About
Thailand
Country Facts
Capital : Bangkok
Population : 69.63 Million
Language : Thai , English , ethnic and regional dialects
Industries : Food processing , cement , integrated circuits , automotive parts and assembly , petroleum products , textiles , footwear , toys , furniture , synthetic fibre , and tourism
GDP ( US $ billion ): 501.8
Natural Resources : Tin , rubber , natural gas , tungsten , tantalum , timber , lead , fish , gypsum , lignite , fluorite , arable land
Major Exports : Electronics , computer parts , automobiles and parts , electrical appliances , machinery and equipment , textiles and footwear , fishery products , rice , rubber
Major Imports : Capital goods , intermediate goods and raw materials , consumer goods , fuels
Contact the British Chamber of Thailand :
Thailand is located in South East Asia between Cambodia , Laos , Myanmar ( Burma ) and Malaysia . Thailand is the UK ’ s 37th largest trading partner , as well as its 48th largest export partner ( ONS , 2019 ).
An established export market
There are already 5,200 British VAT registered businesses exporting to Thailand ( HMRC , 2017 ), with openings for SMEs as well as large corporations . In the year to June 2019 , the total value of UK exports to Thailand amounted to £ 2 billion ( ONS , 2019 ). Opportunities for UK businesses are available particularly in the technology , e-commerce , agri-business and infrastructure sectors .
An expanding economy
The Thai economy is predicted to grow by 3.5 % in 2019 , following 4.1 % GDP growth in 2018 ( IMF , 2019 ). This combined with consistently low inflation and unemployment figures ( IMF , 2019 ), should lead to the increased spending power of the country ’ s population which could favour UK exporters . Import levels have risen significantly at the same time , with increases of 6.2 % and 8.6 % recorded for 2017 and 2018 respectively ( IMF , 2019 ).
Access to new markets
Thailand ’ s geographical setting makes the country a hub for UK businesses looking to access opportunities in the Greater Mekong sub-region . It ’ s a good strategic location for exporting to Laos , Cambodia , Myanmar ( Burma ) and southern China .