Thailand occupies a central position in Southeast Asia’s trade landscape, acting as a bridge between fast-growing regional economies and global markets.

Its strategic geography, coupled with well-developed transport and logistics infrastructure, has made the country a major hub for both exports and imports. 

Over the decades, Thailand has cultivated a strong reputation as a reliable trading partner, underpinned by manufacturing strength, agricultural diversity, and integration into global supply chains.

The country’s trade profile reflects a blend of traditional and modern industries. 

While agriculture and natural resources remain pillars of the economy, Thailand has steadily expanded into higher-value sectors such as electronics, automotive, and machinery. 

This diversification has allowed it to remain competitive internationally while meeting regional demand. 

Its role in global production networks ensures that Thailand is not only exporting finished goods but also contributing as a critical supplier of intermediate products.

Trade policy in Thailand is shaped by a mix of regional integration and global outreach. 

As a member of ASEAN, it benefits from access to one of the world’s largest free trade zones, while also pursuing bilateral and multilateral agreements with key partners across Asia, Europe, and the Americas. 

This outward-facing approach reflects Thailand’s long-standing recognition that trade is central to its growth and development strategy, enabling it to balance domestic priorities with international competitiveness.

Thailand free trade agreements

Thailand has a number of free trade agreements. These include:

Thailand–Australia Free Trade Area (TAFTA)

Entered into force in 2005, this agreement eliminated most tariffs on goods traded between the two countries, boosting agriculture, mining, and services cooperation.

Thailand–New Zealand Closer Economic Partnership (TNZCEP)

Signed in 2005, it removed tariffs on nearly all goods and opened opportunities in education, services, and investment between the two nations.

Japan–Thailand Economic Partnership Agreement (JTEPA)

It came into effect in 2007, reducing tariffs on autos, parts, and electronics, while giving Japan better access to Thai agriculture and food products.

Thailand–India Free Trade Agreement

A limited-scope deal covering trade in selected goods, reducing tariffs and creating preferential access for items such as gems, jewellery, and textiles.

Thailand–Chile Free Trade Agreement

Signed in 2013, it eliminated tariffs on nearly all products, strengthening ties in food, metals, and machinery trade.

Thailand–Peru Free Trade Agreement

Effective from 2011, the agreement opened market access for agricultural goods, processed foods, and industrial products.

ASEAN Free Trade Area (AFTA)

A core ASEAN initiative that progressively reduced tariffs among member states, aiming for a single market and production base.

ASEAN–China Free Trade Agreement (ACFTA)

Signed in 2002 and fully implemented in 2010, it created one of the world’s largest FTAs, covering goods, services, and investment.

ASEAN–Korea Free Trade Agreement (AKFTA)

Signed in 2006, it reduced tariffs on goods and expanded cooperation in services, investment, and economic development.

ASEAN–Japan Comprehensive Economic Partnership (AJCEP)

Entered into force in 2008, enhancing trade in goods and services and deepening regional supply chain integration.

ASEAN–Australia–New Zealand Free Trade Agreement (AANZFTA)

Came into effect in 2010, covering goods, services, investment, and intellectual property, with comprehensive economic cooperation.

ASEAN–India Free Trade Agreement (AIFTA)

Signed in 2009, it reduced tariffs on goods and supported cooperation in services, investment, and business mobility.

Regional Comprehensive Economic Partnership (RCEP)

Effective from 2022, it unites ASEAN with China, Japan, South Korea, Australia, and New Zealand, creating the world’s largest trade bloc by population and GDP.

EFTA–Thailand Free Trade Agreement

Signed in January 2025 with Iceland, Liechtenstein, Norway, and Switzerland, it covers trade in goods, services, investment, and sustainability. Entry into force is pending ratification.

EU–Thailand Free Trade Agreement (under negotiation)

Negotiations restarted in 2022, aiming for a comprehensive FTA covering goods, services, investment, government procurement, and sustainable development.

ASEAN–Canada Free Trade Agreement (under negotiation)

Talks launched in 2021, with a target conclusion in 2026, focusing on goods, services, investment, digital trade, and sustainability.

