That dollar amount results from a 30.5% advance compared to $229.3 billion five years earlier for 2020.
Year over year, the overall value of Thai exports rose 6.8% compared to $280.1 billion in 2023.
That dollar figure represents roughly 1.3% of overall global exports estimated at $23.9 trillion for 2024.
The 5 best customers purchasing Thailand’s exported goods were buyers in the United States of America, mainland China, Japan, Australia and Malaysia. Collectively, that quintet of major trading partners bought approaching half (46%) of overall Thai exports in 2024.
Applying a continental lens, almost three-fifths (58.9%) of Thailand’s exports by value was delivered to fellow Asian countries while 20.5% was sold to importers in North American. Thailand shipped another 11.2% worth of goods to buyers in Europe.
Smaller percentages went to customers in Oceania (4.8%) led by Australia and New Zealand, Africa (2.33%) then Latin America (2.26%) excluding Mexico but including the Caribbean.
Thailand’s Top Trading Partners
Below is a list showcasing 25 of Thailand’s top trading partners, countries that imported the most Thai shipments by dollar value during 2024. Also shown is each import country’s percentage of total Thai exports.
- United States: US$54.9 billion (18.3% of total Thai exports)
- mainland China: $35 billion (11.7%)
- Japan: $23.2 billion (7.8%)
- Australia: $12.26 billion (4.1%)
- Malaysia: $12.25 billion (4.1%)
- India: $11.7 billion (3.9%)
- Vietnam: $11.7 billion (3.9%)
- Hong Kong: $10.8 billion (3.6%)
- Singapore: $10.7 billion (3.6%)
- Indonesia: $9.4 billion (3.1%)
- Cambodia: $9.2 billion (3.1%)
- Philippines: $7.7 billion (2.6%)
- Netherlands: $6.4 billion (2.1%)
- South Korea: $5.9 billion (2%)
- Germany: $5.3 billion (1.8%)
- Laos: $4.9 billion (1.6%)
- Taiwan: $4.7 billion (1.6%)
- Mexico: $4.4 billion (1.5%)
- United Kingdom: $4.18 billion (1.4%)
- Myanmar: $4.15 billion (1.4%)
- Switzerland: $3.9 billion (1.3%)
- United Arab Emirates: $3.6 billion (1.2%)
- South Africa: $3.1 billion (1%)
- Saudi Arabia: $2.8 billion (0.9%)
- Brazil: $2.2 billion (0.7%)
By overall value, a formidable 88.4% of Thai exports in 2024 was delivered to the above 25 trade partners.
The strongest increases in sales of Thai exports went to Cambodia (up 43.9% from 2023), Mexico (up 28.8%), Brazil (up 26.2%), Germany (up 21%) then India (up 17%).
Recording the severest year-over-year declines were buyers in South Africa (down -12.6% from 2023), Indonesia (down -5.2%) and Japan (down -4.9%).
Countries Causing the Greatest Trade Deficits for Thailand
Thailand posted an overall -US$10.8 billion trade deficit for 2024, reducing by -9.5% from the -$12 billion deficit during 2023.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Thailand incurred the highest trade deficits with the following countries.
- mainland China: -US$46 billion (country-specific trade deficit in 2023)
- Taiwan: -$16.1 billion
- United Arab Emirates: -$13.9 billion
- Japan: -$5.7 billion
- Thailand: -$4.1 billion
- South Korea: -$3.4 billion
- Qatar: -$3.3 billion
- Switzerland: -$3.1 billion
- Saudi Arabia: -$2.3 billion
- Brazil: -$2.1 billion
Among Thailand’s trading partners that cause the greatest negative trade balances, Thailand’s deficits with Switzerland (up 209.2%), Taiwan (up 34.1%) and South Korea (up 27.5%) grew at the fastest pace from 2023 to 2024.
These cashflow deficiencies clearly indicate Thailand’s competitive disadvantages with the above countries, but also represent key opportunities for Thailand to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating the Largest Trade Surpluses for Thailand
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Thailand incurred the highest trade surpluses with the following countries.
- United States: US$34.9 billion (country-specific trade surplus in 2024)
- Cambodia: $7.9 billion
- Australia: $6.6 billion
- India: $6 billion
- Netherlands: $5.4 billion
- Hong Kong: $4.6 billion
- Philippines: $4.4 billion
- Mexico: $3.17 billion
- Singapore: $3.16 billion
- Vietnam: $2.5 billion
Among Thailand’s trading partners that generate the greatest positive trade balances, Thailand’s surpluses with Singapore (up 69.4%), Cambodia (up 66.3%) and India (up 47%) grew at the fastest pace from 2023 to 2024.
These positive cashflow streams clearly indicate Thailand’s competitive advantages with the above countries, but also represent key opportunities for Thailand to develop country-specific strategies to optimize its overall position in international trade.
Thailand Major Exports 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 IMPORTERS.com listings for Thai suppliers, the following are examples of companies that ship products from Thailand to its trading partners around the globe. Shown within parenthesis are products that the Thai business provides.
- Dplus Intertrade Co,Ltd (LCD screen protectors)
- Dr.Sandals Online (hand-made sandals)
- Grand Asia Food Industry Company (canned fruits, vegetables)
- Kitthaworn Trading Co, Ltd (artificial flowers)
- LYR Premium Partnership, Ltd (printed T-shirts)
- Mae Chan Winery (wines)
- NF Trading Thailand Ltd (charcoal)
- Penta Pal Trading Co, Ltd (freeze-dried tropical fruits)
- S.T.Rubber Factory, Ltd (automotive, rubber-related)
- Somjit Trading & Services Co,Ltd (clothing manufacturer)
- Victory Gypsum Board Co, Ltd (ceiling tiles)
See also Thailand’s Top 10 Exports, Thailand’s Top 10 Imports and Thailand’s Top 10 Major Export Countries
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on August 25, 2025
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on August 25, 2025
IMPORTERS.com The Online Market for G20 Importers, Germany Import Export Directory. Accessed on August 25, 2025
International Trade Centre, Trade Map. Accessed on August 25, 2025
Investopedia, Net Exports Definition. Accessed on August 25, 2025
Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on August 25, 2025
X-rates.com, Exchange Rates: Euro to US Dollar (monthly average 2024)