Organization (WTO) and the Association of Southeast Asian Nations (ASEAN).
What are Thailand Major imports and exports?
The most recent imports of Thailand are led by Crude Petroleum ($18.3B), Integrated Circuits ($8.5B), Petroleum Gas ($7.09B), Vehicle Parts ($6.15B), and Gold ($5.12B). The most common import partners for Thailand are China ($45.7B), Japan ($28.9B), United States ($13.7B), Malaysia ($13B), and Singapore ($9.03B).
What is the biggest industry in Thailand?
manufacturing sector
The manufacturing sector constitutes Thailand’s main industry, producing a wide variety of goods such as textiles and garments, plastics, footwear, electronics, integrated circuits, computers and components, automobiles and parts, and cement.
What does Thailand trade with the US?
U.S. imports from Thailand account for 1.6 percent of overall U.S. imports in 2020. The top import categories (2-digit HS) in 2020 were: machinery ($10 billion), electrical machinery ($9.9 billion), rubber ($4.1 billion), vehicles ($1.1 billion), and optical and medical instruments ($1.1 billion).
What are Thailand trade agreements?
Thailand has implemented bilateral trade agreements with various countries, including Australia, Chile, China, Laos, New Zealand, Japan, Peru, and India.ASEAN implemented a number of FTAs with its trading partners, including ASEAN-Australia and New Zealand, ASEAN-China, ASEAN-India, ASEAN-Japan, and ASEAN-Korea.
What are Thailand’s imports?
Thailand imports mainly raw materials and intermediate goods (around 56 percent of total imports). Fuel accounts for 19 percent, parts of electronic appliances for 11 percent, materials of base metal for 9 percent, and chemicals for 5.5 percent.
What is Thailand known for economically?
The economy of Thailand is dependent on exports, which accounted in 2019 for about sixty per cent of the country’s gross domestic product (GDP). Thailand itself is a newly industrialized country, with a GDP of 16.316 trillion baht (US$505 billion) in 2018, the 8th largest economy of Asia, according to the World Bank.
Is Thailand a member of the World Trade Organization?
Thailand has been a WTO member since 1 January 1995 and a member of GATT since 20 November 1982.
Is Thailand part of NATO?
Security cooperation
Thailand continues to be a key security ally in Asia, along with Australia, Japan, the Philippines, and South Korea. In December 2003, Thailand was designated a Major non-NATO ally (MNNA).
What is the US relationship with Thailand?
The United States and Thailand remain parties to the 1954 Manila Pact of the former Southeast Asia Treaty Organization (SEATO), which, together with the Thanat-Rusk communiqué of 1962 and the 2020 Joint Vision Statement for the Thai-U.S. Defense Alliance, constitutes the foundation of the U.S.-Thai defense alliance.
What is Thailand’s number 1 export?
Searchable List of Thailand’s Most Valuable Export Products
| Rank | Thai Export Product | 2020 Value (US$) |
|---|---|---|
| 1 | Gold (unwrought) | $13,202,753,000 |
| 2 | Computers, optical readers | $11,692,037,000 |
| 3 | Cars | $8,221,905,000 |
| 4 | Integrated circuits/microassemblies | $7,101,079,000 |
Is Thailand Open to trade?
Thailand is considered an open economy with greater trade and investment exposure than many of its other Asian counterparts, with the exception of Hong Kong, China; Malaysia; and Singapore.
What is Thailand’s main source of income?
Thailand, Southeast Asia’s second-largest economy, has grown in the past generation or two from an undeveloped country to what the World Bank calls a “middle-income” country. Its three main economic sectors are agriculture, manufacturing, and services.
Is Thailand richer than Philippines?
Thailand has a GDP per capita of $17,900 as of 2017, while in Philippines, the GDP per capita is $8,400 as of 2017.
What are the two main industries in Thailand?
Main industries of Thailand
- automobiles and automotive parts (11%)
- financial services (9%)
- electric appliances and components (8%)
- tourism (6%)
- cement.
- auto manufacturing.
- heavy and light industries.
- appliances.
What is Thailand known for?
Located in southern Asia it is known for great eats, martial arts, beaches, and many temples. Thailand also has many islands that are well known that have numerous resorts for tourists. Thailand is also a fantastic place for watersports and boat trips around the stunning islands. Interested in Kayaking?
Is Thailand an export country?
Thailand is the 25th largest export destination for the United States. Two-way trade of goods in 2020 was $48.8 billion, with $37.6 billion in Thai exports to the United States and $11.2 billion in U.S. exports to Thailand.
