NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. In 2020, Thailand exported around 18.7 billion U.S. dollars worth of computers, parts, and accessories which was the highest export value in the electrical and electronic industry. The National Food Institute reported that the value of Thai food exports was US$32.7 billion in 2020. At present, the Bangkok port handles 54% of total exports and imports of Thailand. The second largest economy in Southeast Asia after Indonesia, Thailand is conveniently located to be a hub for continental ASEAN. Overview of business in Thailand. Agriculture employs almost 50% of the population but makes up only 10% of the gross domestic product. The main exports of Thailand in 2020 were Industrial Machinery with a share of 16.4% ($37.6 Billion), Electronics with a share of 14.8% ($34.1 Billion), Vehicles with a share of 10.5% ($24 Billion), Pearls, Stones and Metals with a share of 7.8% ($18 Billion), Rubber and Articles with a share of 6.7% ($15.5 Billion), and so on, as per . Examining Thailand's international trade structure at a granular level makes an interesting case for a number of reasons. The combined export value of these three types of goods was reported at $23.74 billion. Thailand (THA) Exports, Imports, and Trade Partners | OEC ... Major export items accounting for over 70 percent of total fishery products exports are canned tuna and sardines, processed shrimp, prawn, and squid. Table reflects only those months for which there was trade. Thailand's economy grew at an average annual rate of 7.5% in the boom years of 1960-1996 and 5% during 1999-2005 following the Asian Financial Crisis. The automotive industry is developed in the country, making it an exporter of cars and car parts. Thailand's economy is expected to recover further in the final quarter of this year, while exports will be its main driver in 2022, Finance minister Arkhom Termpittayapaisith told a seminar on . Thailand - Thailand - Agriculture, forestry, and fishing: Rice is not only the main staple crop of the country but also the primary agricultural export. Manufacturing and tourism led its growth, but agriculture continued to play an important role—employing over 60 percent of the workforce. POLL-Thailand c.bank to hold fire on rates, wait for ... "Thailand proposed the initiation of a refreshed conversation on the realisation of the Free Trade Area of the Asia Pacific (FTAAP) post-COVID-19, centred on the ideas that supply chains need to be resilient and new and emerging trade-related issues, such as health, the digital economy, climate change, as well as inclusive and sustainable . During the last five reported years the exports of Vietnam have changed by $123B from $158B in 2014 to $280B in 2019. In terms of industrial products, Thai exports stood at $80.4 billion, accounting for 58.72 per cent of total exports to FTA markets. Thailand / Economic Studies - Coface Why It Matters: A popular tourist destination, Thailand doubles up as a major automotive export hub.Besides Ford, Japan's Toyota Motor Corp (NYSE: TM) and Honda Motor Co (NYSE: HMC) are heavily . In that year . The most common destination for the exports of . Thailand: Economy | Infoplease U.S. Relations With Thailand - United States Department of ... Thailand's Economy: Learn How It Benefits From Rubber and ... For at a glance i.e. Thailand - Agriculture Thailand Export Data | Thailand Trade Data and Statistics Thailand's economic freedom score is 69.7, making its economy the 42nd freest in the 2021 Index. BANGKOK : Thailand's economy is expected to expand 4per cent in 2022 after only 1per cent growth predicted for this year, helped by domestic consumption and exports, the finance minister said on . Thai exports under FTAs up 25% in first 9 months of 2021 Copper Ore. As a chiefly service-based economy, Thailand will require more agricultural goods from global markets, and the United States stands ready to provide them. Map of Thailand. Thailand's main fruit export is the pineapple, and Thailand is the top exporter of canned pineapples in Asia although Thailand enjoys a growing trade in the export of many tropical fruits, in particular the durian, mangosteen, and longan, of which Thailand is the largest exporter globally. Thailand's teak, once a major export, is still a valuable commodity. A U.S. citizen who entered the country nearly a week ago received his first positive test result on Dec. 1. Starting from the year 1995, Thailand's economic growth became much slow down due to a number of factors such as the contraction in the real estate sector, the emergence of China as an intimidating competitor in international trade, the fall of world demand of semiconductor which was one of the Thai major exports in 1996, and an appreciation . Exports The top exports of Thailand are Office Machine Parts ($16.4B), Cars ($9.55B), Integrated Circuits ($8.73B), Delivery Trucks ($8.23B), and Gold ($7.62B), exporting mostly to United States ($32.2B), China ($29.1B), Japan ($23.8B), Vietnam ($11.8B), and Hong Kong ($11.1B). Month. Agricultural commodity exports declined by 7 percent in the first three quarters of 2019, led by sharp decreases in export volumes for major products such as rice and rubber. With a free-market economy, the Kingdom has a strong domestic market and a growing middle class, with the private sector being the main engine of growth. Thailand is located in South-Eastern Asia, bordering the Andaman Sea and the Gulf of Thailand. Accessed on March 3, 2021 International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). What are the products imported and exported by Thailand? The main trade partners of the Philippines include China, Japan, the United States, Singapore and Hong Kong. Arkhom also told an . Bangkok Port. Major export partners are China, Japan, the United States and the European Union. Car exports, including accessories and parts, motorcycles, are main export products from Thailand. Top 10 Thai Exports to the US. 