Thailand is an important trading partner and ally of the United States, with the treaty basis to the relationship dating back to the establishment of diplomatic ties in 1833 through the original Treaty of Amity and Commerce.
Under a Trade and Investment Framework Agreement (TIFA) signed in 2002, U.S. and Thai officials engage on trade and investment issues such as intellectual property rights, customs issues, the WTO Doha negotiations, our APEC and ASEAN agendas, and Thailand’s interest in the Trans-Pacific Partnership Agreement (TPP). The United States and Thailand launched Free Trade Agreement negotiations in 2004 but suspended them in 2006 following the dissolution of the Thai Parliament and the subsequent military-led coup.
U.S.-Thailand Trade Facts
U.S. goods and services trade with Thailand totaled $40 billion in 2011. Exports totaled $13 billion; Imports totaled $27 billion. The U.S. goods and services trade deficit with Thailand was $14 billion in 2011.
Thailand is currently our 25th largest goods trading partner with $37.1 billion in total (two ways) goods trade during 2012. Goods exports totaled $11.0 billion; goods imports totaled $26,1 billion. The U.S. goods trade deficit with Thailand was $15.2 billion in 2012.
Trade in services with Thailand (exports and imports) totaled $4.1 billion in 2011. Services exports were $2.2 billion; services imports were $1.9 billion. The U.S. services trade surplus with Thailand was $291 million in 2011.
Thailand was the United States’ 27th largest goods export market in 2012.
U.S. goods exports to Thailand in 2012 were $11.0 billion, down .1% ($13 million) from 2011, and up 65% from 2000.
The top export categories (2-digit HS) in 2012 were: Electrical Machinery ($2.0 billion), Machinery ($1.5 billion), Precious Stones (gold) ($826 million), Aircraft ($753 million), and Optic and Medical ($621 million).
U.S. exports of agricultural products to Thailand totaled $1.5 billion in 2012, making it the 7th largest U.S. Ag export market. Leading categories include: soybeans ($407 million), wheat ($180 million), cotton ($179 million), feeds and fodders ($120 million), and miscellaneous horticulture ($100 million).
U.S. exports of private commercial services (i.e., excluding military and government) to Thailand were $2.2 billion in 2011, 17.4% ($321 million) more than 2010 and 90% greater than 2000 level. Other private services (business, professional, and technical services) category led U.S. exports in 2011.
Thailand was the United States’ 17th largest supplier of goods imports in 2012.
U.S. goods imports from Thailand totaled $26.1 billion in 2012, a 5.1% increase ($1.3 billion) from 2011, and up 59% from 2000. U.S. imports from Thailand accounted for 1.1% of overall U.S. imports in 2012.
The five largest import categories in 2012 were: Electrical Machinery ($6.3 billion), Machinery ($5.7 billion), Rubber ($2.4 billion), Precious Stones (jewelry) ($1.4 billion), and Prepared Meat, Fish (shrimp and tuna) ($1.2 billion).
U.S. imports of agricultural products from Thailand totaled $2.4 billion in 2012, the 10th largest supplier of Ag imports. Leading categories include: shrimp and prawns ($1.2 billion), rubber and allied products ($699 million), tuna ($594 million), and rice ($436 million).
U.S. imports of private commercial services (i.e., excluding military and government) were $1.9 billion in 2011, up 6.8% ($119 million), and up 103% from 2000 level. Other private services (business, professional, and technical services) and travel categories accounted for most of U.S. services imports from Thailand.
The U.S. goods trade deficit with Thailand was $15.2 billion in 2012, a 9.2% increase ($1.3 billion) over 2011.The U.S. goods deficit with Thailand accounted for 2.1% of the overall U.S. goods deficit in 2012.
The United States had a services trade surplus of $291 million in 2011, up 227% from 2010.
U.S. foreign direct investment (FDI) in Thailand (stock) was $11.3 billion in 2011, a 7.6% increase from 2010.U.S. FDI in Thailand is led by the manufacturing and banking sectors.
Thailand’s FDI in the United States (stock) was $118 million in 2011, down 25.3 from 2010. The distribution of Thailand’s FDI in the United States was not available in 2011.
Sales of services in Thailand by majority U.S.-owned affiliates were $4.1 billion in 2010 (latest data available), while sales of services in the United Sates by majority Thailand-owned firms were $151 million.