by free-picture.net
From January to September 2018, exported goods from Thailand were valued at $188.2 billion. This 9-month metric puts Thai exports on track for an annualized $250.9 billion estimated for all 2018.
Based on estimates from the Central Intelligence Agency’s World Factbook, Thailand’s exported goods plus services represent 70.4% of total Thai economic output or Gross Domestic Product. Please note that the overall value of exported goods and services includes a sizable share of re-exports. The analysis below focuses on exported products only.
From a continental perspective, 63.9% of Thai exports by value are delivered to fellow Asian countries while 13.1% are sold to North American importers. Thailand ships another 12.5% worth to Europe with just 2.9% going to Africa.
Given Thailand’s population of about 68.4 million people, its total $236 billion in 2017 exports translates to roughly $3,500 for every resident in that country.
Thailand’s unemployment rate was 0.8% as of December 2016 according to Trading Economics, up from 0.65% one year earlier.
Thailand’s Top 10 Exports
Top 10
The following export product groups represent the highest dollar value in Thai global shipments during 2017. Also shown is the percentage share each export category represents in terms of overall exports from Thailand.
- Machinery including computers: US$40.2 billion (17% of total exports)
- Electrical machinery, equipment: $34.1 billion (14.4%)
- Vehicles: $28.5 billion (12.1%)
- Rubber, rubber articles: $16.3 billion (6.9%)
- Gems, precious metals: $12.8 billion (5.4%)
- Plastics, plastic articles: $12.7 billion (5.4%)
- Mineral fuels including oil: $8.2 billion (3.5%)
- Meat/seafood preparations: $6.3 billion (2.7%)
- Optical, technical, medical apparatus: $5.7 billion (2.4%)
- Cereals: $5.4 billion (2.3%)
Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more granular view of exported goods at the four-digit HTS code level, see the section Searchable List of Thailand’s Most Valuable Export Products further down near the bottom of this article.
Thailand’s top 10 exports accounted for almost three-quarters (72.1%) of the overall value of its global shipments.
Fastest-growing product categories year over year were rubber and rubber articles (up 33.8%), mineral fuels including oil (up 31.8%), and cereals (up 17.1%) specifically higher global sales of rice.
Only the gems and precious metals category declined in value via a -9.6% setback caused principally by the lower value of exported Thai gold.
Advantages
Thailand earned an overall $10.9 billion trade surplus for 2017, down -39.1% from $17.9 billion during 2016.
The following types of Thai product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Vehicles: US$19.3 billion (Up by 5.1% since 2016)
- Rubber, rubber articles: $13.7 billion (Up by 37.5%)
- Machinery including computers: $12.9 billion (Up by 17.7%)
- Meat/seafood preparations: $6 billion (Up by 6.8%)
- Cereals: $4.7 billion (Up by 32.3%)
- Plastics, plastic articles: $4 billion (Up by 19.8%)
- Sugar, sugar confectionery: $2.7 billion (Up by 10.5%)
- Wood: $2.3 billion (Up by 21.3%)
- Vegetable/fruit/nut preparations: $2 billion (Down by -3%)
- Miscellaneous food preparations: $1.4 billion (Up by 13.3%)
Thailand has highly positive net exports in the international trade of automobiles with cars and trucks creating larger surpluses than auto parts and motorcycles. These cashflows indicate Thailand’s strong competitive advantages under the vehicles product category.
Opportunities
Below are exports from Thailand that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Thailand’s goods trail Thai importer spending on foreign products.
- Mineral fuels including oil: -US$23.4 billion (Up by 27.4% since 2016)
- Iron, steel: -$9.3 billion (Up by 8.5%)
- Electrical machinery, equipment: -$8.2 billion (Down by -6.4%)
- Other chemical goods: -$2.9 billion (Up by 34.5%)
- Articles of iron or steel: -$2.8 billion (Up by 10.2%)
- Aircraft, spacecraft: -$2.6 billion (Up by 54.8%)
- Gems, precious metals: -$2.4 billion (Reversing a $5.5 billion surplus)
- Copper: -$2.1 billion (Up by 23%)
- Aluminum: -$1.9 billion (Up by 16.7%)
- Pharmaceuticals: -$1.8 billion (Up by 6.2%)
Thailand has highly negative net exports and therefore deep international trade deficits for the mineral fuels category. Under that category Thailand’s greatest shortfalls are for crude oil, petroleum gases and coal.
These cashflow deficiencies clearly indicate Thailand’s competitive disadvantages in the international fossil fuel market, but also represent key opportunities for Thailand to improve its position in the global economy through focused innovations in alternative energy sources.
