Trade News
In October 2003, President Bush announced his intent to enter into Free Trade Agreement (FTA) negotiations with Thailand. Seven rounds of negotiations were held and good progress was made on the text of all chapters of the FTA, although significant work remains outstanding. Negotiations were put on hold when the Thai Parliament was dissolved in February 2006. Negotiations were then suspended in the wake of the military-led coup in September 2006.
Two-way trade has grown, reaching $30.6 billion in 2006. Thailand is the United States’ 20th largest trading partner.
Trade Data
U.S. goods exports in 2006 were $8.2 billion, up 12.4 percent from the previous year. Corresponding U.S. imports from Thailand were $22.5 billion, up 13 percent. Thailand is currently the 24th largest export market for U.S. goods.
U.S. exports of private commercial services (i.e., excluding military and government) to Thailand were $1.5 billion in 2005 (latest data available), and U.S. imports were $1.1 billion. Sales of services in Thailand by majority U.S.-owned affiliates were $3 billion in 2004 (latest data available), while sales of services in the United States by majority Thailand-owned firms were $3 million.
The stock of U.S. foreign direct investment (FDI) in Thailand in 2005 was $8.6 billion (latest data available), up from $7.6 billion in 2004. U.S. FDI in Thailand is concentrated largely in the manufacturing, finance, professional, scientific, and technical services, and wholesale trade sectors.
