India
↔
Thailand

India-Thailand Bilateral Trade Analysis 2023

Complete trade statistics: $16.13B total volume •India deficit: $5.14B

India → Thailand

$5.49B

Exports (2023)

Thailand → India

$10.64B

Imports (2023)

Trade Balance

$5.14B

Deficit for India

Total Trade

$16.13B

Combined Volume

Trade Flow Visualization

Direct trade relationship between India and Thailand. Green line shows exports from India, red line shows imports.

Detailed Product Trade Analysis

Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the India-Thailand commercial relationship and competitive positioning in global markets.

India → Thailand Exports

$5.49B
2023 Total

Export Market Intelligence

Product Diversity:
Highly Diversified
Market Share:
9.3% top product
1Diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set
$512.34M
9.3% of exports
2Engines: compression-ignition internal combustion piston engines (diesel or semi-diesel engines), of a kind used for the propulsion of vehicles of chapter 87
$424.88M
7.7% of exports
3Engines: compression-ignition internal combustion piston engines (diesel or semi-diesel engines), of a kind used for other than marine propulsion or the vehicles of chapter 87
$243.84M
4.4% of exports
4Spices: fruits of the genus Capsicum or Pimenta, dried, neither crushed nor ground
$159.13M
2.9% of exports
5Fish: frozen, n.e.c. in item no. 0303.5, excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99
$152.67M
2.8% of exports
6Oil-cake and other solid residues: whether or not ground or in the form of pellets, resulting from the extraction of rape seed oils (other than low erucic acid rape or colza)
$149.13M
2.7% of exports
7Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
$136.22M
2.5% of exports
8Aluminium: unwrought, (not alloyed)
$124.40M
2.3% of exports
9Molluscs: cuttle fish and squid, whether in shell or not, includes flours, meals, and pellets of molluscs, fit for human consumption, frozen
$111.19M
2.0% of exports
10Telephones for cellular networks or for other wireless networks
$81.74M
1.5% of exports

🎯 Strategic Export Focus

India's export portfolio to Thailand demonstrates strong diversification across multiple sectors, with diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set representing a key competitive advantage in this bilateral market.

Thailand → India Imports

$10.64B
2023 Total

Import Dependency Profile

Supply Diversity:
Well Diversified
Critical Imports:
7.3% concentration
1Vegetable oils: palm oil and its fractions, crude, not chemically modified
$773.35M
7.3% of imports
2Electrical apparatus: photosensitive, including photovoltaic cells, whether or not assembled in modules or made up into panels, light-emitting diodes (LED)
$265.96M
2.5% of imports
3Acids: aromatic polycarboxylic acids: terephthalic acid and its salts
$265.52M
2.5% of imports
4Polycarbonates: in primary forms
$216.90M
2.0% of imports
5Copper: wire, of refined copper, of which the maximum cross-sectional dimension is 6mm or less
$211.09M
2.0% of imports
6Jewellery: of silver, whether or not plated or clad with other precious metal, and parts thereof
$209.41M
2.0% of imports
7Communication apparatus (excluding telephone sets or base stations): machines for the reception, conversion and transmission or regeneration of voice, images or other data, including switching and routing apparatus
$190.27M
1.8% of imports
8Units of automatic data processing machines: storage units
$172.79M
1.6% of imports
9Air conditioning machines: comprising a motor-driven fan and elements for changing the temperature and humidity, of a kind designed to be fixed to a window, wall, ceiling or floor, self-contained or "split-system"
$164.17M
1.5% of imports
10Television cameras, digital cameras and video camera recorders
$164.09M
1.5% of imports

📦 Import Strategy Analysis

India's import pattern from Thailand reveals strategic sourcingin vegetable oils: palm oil and its fractions, crude, not chemically modified, highlighting complementary economic structures and potential supply chain optimization opportunities.