Companies
Thai Export Companies
Fifteen Thai corporations rank among Forbes Global 2000. Below is a sample of the major companies headquartered in Thailand that Forbes included:
- PTT PCL (energy)
- Siam Cement (specialized chemicals)
- PTT Global Chemical (diversified chemicals)
- Thai Beverage (beverages)
- Thai Oil (oil, gas)
- Total Access Communication (telecommunications)
According to global trade intelligence firm Zepol, the following companies are examples of smaller Thai exporters:
- Dole Thailand (pineapples, plastic boxes/cases, fruit mixtures)
- Thai Agri Foods Public (non-alcoholic beverages, nuts, fruit/vegetable juices)
- Dana Spicer Thailand (automotive parts, latex, rubber transmission belts)
- Minson Enterprises Thailand (footwear, skates, sporting equipment)
- British Millerain Thailand (textile fabrics, vulcanized rubber, coconut yarn)
Searchable List of Thailand’s Most Valuable Export Products
At the more granular four-digit HTS code level, Thailand’s top export products are computers followed by cars, electronic integrated circuits then automobile parts or accessories.
The following searchable table displays 200 of the most in-demand goods shipped from Thailand during 2017. Shown beside each product label is its total export value then the percentage increase or decrease since 2016.
| Rank | Thailand Export Product | 2017 Value (US$) | Change |
|---|---|---|---|
| 1 | Computers, optical readers | $11.8 billion | +12.5% |
| 2 | Cars | $10.9 billion | -6.5% |
| 3 | Integrated circuits/microassemblies | $8.3 billion | +7.6% |
| 4 | Automobile parts/accessories | $7.7 billion | +11.5% |
| 5 | Trucks | $7.3 billion | +13% |
| 6 | Processed petroleum oils | $6.1 billion | +26.7% |
| 7 | Natural rubber | $6 billion | +36.5% |
| 8 | Gold (unwrought) | $5.7 billion | -21.3% |
| 9 | Rice | $5.2 billion | +18.1% |
| 10 | Air conditioners | $4.8 billion | -0.6% |
| 11 | Rubber tires (new) | $4.4 billion | +23.4% |
| 12 | Phone system devices including smartphones | $4.2 billion | +71.2% |
| 13 | Jewelry | $3.7 billion | +3.3% |
| 14 | Ethylene polymers | $3.3 billion | +9% |
| 15 | Printing machinery | $3 billion | +1.5% |
| 16 | Computer parts, accessories | $2.9 billion | -9% |
| 17 | Fish, caviar (preserved/prepared) | $2.7 billion | +4% |
| 18 | Sugar (cane or beet) | $2.6 billion | +13.8% |
| 19 | Miscellaneous meat (preserved/prepared) | $2.5 billion | +10.7% |
| 20 | Synthetic rubber | $2.5 billion | +107.2% |
| 21 | Polyacetal/ether/carbonates | $2.1 billion | +11.6% |
| 22 | Solar power diodes/semi-conductors | $2 billion | +38.1% |
| 23 | Air or vacuum pumps | $2 billion | -8.1% |
| 24 | Refrigerators, freezers | $1.9 billion | +3.2% |
| 25 | Lower-voltage switches, fuses | $1.7 billion | +20.7% |
| 26 | Liquid crystal/laser/optical tools | $1.7 billion | +4.2% |
| 27 | Electrical/optical circuit boards, panels | $1.7 billion | +35.5% |
| 28 | Electrical converters/power units | $1.6 billion | +14.3% |
| 29 | Engines (diesel) | $1.6 billion | +5.4% |
| 30 | Diamonds (unmounted/unset) | $1.6 billion | -6% |
| 31 | Washing machines | $1.5 billion | +43.1% |
| 32 | Sawn wood | $1.5 billion | +30.7% |
| 33 | Motorcycles | $1.5 billion | +24.8% |
| 34 | Piston engines | $1.5 billion | +32.5% |
| 35 | TV receivers/monitors/projectors | $1.5 billion | +8.7% |
| 36 | Miscellaneous iron or steel items | $1.4 billion | +14.1% |
| 37 | Electrical machinery | $1.4 billion | -9.6% |
| 38 | Transmission apparatus (radio/TV) | $1.4 billion | -2.2% |
| 39 | Miscellaneous animal feed preparations | $1.4 billion | +11.7% |
| 40 | Miscellaneous fruits (fresh) | $1.4 billion | +49% |
| 41 | Printed circuits | $1.4 billion | +11.1% |
