Greenland-Thailand Bilateral Trade Analysis 2023
Complete trade statistics: $6.47M total volume •Greenland surplus: $6.47M
Greenland → Thailand
$6.47M
Exports (2023)
Thailand → Greenland
$0
Imports (2023)
Trade Balance
$6.47M
Surplus for Greenland
Total Trade
$6.47M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Greenland and Thailand. Green line shows exports from Greenland, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Greenland-Thailand commercial relationship and competitive positioning in global markets.
Greenland → Thailand Exports
Export Market Intelligence
🎯 Strategic Export Focus
Greenland's export portfolio to Thailand demonstrates strategic specialization, with stones: rubies, sapphires and emeralds, worked (other than simply sawn or roughly shaped), not strung, mounted or set representing a key competitive advantage in this bilateral market.
Thailand → Greenland Imports
Import Dependency Profile
📦 Import Strategy Analysis
Greenland's import pattern from Thailand reveals significant dependencyin stones: precious (other than diamonds) and semi-precious stones, (other than rubies, sapphires and emeralds), worked other than simply sawn or roughly shaped, not strung, mounted or set, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Greenland demonstrates competitive strength in exportingstones: rubies, sapphires and emeralds, worked (other than simply sawn or roughly shaped), not strung, mounted or set to Thailand, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $6.47M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Greenland-Thailand Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $6.47 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Greenland maintains a surplus of $6.47 million
- Export Focus: Greenland's primary exports include stones: rubies, sapphires and emeralds, worked (other than simply sawn or roughly shaped), not strung, mounted or set, crustaceans: frozen, cold-water shrimps and prawns (pandalus spp., crangon crangon), in shell or not, smoked, cooked or not before or during smoking: in shell, cooked by steaming or by boiling in water, stones: precious (other than diamonds) and semi-precious stones, (other than rubies, sapphires and emeralds), worked other than simply sawn or roughly shaped, not strung, mounted or set
- Import Dependencies: Key imports from Thailand include stones: precious (other than diamonds) and semi-precious stones, (other than rubies, sapphires and emeralds), worked other than simply sawn or roughly shaped, not strung, mounted or set, wood: marquetry and inlaid wood, caskets and cases for jewellery or cutlery and similar articles of wood, wooden articles of furniture not falling in chapter 94, jewellery: imitation, cuff links and studs, of base metal, whether or not plated with precious metal
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $6.47M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Greenland leveraging its comparative advantages in stones: rubies, sapphires and emeralds, worked (other than simply sawn or roughly shaped), not strung, mounted or set.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Greenland's specialization in stones: rubies, sapphires and emeralds, worked (other than simply sawn or roughly shaped), not strung, mounted or setcomplements Thailand's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in stones: precious (other than diamonds) and semi-precious stones, (other than rubies, sapphires and emeralds), worked other than simply sawn or roughly shaped, not strung, mounted or set.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $6.47M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $6.47M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $6.47 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in stones: rubies, sapphires and emeralds, worked (other than simply sawn or roughly shaped), not strung, mounted or set and stones: precious (other than diamonds) and semi-precious stones, (other than rubies, sapphires and emeralds), worked other than simply sawn or roughly shaped, not strung, mounted or set demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Greenland's trade surplus of $6.47 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Greenland and Thailand represents a total trade volume of $6.47 million in 2023. This partnership demonstrates a favorable trade balance for Greenland, with exports exceeding importsby $6.47 million.
Export Strengths
Greenland's exports to Thailand total $6.47 million, with competitive advantages in stones: rubies, sapphires and emeralds, worked (other than simply sawn or roughly shaped), not strung, mounted or set, representing $2.67M or41.2% of bilateral exports.
Import Dependencies
Imports from Thailand amount to $0.00, highlighting economic interdependence in stones: precious (other than diamonds) and semi-precious stones, (other than rubies, sapphires and emeralds), worked other than simply sawn or roughly shaped, not strung, mounted or set, with Stones: precious (other than diamonds) and semi-precious stones, (other than rubies, sapphires and emeralds), worked other than simply sawn or roughly shaped, not strung, mounted or set comprisingInfinity% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Greenland's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Greenland and Thailand in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023