Trade and Investment
Thai – U.S. Economic Relations
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. It helps facilitates U.S. and Thai companies’ economic access to one another’s markets. 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, and APEC and ASEAN agendas.
The two countries also have agreements addressing sales of agricultural commodities and investment guarantees and reconvened the Joint Council in 2013 under the Trade and Investment Framework Agreement to advance bilateral trade. In 2013, Thailand and the United States signed an historic agreement on science and technology cooperation that enshrines robust protections for intellectual property while facilitating increased joint research programs, government to government collaboration, and private sector investment and technology transfer.
Thailand-U.S. Trade Facts
Thai goods and services trade with the U.S. totaled $38.24 billion in 2014.
• Exports totaled $23.64 billion
• Imports totaled $14.60 billion.
Thailand’s goods and services trade surplus with the U.S. was $9.03 billion in 2014.
In 2014, the U.S. was the 2nd largest export market to Thailand. Thailand was the U.S.’ 24th largest goods trading partner and was the United States’ 27th largest goods export market. The top 5 export categories (4-digit HS) from Thailand to the U.S. in 2014 were:
1. Automatic Data Processing ($3.23 billion)
2. Articles of Jewelry ($1.03 billion)
3. Electrical Apparatus ($946 million)
4. New Pneumatic Tires ($806 million)
5. and Television Receivers ($787 million).
The U.S. was the 3rd largest import market for Thailand in 2014. Thailand was the U.S.’ 19th largest supplier of goods imports. The 5 largest Thailand import from U.S. categories in 2014 were:
1. Petroleum Oils ($33.25 billion)
2. Electronic Integrate ($9.69 billion)
3. Gold ($6.61 billion)
4. Petroleum Gases ($6.59 billion)
5. Petroleum Oils& Oils ($5.58 billion).
U.S. foreign direct investment (FDI) in Thailand (stock) was 16.9 billion in 2012, a 16.1% increase from 2011. U.S. FDI in Thailand is led by the manufacturing and banking sectors. Thailand FDI in the United States (stock) was $180 million in 2012, up 39.5% from 2011.
Sorce of information: Office of Commercial Affairs, Washington, DC