Thailand has one of the strongest economies in South East Asia, and it is an excellent place to source products and raw materials for your business. If you have only ever been to Thailand on holiday and you are not aware of its exports, below are some of the biggest exports of Thailand. If any of these exports are within your industry, you may wish to consider visiting Thailand on business and striking up some new business partnerships.
One of the biggest exports that Thailand has is refined petroleum, which in 2019 accounted for $7.84 billion of trade. Thailand does have oil and gas reserves in the Gulf of Thailand and the Andaman Sea, and they also refine petroleum from other countries such as Malaysia, which has more significant oil reserves than Thailand. If you are looking for refined petroleum and other related products, then negotiating a deal with a Thai company may prove to be lucrative for your business.
Precious Metals & Gemstones
There is also a large market in Thailand for precious metals and gemstones, and these can be the raw materials or the finished products. Thailand is a country that is well known for its skilled artisans that can create exquisite handmade jewellery of the highest quality. Whether you are looking to source the raw materials and refine them into finished products, or you want wholesale sterling silver jewelery, Thailand is an excellent source of precious metals and gemstones.
Rubber is another export which makes up a significant part of the Thailand GDP, and the raw natural rubber is shipped all over the world. Rubber is used in various industries, and the quality of Thai rubber is high, so it can be an excellent source for the raw materials that your business needs. Thailand is the biggest exporter of natural rubber in the world and enjoys supplying around one-third of the global requirements of rubber, and almost half of what they produce will end up in China.
Another product which is high on the export list of Thailand is rice, and they export over 20% of the rice available on the world market. There are many different strains of rice, and Thai Jasmine rice is one of the most sought-after commodities. Thailand is the second-largest exporter of rice in the world behind India, and the global rice market is worth a staggering $25.4 billion each year.
These are some of the biggest exports in Thailand, which can help your business, but there are more besides. For a full list of exports from Thailand, please click here.