Thailand-India Bilateral Trade Analysis 2023
Complete trade statistics: $16.13B total volume •Thailand surplus: $5.14B
Thailand → India
$10.64B
Exports (2023)
India → Thailand
$5.49B
Imports (2023)
Trade Balance
$5.14B
Surplus for Thailand
Total Trade
$16.13B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Thailand and India. Green line shows exports from Thailand, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Thailand-India commercial relationship and competitive positioning in global markets.
Thailand → India Exports
Export Market Intelligence
🎯 Strategic Export Focus
Thailand's export portfolio to India demonstrates strong diversification across multiple sectors, with vegetable oils: palm oil and its fractions, crude, not chemically modified representing a key competitive advantage in this bilateral market.
India → Thailand Imports
Import Dependency Profile
📦 Import Strategy Analysis
Thailand's import pattern from India reveals significant dependencyin diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Thailand demonstrates competitive strength in exportingvegetable oils: palm oil and its fractions, crude, not chemically modified to India, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $16.13B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Thailand-India Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $16.13 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Thailand maintains a surplus of $5.14 billion
- Export Focus: Thailand's primary exports 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
- Import Dependencies: Key imports from India 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
Strategic Trade Indicators
📈 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 Thailand leveraging its comparative advantages in vegetable oils: palm oil and its fractions, crude, not chemically modified.
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
Thailand's specialization in vegetable oils: palm oil and its fractions, crude, not chemically modifiedcomplements India's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set.
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 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.
Industrial Integration
Trade flows in vegetable oils: palm oil and its fractions, crude, not chemically modified and diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Thailand's trade surplus of $5.14 billion 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 Thailand and India represents a total trade volume of $16.13 billion in 2023. This partnership demonstrates a favorable trade balance for Thailand, with exports exceeding importsby $5.14 billion.
Export Strengths
Thailand's exports to India total $10.64 billion, with competitive advantages in vegetable oils: palm oil and its fractions, crude, not chemically modified, representing $773.35M or7.3% of bilateral exports.
Import Dependencies
Imports from India amount to $5.49 billion, highlighting economic interdependence in diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set, with Diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set comprising9.3% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Thailand'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 Thailand and India in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023