Bilateral trade

  • The EU is the world largest trading partner, accounting for 20% of world trade (19% of world trade in goods and 24% of world trade in services). It absorbs one fifth of all developing countries’ exports.
  • In 2010, the EU’s trade with Thailand was approximately €27 billion (ranked no. 24 among all EU’s trading partners).
  • The EU, being the second largest export market for Thailand, contributes in an important way to Thailand’s economic growth. The average growth of bilateral trade between the EU and Thailand in 2006-2010 was 5.3% Thai Exports to the EU grew by more than 20% in 2010, showing a fast recovery following the decline of 18% in 2009.
  • Globally, Thailand is the second largest beneficiary of the EU General System of Preferences (after India) which offers unilateral tariff reductions. Roughly 70% of Thailand's exported goods enter the EU Single Market either with MFN zero duty or under a preferential reduced duty.
  • The strength of Thai exports has led to substantial trade surpluses with the EU. Each year, the value of Thai exports to the EU has been roughly double that of Thai imports from the Community. This has significantly helped strengthen Thailand’s external account and contributed to the GDP which depends heavily on external incomes (approx. 70%).
  • In 2010, the EU ranked as the second largest export market of Thailand (after ASEAN), accounting for approx. 17 billion Euros (ranked no. 18 among all EU’s importing partners).
  • At the same time, the EU is the fourth largest source of imports to Thailand after Japan, ASEAN, and China. In 2010, Thailand’s total imports from the EU were 9.8 billion Euros.
  • Top three imports from Thailand to the EU in 2010 were: (i) Machinery and transport equipment (47.7% of total EU's imports from Thailand) (ii) Miscellaneous manufactured articles (19.3%) and (iii) Food and live animals (13.8%).
  • Top three exports from the EU to Thailand in 2010 were; (i) Machinery and transport equipment (44.7% of total EU’s exports to Thailand), (ii) Chemicals (12.3 %) and (iii) Other semi-manufactures (9.1%).
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