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.

At the more granular four-digit Harmonized Tariff System code level, Thailand’s most valuable exported products are cars followed by computers, electronic integrated circuits and gold.

1. Machinery including computers: US$40.2 billion (17% of total exports)
2. Electrical machinery, equipment: $34.1 billion (14.4%)
3. Vehicles: $28.5 billion (12.1%)
4. Rubber, rubber articles: $16.3 billion (6.9%)
5. Gems, precious metals: $12.8 billion (5.4%)
6. Plastics, plastic articles: $12.7 billion (5.4%)
7. Mineral fuels including oil: $8.2 billion (3.5%)
8. Meat/seafood preparations: $6.3 billion (2.7%)
9. Optical, technical, medical apparatus: $5.7 billion (2.4%)
10. Cereals: $5.4 billion (2.3%)

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.

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.

1. Vehicles: US$19.3 billion (Up by 5.1% since 2016)
2. Rubber, rubber articles: $13.7 billion (Up by 37.5%)
3. Machinery including computers: $12.9 billion (Up by 17.7%)
4. Meat/seafood preparations: $6 billion (Up by 6.8%)
5. Cereals: $4.7 billion (Up by 32.3%)
6. Plastics, plastic articles: $4 billion (Up by 19.8%)
7. Sugar, sugar confectionery: $2.7 billion (Up by 10.5%)
8. Wood: $2.3 billion (Up by 21.3%)
9. Vegetable/fruit/nut preparations: $2 billion (Down by -3%)
10. 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.

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.

1. Mineral fuels including oil: -US$23.4 billion (Up by 27.4% since 2016)
2. Iron, steel: -$9.3 billion (Up by 8.5%)
3. Electrical machinery, equipment: -$8.2 billion (Down by -6.4%)
4. Other chemical goods: -$2.9 billion (Up by 34.5%)
5. Articles of iron or steel: -$2.8 billion (Up by 10.2%)
6. Aircraft, spacecraft: -$2.6 billion (Up by 54.8%)
7. Gems, precious metals: -$2.4 billion (Reversing a $5.5 billion surplus)
8. Copper: -$2.1 billion (Up by 23%)
9. Aluminum: -$1.9 billion (Up by 16.7%)
10. 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.

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)