Thailand is an important trading partner and ally of the United States, dating back to the establishment of diplomatic ties in 1833 through the Treaty of Amity and Commerce. The United States and Thailand meet regularly under the auspices of our 2002 bilateral Trade and Investment Framework Agreement (TIFA) to address outstanding bilateral issues and coordinate on bilateral, regional, and multilateral issues. The latest information regarding significant trade barriers can be found in the 2024 National Trade Estimate Report, see here.
Thailand Trade Summary
U.S. goods and services trade with Thailand totaled an estimated $88.3 billion in 2024, up 13.6 percent ($10.6 billion) from 2023.
U.S. total goods trade (exports plus imports) with Thailand was an estimated $81.2 billion in 2024. U.S. goods exports to Thailand in 2024 were $17.9 billion, up 15.0 percent ($2.3 billion) from 2023. U.S. goods imports from Thailand in 2024 totaled $63.3 billion, up 12.6 percent ($7.1 billion) from 2023. The U.S. goods trade deficit with Thailand was $45.5 billion in 2024, a 11.7 percent increase ($4.8 billion) over 2023.
U.S. total services trade (exports plus imports) with Thailand totaled an estimated $7.1 billion in 2024. U.S. services exports to Thailand in 2024 were $3.5 billion, up 12.9 percent ($397 million) from 2023. U.S. services imports from Thailand in 2024 were $3.6 billion, up 27.2 percent ($773 million) from 2023. The U.S. services trade deficit with Thailand was $140 million in 2024, compared to a services trade surplus of $236 million in 2023.
