Thailand is the United States' 22nd largest trading partner. Two-way trade in 2010 was about $33 billion, with $23.6 billion in Thai exports to the U.S. and $9 billion in U.S. exports to Thailand. The figures represent an increase of 24 percent in the value of trade between the two countries. U.S. exports to Thailand increased by 28 percent, while US imports from Thailand increased by about 22 percent for the same period in 2009. In Asia, Thailand ranks as the United States’ 8th largest trading partner after China, Japan, South Korea, Taiwan, India, Singapore and Malaysia.
The Thai economy is export-dependent with exports accounting for about 71 percent of its Gross Domestic Product (GDP) in 2010. Since recovering from the Asian financial crisis in the late 1990s, GDP performance has averaged 5-6 percent. The 2010 GDP grew close to 8 percent, as a result of an increase in exports and the Thai Government’s increased spending on its “Thai Khem Khaeng” economic stimulus program. This stimulus package was estimated to have contributed an increase to the Thai GDP of 2.3 percent. The Thai GDP per capita is approximately $8,100 (2009 est.).
The U.S. and Thailand have enjoyed a special commercial relationship for 177 years under the Treaty of Amity and Commerce. Under the treaty, with the exception of some sectors, U.S. companies operating in Thailand are afforded national treatment, or an “equal playing field,” with Thai companies.
Thailand’s economic growth has created opportunities for U.S. companies in a number of infrastructure sectors, including electrical power, telecommunications, and renewable energy. Thai consumers are creating opportunities for new sales of U.S. medical products, cosmetics, security equipment, food supplements and educational services. Thailand also continues to look for U.S. suppliers of automotive accessories, defense equipment, broadcast equipment, food processing and packaging equipment, and environmental technology.
Consulate General of the United States of America
387 Wichaynond Road, Chiang Mai, Thailand 50300
Hours of Operations: Monday - Friday, 7:30am-4:30pm, excluding official holidays.