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Thailand Exports & Manufacturing

Update Date:2016-3-10 8:51:25 Source:Tannet (Malaysia) Sdn Bhd Views:648

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The economy of Thailand is heavily export-dependent with exports accounting for more than two-thirds of gross domestic product (GDP). Thailand exports over US$105 billion worth of goods and services annually. Major exports include rice, textiles and footwear, fishery products, rubber, jewelry, cars, computers, and electrical appliances. Substantial industries include electric appliances, components, computer components, and vehicles among others.

 

 Thailand's recovery from the 1997–1998 Asian financial crisis depended mainly on exports, among various other factors. As of 2012, the Thai automotive industry was the largest in Southeast Asia and the 9th largest in the world.

 

The Thailand industry has an annual output of close to 1.5 million commercial vehicles. Thailand made vehicles are developed and licensed by foreign producers, mainly Japanese and South Korean. The Thai car industry takes advantage of the ASEAN Free Trade Area (AFTA) to find a market for many of its products. Eight manufacturers, five Japanese, two US, and Tata of India, produce pick-up trucks in Thailand.

 

Thailand is the second largest consumer of pick-up trucks in the world, after the US. In 2014, pick-ups accounted for 42% of all new vehicle sales in Thailand.

 

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