Thailand’s trade deficit with China reaches record high

The deficit is the result of Thailand importing more goods from China than it exports. In 2023, Thailand’s imports from China totalled $105 billion, while its exports were just $69 billion.

According to Chaichan Charoensuk, chairman of the Shippers’ Council of Thailand and the Exporters Council, China is Thailand’s largest trading partner, accounting for 22% of Thailand’s total trade. Thailand imports a wide range of goods from China, including electronics, machinery, and chemicals. Thailand exports mostly agricultural products, such as rubber, rice, and seafood, to China.