Competitive Trade Position Analysis

🏆

Market Leadership

India demonstrates competitive strength in exportingdiamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set to Thailand, leveraging comparative advantages.

Export Leader in 20+ Categories
🔄

Trade Complementarity

The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.

Specialized Exchange
📈

Growth Potential

The $16.13B trade volume indicates substantial economic integration with room for expansion in emerging sectors.

Major Partnership

Executive Summary: India-Thailand Trade Relationship

Key Trade Highlights 2023

  • Total Trade Volume: $16.13 billionrepresenting a significant bilateral economic relationship
  • Trade Balance: India maintains a deficit of $5.14 billion
  • Export Focus: India's primary exports include diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set, engines: compression-ignition internal combustion piston engines (diesel or semi-diesel engines), of a kind used for the propulsion of vehicles of chapter 87, engines: compression-ignition internal combustion piston engines (diesel or semi-diesel engines), of a kind used for other than marine propulsion or the vehicles of chapter 87
  • Import Dependencies: Key imports from Thailand include vegetable oils: palm oil and its fractions, crude, not chemically modified, electrical apparatus: photosensitive, including photovoltaic cells, whether or not assembled in modules or made up into panels, light-emitting diodes (led), acids: aromatic polycarboxylic acids: terephthalic acid and its salts

Strategic Trade Indicators

Trade IntensityHigh
Export DiversificationDiversified
Trade Balance HealthImbalanced

📈 Market Position: This bilateral trade relationship represents a significant global 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 $16.13B 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 India leveraging its comparative advantages in diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not 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

1

Comparative Advantage

India's specialization in diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or setcomplements Thailand's demand patterns, creating natural trade synergies.

2

Supply Chain Integration

Deep integration in global value chains has strengthened bilateral linkages, particularly in vegetable oils: palm oil and its fractions, crude, not chemically modified.

3

Market Access & Trade Policy

Favorable trade agreements and market access conditions have facilitated the growth of this $16.13B bilateral relationship.

Trade Pattern Insights

Trade ComplementarityAsymmetric
Seasonal VariationsModerate
Product ConcentrationLow
Market DependencyHigh
🔮

Trade Relationship Outlook

The $16.13B 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 $16.13 billion bilateral trade volume represents a significant economic factorfor both economies.

Economic Significance: High
🏭

Industrial Integration

Trade flows in diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set and vegetable oils: palm oil and its fractions, crude, not chemically modified demonstrate deep industrial linkages and supply chain integration.

Supply Chain Integration: Diversified
⚖️

Trade Balance Effects

India's trade deficit of $5.14 billion impacts its overall economic position in this bilateral relationship.

Balance Impact: Import Dependency

Strategic Future Outlook

🚀Growth Opportunities

Emerging Sectors
Technology transfer and innovation cooperation in engines: compression-ignition internal combustion piston engines (diesel or semi-diesel engines), of a kind used for the propulsion of vehicles of chapter 87 present expansion opportunities.
Market Diversification
Beyond current focus on vegetable oils: palm oil and its fractions, crude, not chemically modified, new product categories offer potential for trade expansion.

⚠️Risk Factors

Supply Chain Vulnerabilities
Moderate concentration in key sectors requires monitoring
Market Competition
Global competition in diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set may affect future market positioning.

🎯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 India and Thailand represents a total trade volume of $16.13 billion in 2023. This partnership demonstrates an unfavorable trade balance for India, with imports exceeding exportsby $5.14 billion.

Export Strengths

India's exports to Thailand total $5.49 billion, with competitive advantages in diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set, representing $512.34M or9.3% of bilateral exports.

Import Dependencies

Imports from Thailand amount to $10.64 billion, highlighting economic interdependence in vegetable oils: palm oil and its fractions, crude, not chemically modified, with Vegetable oils: palm oil and its fractions, crude, not chemically modified comprising7.3% of total imports.

The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates India's strategic sourcing from Thailand. 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 India and Thailand in multiple formats.

Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023