Thailand Import Data in 2023 - Tendata

tendata blogImport News

ten data blog10-05-2024

In 2023, Thailand imported products worth $292 billion from around the world. Compared to the same period last year, the overall cost of Thailand's imported products decreased by -4.7% from $306.3 billion in 2019.

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Top Suppliers for Thailand Imports

The latest Thailand import data shows that 69.9% of imported products are supplied by exporters from the following countries: United States (17.1%), Mainland China (12.1%), Japan (8.7%), Australia (4.24%), Malaysia (4.17%), Vietnam (3.94%), Hong Kong (3.9%), Singapore (3.6%), India (3.58%), Indonesia (3.5%), the Philippines (2.8%), and Cambodia (2.3%).

From a mainland perspective, 75.7% of Thailand's imports in 2023 were purchased from other Asian countries. European trading partners provided 9.7% of imports to Thailand, while an additional 6.7% came from North America. Oceania accounted for 3% of the total, with smaller percentages coming from Africa (2.8%) and Latin America (2.2%).

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Top 10 Import Products for Thailand

According to 2-digit HS codes, Thailand import data indicates that the top ten import products account for 73.9% of the total value of products purchased from other countries:

1. Machinery and equipment: $58.9 billion (20.2% of total imports)

2. Mineral fuels including oil: $55.2 billion (18.9%)

3. Machinery including computers: $31 billion (10.6%)

4. Vehicles: $14.8 billion (5.1%)

5. Precious stones and metals: $13.6 billion (4.6%)

6. Iron and steel: $12.1 billion (4.2%)

7. Plastics and plastic products: $9.8 billion (3.4%)

8. Iron and steel products: $7.9 billion (2.7%)

9. Optical, technical, medical equipment: $6.7 billion (2.3%)

10. Other chemicals: $5.9 billion (2%)

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Among these main categories, the products that attracted the fastest growth in Thailand's import purchases were vehicles (increased by 32% compared to 2022), machinery including computers (increased by 5.9%), followed by imports of optical, technical, and medical equipment (increased by 4.3%).

The category with the most significant decline was precious stones and metals (decreased by -19.8% compared to 2022), attributed to reduced gold spending and a -16.6% year-on-year decrease in Thailand's import volume of metal and steel.

At a more detailed four-digit level, Thailand import data indicates that Thailand's importers spend the most on crude oil, electronic integrated circuits and microcomponents, petroleum gas, gold, telephone equipment (including smartphones), automotive parts or accessories, computers, petroleum refining, automobiles, and miscellaneous items made of iron or steel. Overall, these top products account for over one-third (36.3%) of Thailand's total import expenditure.

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