Viet Nam-Thailand Bilateral Trade Analysis 2023
Complete trade statistics: $18.95B total volume •Viet Nam deficit: $3.48B
Viet Nam → Thailand
$7.74B
Exports (2023)
Thailand → Viet Nam
$11.22B
Imports (2023)
Trade Balance
$3.48B
Deficit for Viet Nam
Total Trade
$18.95B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Viet Nam and Thailand. Green line shows exports from Viet Nam, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Viet Nam-Thailand commercial relationship and competitive positioning in global markets.
Viet Nam → Thailand Exports
Export Market Intelligence
🎯 Strategic Export Focus
Viet Nam's export portfolio to Thailand demonstrates strong diversification across multiple sectors, with oils: petroleum oils and oils obtained from bituminous minerals, crude representing a key competitive advantage in this bilateral market.
Thailand → Viet Nam Imports
Import Dependency Profile
📦 Import Strategy Analysis
Viet Nam's import pattern from Thailand reveals strategic sourcingin petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Viet Nam demonstrates competitive strength in exportingoils: petroleum oils and oils obtained from bituminous minerals, crude to Thailand, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $18.95B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Viet Nam-Thailand Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $18.95 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Viet Nam maintains a deficit of $3.48 billion
- Export Focus: Viet Nam's primary exports include oils: petroleum oils and oils obtained from bituminous minerals, crude, telephones for cellular networks or for other wireless networks, electronic integrated circuits: n.e.c. in heading no. 8542
- Import Dependencies: Key imports from Thailand include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, electrical apparatus: photosensitive, including photovoltaic cells, whether or not assembled in modules or made up into panels, light-emitting diodes (led), air 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"
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 $18.95B 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 Viet Nam leveraging its comparative advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude.
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
Viet Nam's specialization in oils: petroleum oils and oils obtained from bituminous minerals, crudecomplements Thailand's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $18.95B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $18.95B 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 $18.95 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in oils: petroleum oils and oils obtained from bituminous minerals, crude and petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Viet Nam's trade deficit of $3.48 billion impacts 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 Viet Nam and Thailand represents a total trade volume of $18.95 billion in 2023. This partnership demonstrates an unfavorable trade balance for Viet Nam, with imports exceeding exportsby $3.48 billion.
Export Strengths
Viet Nam's exports to Thailand total $7.74 billion, with competitive advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude, representing $595.66M or7.7% of bilateral exports.
Import Dependencies
Imports from Thailand amount to $11.22 billion, highlighting economic interdependence in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, with Petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils comprising8.8% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Viet Nam'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 Viet Nam and Thailand in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023