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Trade Balance of Goods in Thailand: Overview from 2017 to 2023

Trade Balance of Goods in Thailand: Overview from 2017 to 2023

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TGM StatBox. (2024). Trade Balance of Goods in Thailand: Overview from 2017 to 2023. TGM StatBox.
Chart Details
Data Source: Calculate based World Trade Organization (WTO)'s data (export - import)
Timeframe: 2017-2023
Country: Thailand
Published date: 2024
Note: The trade balance reflects the difference between the value of a country’s exports and imports of goods. This figure was calculated by TGM StatBox, using data from the World Trade Organization (WTO). A positive balance signals a surplus, while a negative one indicates a deficit.
Key Takeaways
Thailand’s trade balance fluctuated significantly, transitioning from a surplus of 25,477.6 million USD in 2020 to a deficit of -13,604.8 million USD in 2022. This shift was driven by rising energy import costs and slowing exports in sectors like electronics and automotive. By 2023, the deficit narrowed to -5,192.3 million USD, reflecting recovery in export demand and stabilizing energy prices.

The trends underscore Thailand’s reliance on export-oriented industries while highlighting its vulnerability to global energy market fluctuations and external demand shocks.

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