Trade Figures of Thailand

Top 10 Exports

Top 10 Imports

Major Export Markets (US$ Term)

Source : Department of Trade Negotiations, Ministry of Commerce

Major Import Origins (US$ Term)

Source : Department of Trade Negotiations, Ministry of Commerce

TRADE SUMMARY

The United States and Thailand launched Free Trade Agreement negotiations in 2004 but suspended them in 2006 following the dissolution of the Thai Parliament and the subsequent military-led coup.

Although FTA negotiations remain suspended, U.S. and Thai officials continued to discuss bilateral issues as well as ways to advance the WTO Doha negotiations and the APEC and ASEAN agendas.

The United States and Thailand held informal consultations and a formal dialogue on trade and investment issues in Washington, D.C. in June 2008 and informal meetings in March 2009. The United States raised concerns regarding Thai customs practices, labeling requirements and other technical barriers to trade, market access for U.S. beef and live cattle, and the deterioration of intellectual property rights protection in Thailand over the past several years.

The United States will continue to monitor and evaluate the political situation in Thailand and, as appropriate, will consider steps to further strengthen bilateral economic relations.

U.S.-Thailand Trade Facts

U.S. goods and services trade with Thailand totaled $35 billion in 2007 (latest data available). Exports totaled $10 billion; Imports totaled $25 billion. The U.S. goods and services trade deficit with Thailand was $14 billion in 2007.

Thailand is currently our 25th largest goods trading partner with $32.6 billion in total (two ways) goods trade during 2008. Goods exports totaled $9.1 billion; Goods imports totaled $23.5 billion. The U.S. goods trade deficit with Thailand was $14.5 billion in 2008.

Trade in services with Thailand (exports and imports) totaled $3.6 billion in 2007 (latest data available). Services exports were $1.8 billion; Services imports were $1.8 billion. The U.S. services trade surplus with Thailand was $9 million in 2007.

Exports

Thailand was the United States' 29th largest goods export market in 2008.

U.S. goods exports to Thailand in 2008 were $9.1 billion, up 7.2% ($612 million) from 2007, and up 86% from 1994 (the year prior to Uruguay Round).

The top export categories (2-digit HS) in 2008 were: Electrical Machinery ($1.9 billion), Machinery ($1.6 billion), Iron and Steel Products ($484 million), Precious Stones (gold and diamonds) ($447 million), and Optic and Medical ($442 million).

U.S. exports of agricultural products to Thailand totaled $1.1 billion in 2008, the 19th largest U.S. Ag export market. Leading categories include: cotton ($272 million), wheat ($164 million), feeds and fodders ($103 million), dairy products ($82 million), and hides and skins ($58 million).

U.S. exports of private commercial services* (i.e., excluding military and government) to Thailand were $1.8 billion in 2007 (latest data available), 13.6% ($214 million) more than 2006 and 76% ($769 million) greater than 1994 level. Other private services (business, professional, and technical services) category led U.S. exports in 2007.

Imports

Thailand was the United States' 19th largest supplier of goods imports in 2008.

U.S. goods imports from Thailand totaled $23.5 billion in 2008, a 3.4% increase ($784 million) from 2007, and up 128% from 1994. U.S. imports from Thailand accounted for 1.1% of overall U.S. imports in 2008, down from 1.6% in 1994.

The five largest import categories in 2008 were: Electrical Machinery ($5.6 billion), Machinery ($4.8 billion), Rubber ($1.6 billion), Precious Stones and Metals (articles of jewelry) ($1.2 billion), and Prepared Meat, Fish (shrimp and tuna) ($1.1 billion).

U.S. imports of agricultural products from Thailand totaled $1.9 billion in 2008, the 12th largest supplier of Ag imports. Leading categories include: rubber and allied products ($630 million), processed fruit and vegetables ($382 million), and rice ($341 million).

U.S. imports of private commercial services (i.e., excluding military and government) were $1.8 billion in 2007 (latest data available), up 16.9% ($257 million), and up 272% ($1.3 billion) from 1994 level. Travel accounted for most of U.S. services imports from Thailand.

Trade Balance

The U.S. goods trade deficit with Thailand was $14.5 billion in 2008, a 1.2% increase ($172 million) over 2007.

The United States has a services trade surplus of $9 million in 2007 (latest data available).

Investment

U.S. foreign direct investment (FDI) in Thailand (stock) was $9.1 billion in 2008, a 3.1% increase from 2007.

U.S. FDI in Thailand is primarily concentrated in the manufacturing, banking, finance, and wholesale trade sectors.

Thailand FDI in the United States (stock) was $206 million in 2008, a 41.8% decrease from 2007.

The distribution of Thailand's FDI in the United States was not available in 2007.

Sales of services in Thailand by majority U.S.-owned affiliates were $3.2 billion in 2006 (latest data available), while sales of services in the United Sates by majority Thailand-owned firms were $295 million.

*NOTE: Refers to private services trade not including U.S. military sales, direct defense expenditures, and other miscellaneous U.S. government services.

FREE TRADE AGREEMENT NEGOTIATIONS

The U.S. government announced in February 2004 that it intended to initiate free trade agreement (FTA) negotiations with Thailand. Having concluded an FTA with Singapore in May 2003, the United States is seeking to advance President Bush’s Enterprise for ASEAN Initiative, an initiative aimed at enhancing U.S. relations with ASEAN countries. The United States has numerous concerns about Thailand’s trade and investment regime, which it hopes to address through these FTA negotiations. These include high tariffs and non-tariff barriers on both industrial and agricultural goods; restrictions on access to the services market; deficiencies in Thailand’s intellectual property rights and customs regimes; and other issues.

Source: Office of the United States Trade Representative, Document Library

Updated: July 2010