| 42 | Non-alcoholic drinks (not water/juice/milk) | $1.3 billion | +14.3% |
| 43 | Piston engine parts | $1.3 billion | +24.8% |
| 44 | Other food preparations | $1.3 billion | +11.6% |
| 45 | Miscellaneous plastic items | $1.2 billion | +22.4% |
| 46 | Precious/semi-precious stones (unstrung) | $1.2 billion | +13.2% |
| 47 | Plastic packing goods, lids, caps | $1.2 billion | +6.9% |
| 48 | Cyclic hydrocarbons | $1.2 billion | +19.9% |
| 49 | Crustaceans (including lobsters) | $1.2 billion | +7.5% |
| 50 | Propylene/olefin polymers | $1.1 billion | +11.6% |
| 51 | Insulated wire/cable | $1.1 billion | +8.5% |
| 52 | Roots/tubers of manioc, artichokes, sweet potatoes | $1.1 billion | -3.2% |
| 53 | Crustaceans/molluscs (prepared/preserved) | $1.1 billion | +4.2% |
| 54 | Light vessels, fire boats, floating docks | $1.1 billion | +14.2% |
| 55 | Clothing, accessories (vulcanized rubber) | $1.1 billion | +10.9% |
| 56 | Starches, inulin | $1 billion | -9.3% |
| 57 | Miscellaneous preserved fruits | $998.3 million | -3.2% |
| 58 | Optical fiber cables, sheets, plates | $973.2 million | +5.8% |
| 59 | Coal tar oils (high temperature distillation) | $965.5 million | +51.5% |
| 60 | Electric motors, generators | $874.4 million | -7.1% |
| 61 | Plastic plates, sheets, film, tape, strips | $862.5 million | +7.3% |
| 62 | Centrifuges, filters and purifiers | $848.9 million | +53.3% |
| 63 | Telecommunication receivers | $829.6 million | -14.1% |
| 64 | Electric water heaters, hair dryers | $764.5 million | -4.2% |
| 65 | Hair preparations | $748.6 million | -2% |
| 66 | Vulcanized rubber items | $731.7 million | +13.4% |
| 67 | Taps, valves, similar appliances | $709.4 million | +7.1% |
| 68 | TV/radio/radar device parts | $702.8 million | +33% |
| 69 | Heavy machinery (bulldozers, excavators, road rollers) | $700.2 million | +54.2% |
| 70 | Crude oil | $694.9 million | +39.7% |
| 71 | Liquid pumps and elevators | $689.7 million | +9% |
| 72 | Aircraft, spacecraft | $668.2 million | +9.2% |
| 73 | Polycarboxylic acids | $658.7 million | +11.7% |
| 74 | Fruit and vegetable juices | $656.7 million | -11% |
| 75 | Sauces, mixed condiments, seasonings | $652.8 million | +10.3% |
| 76 | Copper wire | $642.2 million | +88.6% |
| 77 | Dextrins, other modified starches | $623.8 million | +1.4% |
| 78 | Poultry meat | $610.9 million | +19.5% |
| 79 | Styrene polymers | $606.6 million | +27.8% |
| 80 | Seats (excluding barber/dentist chairs) | $596.6 million | +6.8% |
| 81 | Aircraft parts | $587 million | +38.6% |
| 82 | Electro-medical equip (e.g. xrays) | $570.2 million | +8.4% |
| 83 | Motorcycle parts/accessories | $567.1 million | +10% |
| 84 | Hydraulic cements | $550 million | -10.2% |
| 85 | Iron and steel screws, bolts, nuts, washers | $546.9 million | +15.9% |
| 86 | Wood fiberboard | $542.2 million | +12.6% |
| 87 | Uncoated paper for writing/printing | $538.5 million | +5% |
| 88 | Ball, roller bearings | $533.8 million | +11.6% |
| 89 | Lenses, prisms, mirrors | $515.6 million | +6.2% |
| 90 | Electric storage batteries | $508.1 million | +50.6% |
| 91 | Regulate/control instruments | $505.7 million | +16.3% |
| 92 | Base metal mountings, fittings | $495.4 million | -0.2% |
| 93 | Vinyl chloride polymers | $494.3 million | +32.3% |
| 94 | Electrical lighting/signaling equpment, defrosters | $481.9 million | +16.2% |
| 95 | Acyclic hydrocarbons | $463 million | +86.2% |
| 96 | Synthetic staple fibers | $450.3 million | +22.2% |
| 97 | Synthetic filament yarn | $447.7 million | +7.9% |
| 98 | Pasta, couscous | $442.1 million | +6.3% |
| 99 | Turbo-jets | $442 million | +6.4% |
| 100 | Electric sound/visual signal bells or alarms | $425.8 million | +25.2% |