Other negotiations and upgrades

Thailand is pursuing or upgrading 11 FTAs, including deeper integration within ASEAN and new deals with emerging partners to diversify trade links.

Tariffs and trade barriers

Thailand maintains a mixed system of tariffs and non-tariff measures to regulate trade. 

While many duties have been reduced under free trade agreements and WTO commitments, protective measures remain in place for sensitive sectors such as agriculture and automotive. 

These policies aim to balance market access with support for domestic industries.

Thailand’s average tariff rates

Average applied tariff rates are moderate compared with regional peers, but there are significant variations across sectors. 

Industrial products generally face lower duties, reflecting Thailand’s integration into global manufacturing supply chains. 

By contrast, agricultural and processed food products are subject to higher tariffs to protect local producers.

Non-tariff barriers in Thailand

Beyond tariffs, Thailand enforces a range of non-tariff barriers, including licensing requirements, import quotas, and product standards. 

Regulatory procedures can be complex, particularly in food safety, pharmaceuticals, and chemicals. 

These measures serve consumer protection and quality assurance goals but can also act as obstacles for foreign firms seeking market entry.

Key Thailand  trade bodies

Some key Thailand trade bodies and groups are:

Ministry of Commerce

The Ministry of Commerce is Thailand’s main policymaker for trade. 

It negotiates bilateral and multilateral agreements, administers tariff schedules, and ensures compliance with World Trade Organization commitments. 

It also regulates imports and exports, protects intellectual property, and develops strategies to expand market access for Thai goods and services abroad.

Office of Trade Competition Commission (OTCC)

The OTCC is the independent body that enforces Thailand’s competition law. 

Its mandate is to prevent monopolies, review mergers and acquisitions, and take action against unfair trade practices. 

By ensuring a level playing field, the OTCC supports transparent markets and protects both domestic and foreign businesses from anti-competitive behaviour.

Thailand Board of Investment (BOI)

The BOI is the lead agency promoting foreign and domestic investment. 

It provides tax incentives, duty exemptions, and other benefits to attract capital into priority sectors such as high-tech manufacturing, digital industries, and green energy. 

The BOI also helps investors navigate Thailand’s regulatory framework and provides aftercare services to sustain long-term investment.

Thai Customs Department

The Customs Department enforces import and export laws, collects duties, and inspects goods at borders and ports. 

It plays a central role in trade facilitation by adopting digital clearance systems and aligning procedures with global standards. 

At the same time, it is tasked with protecting national security and preventing smuggling or counterfeit goods from entering Thailand.

Federation of Thai Industries (FTI)

The FTI is Thailand’s most influential industrial association. 

It represents manufacturers across diverse sectors, from automotive and electronics to food processing and textiles.

Its activities include policy advocacy, providing business intelligence, supporting technology transfer, and assisting members in meeting export standards. 

Thai Chamber of Commerce and Board of Trade of Thailand

The Thai Chamber of Commerce, together with the Board of Trade, represents businesses of all sizes, including exporters, importers, and service providers. 

It advocates for reforms to reduce trade barriers, improve logistics, and create a more business-friendly environment.

International Chamber of Commerce (ICC) – Thailand

ICC Thailand represents the global ICC network in the country. 

It works on standardising international trade rules, promoting arbitration and mediation services, and raising awareness of global best practices in areas such as finance, shipping, and intellectual property.

American Chamber of Commerce (AMCHAM) Thailand

AMCHAM Thailand serves as the main business platform for US-affiliated firms operating in the country. 

It provides advocacy on trade and investment issues, engages in dialogue with Thai authorities, and supports its members with sector-specific committees.

Thailand trade zones

Thailand has a number of trade zone structures. These include: 

Special Economic Zones (SEZs)

Ten border provinces including Tak, Nong Khai, Trat, and Songkhla host SEZs. 

These aim to boost cross-border trade, attract export-oriented industries, and provide incentives such as tax breaks, duty exemptions, and streamlined customs.

