Thailand is famous for exotic holiday destination. Tourism looks to be primarily source for earning foreign currency. However with India trade balance is in favor of Thailand. India imports good to Thailand worth 3.6 billion US dollar while import is almost double at 7.13 billion USD. India has trade deficit to the tune of 3.48 billion USD.
Key Points of India Thailand trade balance in 5 years
- Export to Thailand increased by 16.6% in FY 2017-18
- Import from Thailand increased by 31.8%
- India’s export to Thailand in 5 years was highest in 2013-14 at 3.7 billion USD.
- India’s import from Thailand was highest in 2017-18 at 7.13 billion USD.
- Trade balance is in favor of Thailand in tune of 3.48 billion USD.
- India’s total export was highest in 2013-14 at 314 billion usd in last 5 years.
- India’s import from Thailand is increasing and it has been increased 33% from 2013-14
Also read, India Pakistan trade balance analysis for 5 years : 2013- 2018
Review and Analysis of India Thailand trade balance
India majorly imports Nuclear reactors, boilers, machinery and mechanical appliances followed by electrical machinery and equipment. Plastic articles, organic chemicals and vehicles are other important commodities India look at Thailand for importing.
Top 20 commodities Imported from Thailand
|
Commodity | 2016-17 | 2017-18 | %Growth | |
| 1 | Nuclear Reactors, Boilers, Machinery And Mechanical Appliances; Parts Thereof. | 1,184.7 | 1,341.8 | 13.3 | |
| 2 | Electrical Machinery And Equipment And Parts Thereof; Sound Recorders And Reproducers, Television Image And Sound Recorders And Reproducers,And Parts. | 770.9 | 981.9 | 27.4 | |
| 3 | Plastic And Articles Thereof. | 727.3 | 975.7 | 34.2 | |
| 4 | Organic Chemicals | 412.7 | 635.5 | 54.0 | |
| 5 | Vehicles Other Than Railway Or Tramway Rolling Stock, And Parts And Accessories Thereof. | 410.9 | 535.0 | 30.2 | |
| 6 | Rubber And Articles Thereof. | 290.1 | 373.5 | 28.7 | |
| 7 | Animal Or Vegetable Fats And Oils And Their Cleavage Products; Pre. Edible Fats; Animal Or Vegetable Waxex. | 0.2 | 282.3 | 165,482.9 | |
| 8 | Copper And Articles Thereof. | 164.9 | 240.4 | 45.9 | |
| 9 | Articles Of Iron Or Steel | 155.1 | 155.9 | 0.5 | |
| 10 | Miscellaneous Chemical Products. | 118.8 | 150.0 | 26.3 | |
| 11 | Iron And Steel | 131.5 | 137.0 | 4.2 | |
| 12 | Natural Or Cultured Pearls,Precious Or Semiprecious Stones,Pre.Metals,Clad With Pre.Metal And Artcls Thereof;Imit.Jewlry;Coin. | 97.6 | 118.9 | 21.8 | |
| 13 | Aluminium And Articles Thereof. | 71.9 | 96.5 | 34.3 | |
| 14 | Optical, Photographic Cinematographic Measuring, Checking Precision, Medical Or Surgical Inst. And Apparatus Parts And Accessories Thereof; | 80.7 | 93.7 | 16.1 | |
| 15 | Paper And Paperboard; Articles Of Paper Pulp, Of Paper Or Of Paperboard. | 40.5 | 63.9 | 57.7 | |
| 16 | Residues And Waste From The Food Industries; Prepared Animal Foder. | 43.9 | 61.5 | 40.2 | |
| 17 | Tanning Or Dyeing Extracts; Tannins And Their Deri. Dyes, Pigments And Other Colouring Matter; Paints And Ver; Putty And Other Mastics; Inks. | 53.3 | 61.3 | 15.0 | |
| 18 | Mineral Fuels, Mineral Oils And Products Of Their Distillation; Bituminous Substances; Mineral Waxes. | 47.0 | 48.7 | 3.7 | |
| 19 | Raw Hides And Skins (Other Than Furskins) And Leather | 39.7 | 47.7 | 20.2 | |
| 20 | Ores, Slag And Ash. | 26.3 | 46.5 | 76.9 |
Thailand is know for precious jewellery and natural pearls. It has set up world class gem factory in various part of country. Interestingly India export natural pearls, precious stones, jewellery, coins as top commodity to Thailand.
Top 20 Commodities exported to Thailand
| S.No. | Commodity | 2016-17 | 2017-18 | %Growth |
| 1 | Natural Or Cultured Pearls,Precious Or Semiprecious Stones,Pre.Metals,Clad With Pre.Metal And Artcls Thereof;Imit.Jewlry;Coin. | 607.3 | 654.1 | 7.7 |
| 2 | Nuclear Reactors, Boilers, Machinery And Mechanical Appliances; Parts Thereof. | 259.7 | 355.2 | 36.8 |
| 3 | Vehicles Other Than Railway Or Tramway Rolling Stock, And Parts And Accessories Thereof. | 217.5 | 264.7 | 21.7 |
| 4 | Fish And Crustaceans, Molluscs And Other Aquatic Invertabrates. | 223.9 | 256.2 | 14.4 |
| 5 | Iron And Steel | 223.3 | 250.3 | 12.1 |
| 6 | Organic Chemicals | 176.5 | 244.5 | 38.5 |
| 7 | Electrical Machinery And Equipment And Parts Thereof; Sound Recorders And Reproducers, Television Image And Sound Recorders And Reproducers,And Parts. | 97.1 | 110.3 | 13.5 |
| 8 | Pharmaceutical Products | 84.2 | 108.1 | 28.5 |
| 9 | Cotton. | 87.8 | 98.9 | 12.7 |
| 10 | Articles Of Iron Or Steel | 66.1 | 97.7 | 47.9 |
| 11 | Mineral Fuels, Mineral Oils And Products Of Their Distillation; Bituminous Substances; Mineral Waxes. | 45.0 | 93.3 | 107.4 |
| 12 | Coffee, Tea, Mate And Spices. | 113.7 | 91.7 | -19.3 |
| 13 | Tanning Or Dyeing Extracts; Tannins And Their Deri. Dyes, Pigments And Other Colouring Matter; Paints And Ver; Putty And Other Mastics; Inks. | 95.7 | 83.7 | -12.6 |
| 14 | Miscellaneous Chemical Products. | 64.2 | 77.0 | 19.8 |
| 15 | Rubber And Articles Thereof. | 52.5 | 69.7 | 32.8 |
| 16 | Aluminium And Articles Thereof. | 26.4 | 67.9 | 157.6 |
| 17 | Plastic And Articles Thereof. | 60.0 | 58.4 | -2.7 |
| 18 | Residues And Waste From The Food Industries; Prepared Animal Foder. | 24.4 | 52.0 | 113.6 |
| 19 | Animal Or Vegetable Fats And Oils And Their Cleavage Products; Pre. Edible Fats; Animal Or Vegetable Waxex. | 19.9 | 48.8 | 145.5 |
| 20 | Man-Made Filaments. | 37.3 | 42.5 | 13.9 |
Source Ministry of Commerce and Industry, India