United States and Thailand
The economic agenda combines market access, businesses and services. Thailand also participates in regional diplomatic processes involving the United States. The trade framework announced in 2025 and the agreements on neighboring conflicts have different parties and effects.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07The October 2025 trade framework
In October 2025 USTR published a framework for a reciprocal trade agreement with Thailand.
Market access and business activity
Trade negotiations include conditions affecting goods and businesses.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 110,843.8 M USD | 2025 · Census |
| Goods: United States to Thailand | 19,588.5 M USD | 2025 · Census |
| Goods: Thailand to United States | 91,255.3 M USD | 2025 · Census |
| Services trade | 7,500 M USDUSTR est. | 2025 · USTR |
| Export share: United States to Thailand | 0.9 % | 2025 · Census |
| Export share: Thailand to United States | ||
| Investment stock: United States in Thailand | 14,805 M USDBEA est. | 2025 · BEA |
| Investment stock: Thailand in United States | 1,095 M USDBEA est. | 2025 · BEA |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · U.S. Census Bureau · Goods, January–December 2025, United States reporter. Not services or affiliate production.
- Goods: United States to Thailand
- 2025 · U.S. Census Bureau · Goods, January–December 2025, United States reporter. Not services or affiliate production.
- Goods: Thailand to United States
- 2025 · U.S. Census Bureau · Goods, January–December 2025, United States reporter. Not services or affiliate production.
- Services trade
- 2025 · USTR · USTR estimate of services trade; not goods. Published total, not recalculated from rounded components.
- Export share: United States to Thailand
- 2025 · U.S. Census Bureau · U.S. Census Bureau (other direction) · US goods exports to the partner / US goods exports to the world; same year and reporter.
- Investment stock: United States in Thailand
- 2025 · BEA · Direct investment position at historical cost; immediate counterparty. Not portfolio investment or announced commitments. Published negative values are retained.
- Investment stock: Thailand in United States
- 2025 · BEA · Direct investment position at historical cost; immediate counterparty. Not portfolio investment or announced commitments. Published negative values are retained.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | United States | Thailand |
|---|---|---|
| Nominal GDP | 30.77 trillion USD2025 · WB | 577.01 billion USD2025 · WB |
| GDP per capita | 90,026.52 USD2025 · WB | 8,056.56 USD2025 · WB |
| GDP growth | 2.16 %2025 · WB | 2.44 %2025 · WB |
| Policy interest rate | 3.75–4 %2026-09-16 · Fed | |
| Inflation · annual average | 2.7 %IMF est.Annual average · 2025 · IMF | -0.13 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 3.4 %Year-on-year · Aug. 2026 · BLS | |
| Unemployment | 4.2 %ILO est.2025 · WB | 0.78 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -6.8 %IMF est.2025 · IMF | -1.9 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 123.9 %IMF est.2025 · IMF | 64.7 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -3.63 %2025 · WB | 2.76 %2025 · WB |
| Population | 341,784,8572025 · WB | 71,619,8632025 · WB |
| Area | 9,831,510 km²2023 · BM / FAO | 513,115 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDUnited States: 2025 · World BankThailand: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- GDP per capita
- Current USD per personUnited States: 2025 · World BankThailand: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- GDP growth
- Annual real change (%)United States: 2025 · World BankThailand: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- Policy interest rate
- Central bank instrument (%)United States: 2026-09-16 · Federal funds target range · Federal Reserve
- Inflation · annual average
- Average annual change in headline CPI (%)United States: 2025 · Average annual change in headline CPI (%) · IMF — World Economic Outlook · IMF est. · WEO estimate; not the year-on-year change for December or August 2026. · Alternative official source; verified 2026-10-07Thailand: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series. Observation year, not download date.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedUnited States: 2026-08 · Headline CPI change relative to the same month of the previous year (%) · U.S. Bureau of Labor Statistics · Published: 2026-09-11 · Headline year-on-year CPI-U, not seasonally adjusted; not monthly or core inflation.
- Unemployment
- % of the labour force; definition used by the stated institutionUnited States: 2025 · World Bank · ILO est.Thailand: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Official World Bank series. Observation year, not download date.