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). Commodity Exports Refined petroleum - $7.84 billion Rice - $5.77 billion Rubber - $4.63 billion Gold - $4.41 billion Diamonds - $1.52 billion The world's largest exporter of canned pineapple and canned tuna,The world's number one exporter of rice, rubber, chilled fish and prawns,The world's largest exporter of precious stones,The world . Thailand is the world's largest exporter of tapioca products, rubber, frozen shrimp, canned tuna, and canned pineapple. He also told an online forum that gross domestic product next year should grow around 4 per cent or in a range of 3.5-4.5 per cent. Thailand exports, imports, tariff by year. Thailand is the 20th largest export destination for the United States. Major exports include cars, computers, electrical appliances, rice, textiles and footwear, fishery products, rubber, and jewellery. Thailand's exports in the first three quarters of 2021 jumped by 15.5 per cent from low base levels a year earlier, when fresh waves of Covid-19 disrupted the global economy, the Commerce Ministry said Tuesday. The most recent exports are led by Broadcasting Equipment ($42.3B), Telephones ($18.2B), Integrated Circuits ($15.5B), Textile Footwear ($10.6B), and Leather Footwear ($6.43B). In 2021, economic growth should gradually resume. In 2014, major import sources for machinery and parts were Japan (31.5%), China (19.2%) and Germany (9%). The agricultural sector, comprised mostly of small-scale farms, contributes only 10% of GDP but employs about one third of the labor force. Thailand's fishery industry has developed and become one of the world's largest fishery exporters, generating about 20 percent of Thailand's total food product exports. BANGKOK (Nov 20): Thailand's economy is expected to grow between 3.5% to 4.5% next year thanks to increased exports and a recovery in the country's vital tourism sector from the pandemic-driven slump, its finance minister said on Saturday.The Southeast Asian country earlier this month reopened to vaccinated foreign visitors without quarantine requirements in a bid to reboot an industry which . In second place for improving export sales was fruits and nuts which rose 10.9%. Based on the forecast for world economic growth of 5.5%, Thailand's Ministry of Commerce projects an increase in Thai food exports of 7%, with the export of frozen seafood expected to grow by 2% . Thailand: Economy. In 2020 exports from this sector decreased by 22.16 % fromthe year before. Thailand's main exports are manufactured goods, principally electronics, vehicles, machinery, and food. Among the products imported by Thailand, we can mention crude petroleum, integrated circuits, gold, raw materials, and consumer goods. Conversely, the main export destinations for Thai machinery and parts were Japan (10.4%), United States (9.2%) and Indonesia (8.5%). The main imports are vehicle parts, crude petroleum, petroleum gas and much more. Thailand exports numerous goods, including textiles, footwear, foodstuffs (primarily fish, seafood, and rice), jewelry, computers, and computer parts and petroleum. Cambodia exports gold and jewelry . As of 2018, Thailand has an average inflation of 1.06% and an account surplus . See also Thailand's Top Trading Partners, Thailand's Top 10 Exports and Thailand's Top 10 Major Export Companies Research Sources: Central Intelligence Agency, The World Factbook Country Profiles. "As one of the world's major food exporters, now Thailand is missing a chance to revive food export due to labour shortage." Thai food exports were worth 980 billion baht (US$29.4 billion . Thailand is currently the United States' 19th-largest goods trading partner, with $48.8 billion in two-way goods trade during 2020. Major export partners are China, Japan, the United States and the European Union. Major exports include rubber, chilled and frozen fruit, cassava products, spices and herbs, as well as fresh, chilled, frozen and dried vegetables. Although high-yield varieties of rice were adopted in the 1960s, rice yields are much lower than in East Asia, owing primarily to less-efficient labour inputs. Thailand exports over US$105 billion worth of goods and services annually. A regional leader in tourism, automotive, electronics, Thailand has shown a resilient economy despite going through tensed political situations in recent years. Thailand's top 10 exports accounted for 71% of the overall value of its global shipments. The country mainly exports manufactured goods, electronics, vehicles, machinery, equipment, foodstuff, agricultural goods; mainly rice and rubber. Thailand Trade Summary. Exports, a key driver of Thailand's growth, increased 24.7% in November from a year earlier, beating a forecast for a rise of 18.0% in a Reuters poll, and against October's 17.4% rise. Thailand's economic growth contracted sharply because of COVID-19. Leading services exports from the U.S. to Thailand were in the financial services, intellectual property (licenses for the use of research and development), and travel sectors. The main exports of Thailand include refined petroleum, computers, rubber and gold. An export-dependent economy, Thailand exported a total of $226.7 billion worth of goods in 2020. Agricultural Exports Dairy Products: In 2018, Thailand imported $790.3 million in dairy products from across the globe. latest available trade, tariff, trade barriers and other trade related data Click Here . 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