| 101 | Sports equipment | $416 million | +2.5% |
| 102 | Bread, biscuits, cakes, pastries | $412.1 million | +7.5% |
| 103 | Miscellaneous furniture | $402 million | -9.6% |
| 104 | Other animal leather | $400.5 million | -11.8% |
| 105 | Copper waste, scrap | $394.6 million | +50% |
| 106 | Particle board, other ligneous materials | $387.4 million | +19.7% |
| 107 | Dried fruit | $381.9 million | +36.3% |
| 108 | Electric ignition/start equipment | $380.3 million | +12.6% |
| 109 | Beauty/makeup/skin care preparations | $378.3 million | +8.4% |
| 110 | Bridge structures, parts | $375.7 million | -0.3% |
| 111 | Moluscs | $373.7 million | +5.9% |
| 112 | Other organic cleaning preparations | $366.7 million | +10% |
| 113 | Lifting/handling/loading machinery (e.g. escalators) | $362.3 million | -7.2% |
| 114 | Medication mixes in dosage | $362.1 million | +13.2% |
| 115 | Unsaturated acyclic mono acids | $358 million | +59.9% |
| 116 | Transmission shafts, gears, clutches | $357.8 million | +8.1% |
| 117 | Vulcanized rubber tubes, pipes | $349.5 million | +15.5% |
| 118 | Synthetic yarn woven fabrics | $344.3 million | +15.1% |
| 119 | Imitation jewelry | $341.2 million | -15.8% |
| 120 | Unrecorded sound media | $334.7 million | +2% |
| 121 | Phenols/phenol-alcohols | $333.5 million | +34.5% |
| 122 | Unvulcanized compounded rubber | $330.6 million | +2.2% |
| 123 | T-shirts, vests (knit or crochet) | $328.7 million | +0.4% |
| 124 | Tractors | $310.6 million | +9.6% |
| 125 | Chemical industry products/residuals | $301.2 million | +2.1% |
| 126 | Interchangeable hand/machine tools | $298.4 million | +19% |
| 127 | Oral/dental hygiene preparations | $297.9 million | +6.1% |
| 128 | Other prepared/preserved vegetables (non-frozen) | $297.8 million | +0.1% |
| 129 | Flour/meal/starch/malt extract food preparations | $295.6 million | +4% |
| 130 | Vulcanized rubber thread, cord | $293.9 million | +26.3% |
| 131 | Microphones/headphones/amps | $292.8 million | +6.7% |
| 132 | Cases, handbags, wallets | $292.4 million | +2.9% |
| 133 | Footwear (leather) | $290.2 million | +6.1% |
| 134 | Electrical capacitators | $287.5 million | +17.1% |
| 135 | Epoxides | $283.4 million | +22.4% |
| 136 | Dates/figs/pineapples/mangoes/avocadoes/guavas | $282.4 million | +68% |
| 137 | Miscellaneous iron and steel structures | $279.6 million | -54.8% |
| 138 | Harvest/threshing machinery | $277.7 million | -1.6% |
| 139 | Plastic plates, sheets, film, tape, strips | $270.2 million | -2.7% |
| 140 | Uncoated paper in rolls | $268.1 million | +15.4% |
| 141 | Warships, lifeboats | $267.6 million | +296.9% |
| 142 | Wrist/pocket watches (no precious metal case) | $256.6 million | -3.9% |
| 143 | Iron or steel pipe fittings | $256.4 million | +10.9% |
| 144 | Miscellaneous iron or steel tubes, pipes | $255.2 million | +47.2% |
| 145 | Amino-compounds (oxygen) | $254.7 million | -0.4% |
| 146 | Sugar-preserved vegetables, fruits, nuts, peels | $252.8 million | +8.5% |
| 147 | Copper tubes, pipes | $251.5 million | -1.6% |
| 148 | Sanitary towels, baby napkins/liners | $249.7 million | -4.9% |
| 149 | Fish fillets, pieces | $249.2 million | -11.5% |
| 150 | Personal toilet/shaving preparations, deodorants | $249.2 million | +1.5% |
| 151 | Individual-function machines/mechanical appliances | $248.1 million | +16.3% |
| 152 | Aluminum plates, sheets, strips | $244.4 million | +66.5% |
| 153 | Petroleum gases | $243.9 million | +165.6% |
| 154 | Polyamides | $243.6 million | +16.7% |
| 155 | Iron or steel scrap | $243.5 million | +37.4% |
| 156 | Acyclic alcohols | $239.2 million | +20.8% |
