Thailand imported US$268.2 billion worth of goods from around the globe in 2021, up by 19.2% since 2017 and up by 28.6% from 2020 to 2021.

Thai imports for 2021 represent around 1.5% of overall global imports which cost an estimated $17.706 trillion one year earlier during 2020.

Based on the average exchange rate for 2021, Thailand uses the Thai baht which appreciated by 5.7% against the US dollar since 2017 but fell by -2.2% from 2020 to 2021. Thailand’s weaker currency in 2021 compared to 2020 made Thailand imports paid for in stronger US dollars relatively more expensive when starting from Thai baht.

Among Thailand’s biggest imported products by dollar value are crude oil, integrated circuits and microassemblies, flat-rolled iron or steel products, and computers.

From a continental perspective, 75.4% of Thailand’s total imports by value in 2021 were purchased from fellow Asian countries. European trade partners supplied 10.6% of imports into Thailand while 8% worth originated from North America. Oceania (mainly Australia and New Zealand) accounted for 2.2% of the total. Smaller percentages came from Africa (2%) and Latin America (1.8%) excluding Mexico but including the Caribbean.

Given Thailand’s population of 70 million people, its total $268.2 billion in 2021 imports translates to roughly $3,850 in yearly product demand from every person in the East Asian country. That per-capita amount is higher than the average $3,000 one year earlier in 2020.

Thailand’s Top 10 Imports

The following product groups represent the highest dollar value in Thailand’s import purchases during 2021. Also shown is the percentage share each product category represents in terms of overall imports into Thailand.

1. Electrical machinery, equipment: US$52.9 billion (19.7% of total imports)
2. Mineral fuels including oil: $41 billion (15.3%)
3. Machinery including computers: $30 billion (11.2%)
4. Iron, steel: $15.2 billion (5.7%)
5. Gems, precious metals: $12.6 billion (4.7%)
6. Plastics, plastic articles: $10.8 billion (4%)
7. Vehicles: $10.2 billion (3.8%)
8. Articles of iron or steel: $7.3 billion (2.7%)
9. Copper: $6.3 billion (2.4%)
10. Optical, technical, medical apparatus: $6.3 billion (2.4%)

Thailand’s top 10 imports represent 71.9% of the overall value of its product purchases from other countries.

Among these top categories, the fastest growth products in terms of Thai imports were iron and steel (up 63.1%), copper (up 62.9%), gems and precious metals (up 55.4%), mineral fuels including oil (42.5%) then imported plastics both as materials plus items made from plastic.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level.

For products at the more granular 4-digit level, please see below.

Thailand’s Main Electronics Product Imports

In 2021, Thai importers spent the most on the following 10 subcategories of electronics.

1. Integrated circuits/microassemblies: US$12.3 billion (up 7.5% from 2020)
2. Phone system devices including smartphones: $6.7 billion (down -3.2%)
3. Unrecorded sound media: $3.2 billion (up 19.5%)
4. Lower-voltage switches, fuses: $2.1 billion (down -4.3%)
5. Solar power diodes/semi-conductors: $1.9 billion (up 2.5%)
6. Electrical machinery: $1.9 billion (down -3.9%)
7. Insulated wire/cable: $1.7 billion (down -6%)
8. Electrical/optical circuit boards, panels: $1.5 billion (down -9.7%)
9. Printed circuits: $1.4 billion (up 17.7%)
10. Electrical converters/power units: $1.3 billion (up 3.1%)

Among these import subcategories, Thai purchases of printed circuits (up 35.6%), solar power diodes and semi-conductors (up 29.9%) then insulated wire or cable (up 28.8%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Thai businesses and consumers.

Thailand’s Main Mineral Fuels Imports

In 2021, Thai importers spent the most on the following 10 subcategories of mineral fuels-related items.

1. Crude oil: US$25.3 billion (up 43.7% from 2020)
2. Petroleum gases: $5.9 billion (up 42.6%)
3. Processed petroleum oils: $5.4 billion (up 58.4%)
4. Electrical energy: $2 billion (up 12.3%)
5. Coal, solid fuels made from coal: $1.8 billion (up 35.9%)
6. Coal tar oils (high temperature distillation): $296.3 million (up 15.1%)
7. Petroleum oil residues: $199.7 million (up 8.1%)
8. Petroleum jelly, mineral waxes: $50.1 million (up 25.6%)
9. Coke, semi-coke: $8.4 million (up 12.2%)
10. Lignite: $8.3 million (up 96%)

Among these import subcategories, Thai purchases of lignite (up 96%), processed petroleum oils (up 58.4%) then crude oil (up 43.7%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of mineral fuels-related imports among Thai businesses and consumers.

Thailand’s Main Machinery Imports Including Computers

In 2021, Thai importers spent the most on the following 10 subcategories of machinery including computers.

1. Computers, optical readers: US$4.1 billion (up 27.4% from 2020)
2. Computer parts, accessories: $2.5 billion (up 8.1%)
3. Air or vacuum pumps: $2.3 billion (up 27.7%)
4. Piston engine parts: $1.7 billion (up 44.2%)
5. Taps, valves, similar appliances: $1.3 billion (up 23.6%)
6. Printing machinery: $1.2 billion (down -5.7%)
7. Turbo-jets: $1.1 billion (down -16.2%)
8. Transmission shafts, gears, clutches: $1 billion (up 31%)
9. Miscellaneous machinery: $1 billion (up 5.8%)
10. Engines (diesel): $937.8 million (up 49.5%)

Among these import subcategories, Thai purchases of diesel engines (up 49.5%), piston engine parts (up 44.2%) then transmission shafts, gears and clutches (up 31%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Thai businesses and consumers.

Thailand’s Main Iron or Steel Imports

In 2021, Thai importers spent the most on the following 10 subcategories of iron or steel as materials.

1. Flat-rolled iron or non-alloy steel products (plated/coated): US$2.9 billion (up 38.2% from 2020)
2. Flat-rolled other alloy steel products: $2.2 billion (up 92.2%)
3. Iron or non-alloy steel products (semi-finished): $2.1 billion (up 71%)
4. Hot-rolled iron or non-alloy steel products: $2.1 billion (up 97.3%)
5. Flat-rolled stainless steel items: $937.4 million (up 48.8%)
6. Cold-rolled iron or non-alloy steel products: $846.4 million (up 81%)
7. Iron or steel scrap: $671 million (up 62.7%)
8. Coiled other alloy steel bars, rods: $500.4 million (up 26.4%)
9. Coiled iron or non-alloy steel bars, rods: $499.7 million (up 58.1%)
10. Alloy steel bars, rods: $442.6 million (up 45.7%)

Among these import subcategories, Thai purchases of hot-rolled iron or non-alloy steel products (up 97.3%), flat-rolled other alloy steel products (up 92.2%) then cold-rolled iron or non-alloy steel products (up 81%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Thai businesses and consumers.
 

See also Thailand’s Top Trading Partners, Thailand’s Top 10 Exports/b>< and Thailand’s Top 10 Major Export Companies

Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on March 19, 2022

International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on March 19, 2022

International Trade Centre, Trade Map. Accessed on March 19, 2022

Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on March 19, 2022