Discover our latest insights into Thailand including business news, regulatory updates and extensive data on Thailand free trade, double tax agreements and foreign direct investment laws.
Formerly known as Siam and officially known as the Kingdom of Thailand, Thailand is a country located at the center of the Indochina peninsula in Southeast Asia. It is bordered to the north by Myanmar and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by Myanmar and the Andaman Sea.
Thailand is an emerging economy that is heavily export-dependent, with exports accounting for more than two-thirds Thailand's GDP. It is also the world's number one exporter of rice, shipping more than 6.5 million tons of milled rice annually. Other important industries include electrical appliance and component manufacturing, automobiles, and tourism.
Thailand is currently the 2nd largest economy in Southeast Asia after Indonesia. However, it ranks as the 4th richest nation according to GDP per capita in the region after Singapore, Brunei and Malaysia.
Thailand's imports include capital goods, intermediate goods and raw materials, consumer goods and fuels. Thailand's main exports are textiles and footwear, fishery products, rice, rubber, jewelry, automobiles, computers and electrical appliances.
Major export partners of Thailand are China (12 percent), Japan (10.5 percent), the United States (9.6 percent), Hong Kong (7.2 percent), Malaysia (5.4 percent), Singapore (5 percent) and Indonesia (4.4 percent). Major import partners include Japan (18.4 percent), China (13.4 percent), United Arab Emirates (6.3 percent), the United States (5.9 percent), Malaysia (5.4 percent) and South Korea (4 percent).