Industrial estates

Developed by the Industrial Estate Authority of Thailand (IEAT) and private firms, these estates provide land, infrastructure, and utilities for manufacturing. 

Many estates, especially along the Eastern Seaboard, serve as bases for automotive, electronics, and petrochemical industries.

Free zones and duty-free areas

Designated customs areas at ports and airports where goods can be imported, stored, processed, and re-exported with reduced or no duties. 

These zones are designed to support logistics, warehousing, and re-export trade.

Economic corridors

Thailand has created regional corridors beyond the EEC, such as the Northern, Northeastern, and Southern Economic Corridors. 

These aim to decentralise growth, improve connectivity, and develop specialised industries like bioeconomy, tourism, and agriculture.

Trade logistics in Thailand 

Trade logistics in Thailand plays a central role in supporting the country’s position as a regional trading hub in Southeast Asia.

Its strategic location, extensive transport networks, and growing digitalisation of supply chains make it a key link between major Asian economies and global markets. 

The sector underpins Thailand’s export-led growth model, enabling efficient movement of goods and connecting producers to international buyers.

Transport infrastructure

Thailand has a well-developed logistics backbone, anchored by road, rail, sea, and air networks. 

Road transport dominates domestic cargo movement, while new rail projects, including high-speed links, aim to improve regional connectivity. 

Major deep-sea ports such as Laem Chabang and Map Ta Phut handle the bulk of maritime trade, while Suvarnabhumi and Don Mueang airports support both passenger and air freight operations.

Logistics services

A wide range of logistics providers operate in Thailand, from local firms to global players.

Services include freight forwarding, customs brokerage, warehousing, and distribution. 

Increasingly, third-party logistics (3PL) and fourth-party logistics (4PL) providers are used to streamline supply chains, particularly in manufacturing and e-commerce.

Policy and facilitation

The Thai government prioritises logistics as part of its economic development strategy.

Initiatives include the Eastern Economic Corridor development, customs modernisation, and cross-border transport agreements with neighbouring ASEAN countries. 

These measures aim to cut costs, reduce clearance times, and strengthen Thailand’s role as a regional trade hub.

Trade data

Thailand’s trade in 2024 maintained positive momentum, expanding by 5.9 percent to US$607.34 billion. 

Despite growth in both exports and imports, Thailand recorded an annual trade deficit of US$6.28 billion, reflecting a stronger pace of import expansion compared to exports.

Exports

For the full year 2024, Thai exports climbed 5.4 percent to a record US$300.53 billion, surpassing the US$300 billion mark for the first time. 

Growth was supported by industrial products such as computers, machinery, and chemicals, as well as agricultural goods including rubber and processed chicken. 

Gains were broad-based across key markets including the US, China, the EU, CLMV, and Japan.

Imports

In 2024, Thai imports rose 6.3 percent to US$306.81 billion. 

While this supported production capacity, it also widened the trade deficit, which stood at US$10.6 million in December and US$6.28 billion for the year.

Key imports

Thailand’s imports are diverse. There are, however, a few main categories. These include:

Capital goods and raw materials

Thailand’s imports of capital goods and raw materials increased strongly in 2024, reflecting the country’s ongoing dependence on imported inputs for industrial activity. 

These imports included equipment, production machinery, and construction materials, which are critical for supporting both export industries and domestic infrastructure development. 

Industrial inputs

Industrial inputs such as machinery, mechanical components, chemicals, and electronics represented a substantial portion of Thailand’s import profile. 

These goods are essential for sustaining major export industries, particularly automotive, electronics, and petrochemicals. 

For example, imported machinery and components are widely used in Thailand’s automotive supply chain, while chemicals and electronics serve as inputs for both domestic production and re-exports.

Energy and commodities

Energy products, including crude oil and refined fuels, continued to make up a large share of imports in 2024. 

These commodities are necessary for both industrial and household consumption but add volatility to trade values due to fluctuating global prices. 

Energy imports also contribute significantly to the country’s trade deficit, as domestic production cannot fully meet demand. 

Agricultural inputs

Imports of agricultural inputs, including foodstuffs, and raw materials for animal feed and food processing, remain important to Thailand’s trade profile. 

