Thailand chips away at US trade deficit with 62% increase in chip market exports

The United States has been experiencing a growing deficit in its chipmaking trade with Asia, but the good news is that Thailand is helping to chip away at that gap. According to US Census data, US imports of chips grew 17% from last year to US$4.86 billion in February, with Asia accounting for 83% of that total.

Over the past three years, Thailand has been seen as an ailing patient trying to recover from Covid-19. The kingdom’s malady-ridden economy and tourism sector needed more than two vaccine doses and a booster shot to get back on its feet but over the past year, the Land of Smiles has emerged from convalescence much stronger. Tourism is flourishing and exports are on the increase, and that includes the chip industry.

Thailand, Vietnam, India and Cambodia have emerged as early winners this year as semiconductor production begins to move away from traditional centres such as…