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Thailand Snapshot

Thailand Snapshot

Economic Profile

Supannahong pictureCurrently, Thailand is the United States' 24th largest trading partner. Two-way trade in 2007 was approximately $31 billion, with $23 billion in Thai exports to the U.S. and $8 billion in U.S. exports to Thailand. U.S. exports to Thailand grew 4% and imports to the U.S. grew around 1% in 2007. In Asia, Thailand ranks as the U.S.'s 7th largest trading partner after China, Japan, Taiwan, Korea, Singapore and Malaysia. 

The Thai Economy os ex[prt-dependent with exports accounting for 60% of its GDP. GDP performance has averaged 5-6% since recovery from the Asian financial crisis. 2007 GDP growth stood at 4.8% and 2008 forecast is for similar results. GDP per capita is $3,400.

Doing Business in Thailand

Thailand's businesses and consumers are extremely price-conscious, and tend to favor  lower prices over product quality or other benefits. Exporters, whose products have a competitive advantage other than price, should plan to work with local Thai partners and undertake an extensive strategic marketing plan. Furthermore, Thailand's average applied MFN tariff rate is 11% with the agricultural sector being 24% and industrial sector 9%. The highest tariff rates applied to imports are those competing with locally produced goods. These often lead to even further price pressures for U.S. exporters hoping to successfully penetrate the Thai market. However, with corruption, lack of transparency in government procurements, and piracy of intellectual property rights rampant, U.S. companies still face major concerns when conducting business in Thailand.

Growth Opportunities

Robust economic growth in Thailand has created numerous opportunities for U.S. companies in varying industry sectors. This section features the best prospective industries in Thailand. To find more information about a particular industry or obtain a complete listing of industries in Thailand, contact one of our Commercial Specialists.

Best Prospects

  • Automotive Parts and Service
  • Broadcast Equipment
  • Cosmetic Products Market
  • Defense Equipment 
  • Education Services - Study Abroad
  • Electrical Power Systems 
  • Food Processing and Packaging Equipment
  • Healthcare and Medical Equipment
  • Laboratory and Scientific Instruments (LAB) 
  • Safety and Security Equipment
  • Telecommunication Equipment
  • Water Pollution Control Equipment

Provided below is a compilation of leading industry sectors in Thailand. Features include: industry overview, trade show events. and current market trends.

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