Products such as wheat, soybeans, dairy products, and animal feed ingredients are sourced from abroad to complement domestic agricultural production. 

Key exports

Thailand’s exports are diverse. There are, however, a few main categories. These include:

Agricultural and food products

Thailand has a long-standing advantage in agricultural exports, particularly natural rubber, which feeds global demand in automotive and manufacturing sectors. 

Poultry and seafood, including both fresh and processed varieties, are major contributors to food trade. 

Tapioca products and processed fruits highlight Thailand’s strength in value-added agro-industry, while rice, despite fluctuations, continues to be one of the country’s signature exports.

Industrial and manufactured goods

Electronics and computers are among Thailand’s top export earners, supported by a strong base of assembly and component manufacturing. 

Machinery, mechanical parts, and chemicals also rank highly, linking Thailand to global supply chains in both industrial and consumer sectors. 

Automotive exports, especially vehicles and parts, are a cornerstone of the economy, even as they face increasing competition and shifts towards electric vehicles. 

Rubber products, such as tyres and industrial goods, further showcase the integration of agriculture with industrial production.

High-value products

Beyond food and industrial goods, Thailand is well known for gems and jewellery, particularly polished stones and crafted items. 

These exports cater to niche, high-income markets and diversify the country’s trade profile. 

Together with specialty products like pet food and processed foods, they reflect Thailand’s push to expand into higher-value, globally recognised segments.

Regional comparison

Thailand is ASEAN’s second-largest economy with a broad trade base. Its exports include autos, machinery, electronics, rubber, and processed foods, balancing both agriculture and manufacturing. 

Here is how it compares to its regional neighbours:

Vietnam

Vietnam has become one of the region’s fastest-growing exporters, specialising in electronics and electrical goods. 

Heavy foreign investment has made it a central hub in global supply chains, increasingly competing with Thailand for manufacturing-based exports.

Indonesia

Indonesia’s trade is dominated by commodities such as coal, palm oil, and minerals. 

While it benefits from high global demand for resources, its export structure is less diversified, with limited presence in advanced manufacturing compared to Thailand and Vietnam.

Malaysia

Malaysia exports electronics, oil, and gas, giving it a mix of industrial and energy-driven trade. Its profile is similar to Thailand’s industrial exports but leans more heavily on energy. 

A smaller domestic market limits scale compared to its larger ASEAN peers.

Philippines

The Philippines has a growing trade profile, driven mainly by electronics, semiconductors, and services. 

Unlike Thailand, its agricultural and industrial exports are narrower in scope, but its strong electronics sector and expanding business process outsourcing industry support export earnings.

FAQ: Trade in Thailand

These are some of the most commonly asked questions about trade in Thailand.

What are Thailand’s biggest exports?

Thailand’s main exports are electronics, machinery, automobiles and parts, rubber, processed foods, and gems/jewellery.

What are Thailand’s biggest imports?

Thailand’s main imports are capital goods, machinery, electronics, chemicals, oil and refined fuels, and agricultural inputs.

What free trade agreements is Thailand a part of?

Thailand is a part of several free trade agreements including: ASEAN Free Trade Area, RCEP, ASEAN+ FTAs (with China, Japan, Korea, India, Australia, New Zealand), plus bilateral deals with Australia, New Zealand, Japan, India, Chile, Peru, and the recently signed EFTA agreement.

Outlook for Thailand trade

Thailand’s trade outlook  points to moderate growth, with exports projected to rise slightly, partly boosted by front-loaded shipments ahead of new U.S. tariffs. 

Medium-term opportunities lie in electric vehicles, renewable energy components, chemicals, and health-tech, supported by infrastructure and logistics upgrades through initiatives like the Eastern Economic Corridor.

However, risks remain significant. Escalating global trade tensions, especially with the US currency appreciation reducing competitiveness, and weaker global demand. 

Political uncertainty and supply chain disruptions also pose challenges, making trade growth dependent on both domestic reforms and external stability

That said, Southeast Asian economies can be dynamic and change quickly.

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