| 157 | Machinery parts | $234.5 million | +16.9% |
| 158 | Paper containers, cellulose wadding | $233.9 million | +9.6% |
| 159 | Packaged insecticides/fungicides/herbicides | $232.9 million | +36.4% |
| 160 | Soaps, organic surface-active products | $231.8 million | +7.5% |
| 161 | Iron or steel containers for liquefied gas | $228.1 million | +10.5% |
| 162 | Sound record/reproducin parts, accessories | $227.5 million | -27.2% |
| 163 | Coated/laminated non-wovens | $226.9 million | +8.7% |
| 164 | Iron and steel stoves, barbecues | $224.1 million | +18.9% |
| 165 | Carboxylic acids | $224 million | +14.5% |
| 166 | Plastic tableware, kitchenware, toiletry | $223.6 million | +1.7% |
| 167 | Miscellaneous aluminum items | $223.1 million | +10.1% |
| 168 | Other than warp-knit fabrics | $222.7 million | +13.8% |
| 169 | Fuel wood, wood chips, sawdust | $219.5 million | -16.7% |
| 170 | Uncombed artificial staple fibers | $216.8 million | +7.2% |
| 171 | Palm oil | $216.7 million | +428.8% |
| 172 | Synthetic organic coloring matter | $214.6 million | -13.4% |
| 173 | Bras, corsets (not knit or crochet) | $212.9 million | +5.2% |
| 174 | Iron and steel stranded wire, cables (uninsulated) | $209.5 million | +17% |
| 175 | Women's underwear, pajamas (knit or crochet) | $209.5 million | -2.9% |
| 176 | Transport containers including for fluids | $201.8 million | -54.1% |
| 177 | Silicones | $201.1 million | +19.4% |
| 178 | Models, puzzles, miscellaneous toys | $200.7 million | -5% |
| 179 | Speed/distance meters | $199.2 million | +31.7% |
| 180 | Special apparatus parts | $198.8 million | +22% |
| 181 | Miscellaneous machine electrical parts | $197.9 million | -3.2% |
| 182 | Jerseys, pullovers (knit or crochet) | $194.7 million | -3.6% |
| 183 | Copper bars, rods | $193.1 million | +23% |
| 184 | Electric generating sets, converters | $189.7 million | +3.8% |
| 185 | Corn | $186.1 million | -2.6% |
| 186 | Moulding boxes/base | $182.3 million | +4.8% |
| 187 | Ceramic sins, washbasins, baths | $181.6 million | +5.1% |
| 188 | Salted/dried/smoked meat | $180.7 million | -3% |
| 189 | Iron or steel tubes, pipes | $180.6 million | +77.7% |
| 190 | Gypsum, plasters | $178.8 million | -6.8% |
| 191 | Sugar confectionery (no cocoa) | $174.6 million | +3.5% |
| 192 | Electrical resistors | $173.2 million | +5.4% |
| 193 | Base metal locks | $172.8 million | +15.8% |
| 194 | Acrylic polymers | $172 million | +6.7% |
| 195 | Plastics waste, scrap | $168 million | +6.8% |
| 196 | Flat-rolled iron or non-alloy steel products (plated/coated) | $167.8 million | +93.5% |
| 197 | Ceramics for technical uses | $167.4 million | +13.6% |
| 198 | Vulcanized rubber hygiene/pharma items | $165.8 million | +15.8% |
| 199 | Woven cotton fabrics | $165.7 million | -4.2% |
| 200 | Other measuring/testing machines | $164.5 million | +23.7% |
These 200 exported goods were worth a subtotal of US$207.8 billion or almost 90% by value for all products exported from Thailand during 2017.
See also Thailand’s Top 10 Imports, Thailand’s Top 10 Major Export Companies, Thailand’s Top Trading Partners and Top Asian Export Countries
Research Sources:
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on August 13, 2018
The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on August 13, 2018
Trade Map, International Trade Centre. Accessed on August 13, 2018
Investopedia, Net Exports Definition. Accessed on August 13, 2018
Wikipedia, List of Companies of Thailand. Accessed on August 13, 2018
Zepol’scompany summary highlights by country. Accessed on August 13, 2018
Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on August 13, 2018
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