- Budget balance
- General government (% of GDP)United States: 2025 · IMF — World Economic Outlook · IMF est.Thailand: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)United States: 2025 · IMF — World Economic Outlook · IMF est.Thailand: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPUnited States: 2025 · World BankThailand: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- Population
- PeopleUnited States: 2025 · World BankThailand: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- Area
- Total area in km²; territorial coverage of the sourceUnited States: 2023 · Total area including inland waters; territorial coverage of the source · World Bank · FAOThailand: 2023 · World Bank · Official World Bank series. Observation year, not download date.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
United States to Thailand
| Product or sector | Value / share |
|---|---|
| Mineral fuels and oils | 4,380.6 M USD2025 · Source |
| Electrical and electronic equipment | 2,561.2 M USD2025 · Source |
| Machinery and mechanical appliances | 2,096.6 M USD2025 · Source |
| Land vehicles and components | 751.6 M USD2025 · Source |
| Pharmaceutical products | 253.2 M USD2025 · Source |
Thailand to United States
| Product or sector | Value / share |
|---|---|
| Electrical and electronic equipment | 32,419 M USD2025 · Source |
| Machinery and mechanical appliances | 31,284.1 M USD2025 · Source |
| Land vehicles and components | 2,679.6 M USD2025 · Source |
| Mineral fuels and oils | 102.9 M USD2025 · Source |
| Pharmaceutical products | 38.9 M USD2025 · Source |
How trade has changed
Billions of current USD · full calendar years
View chart figures
| Period | Total | United States to Thailand | Thailand to United States |
|---|---|---|---|
| 2021 | 60,013.5 | 12,646.8 | 47,366.7 |
| 2022 | 74,406.7 | 15,782.5 | 58,624.2 |
| 2023 | 71,733 | 15,526.5 | 56,206.5 |
| 2024 | 80,861.8 | 17,906.5 | 62,955.3 |
| 2025 | 110,843.8 | 19,588.5 | 91,255.3 |
Connections between people
Travel, studies and professional activity complement economic contacts; they are not inferred from a government's role in peace negotiations. [2]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from United States living in Thailand | ||
| Residents from Thailand living in United States | ||
| Study and training: United States in Thailand | ||
| Study and training: Thailand in United StatesStudy and OPT training in the United States | 5,022 | 2024/25 · IIE / Open Doors |
| Academic stays: United States in ThailandU.S. study-abroad stays carrying academic credit | 1920 | 2023/24 · IIE / Open Doors |
| Academic stays: Thailand in United States | ||
| Travel: United States to Thailand | ||
| Travel: Thailand to United StatesCountry of residence; international arrivals in the United States | 77,927arrivals | 2025 · NTTO |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
- Study and training: Thailand in United States
- Open Doors: students by place of origin, including OPT practical training. Not visas or residents. 2024/25 · IIE / Open Doors
- Academic stays: United States in Thailand
- Mobility for academic credit reported by US institutions. Not the total number of residents or enrolment on a particular date. 2023/24 · IIE / Open Doors
- Travel: Thailand to United States
- Arrivals by country of residence; not nationality, unique travellers or permanent residence. NTTO series coverage. 2025 · NTTO
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
The October 2025 trade framework
In October 2025 USTR published a framework for a reciprocal trade agreement with Thailand. A framework defines commitments and the negotiating agenda, while the final instrument and its application require their own documents. It is important to identify which products and rules each measure covers. A universal or permanent tariff rate is not inferred simply from a joint declaration's existence. [1]
Market access and business activity
Trade negotiations include conditions affecting goods and businesses. Bilateral statistics allow observation of what was exported and imported in 2025 with the same US reporter. Services and investment stock provide another activity measure. An announcement opening a market is not equivalent to the sales volume businesses ultimately record. [1]
Diplomacy on Thailand and Cambodia
The US communication of October 2025 presents the Kuala Lumpur agreements related to the Thailand-Cambodia conflict and US participation in that process. That description is attributed to the White House. The agreement and its follow-up have their own regional parties and territorial issues; they are not the same instrument as the United States–Thailand trade framework. [2]
The scale of the two economies
The United States recorded nominal GDP of USD 30,769.7 billion in 2025, compared with 577 in 2025 for Thailand. The reference populations were 341.78 million (2025) and 71.62 million (2025), respectively. In the same year, the United States' nominal GDP was 53.33 times Thailand's. The figures contextualize market size; they do not in themselves describe well-being, individual wealth or political influence. IMF estimates or demographic extrapolations retain their markings in the table. A ratio is not calculated when the periods do not match. [7] [8] [9] [10]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
Kuala Lumpur and two parallel agendas
October's communications bring together trade and regional diplomacy actions. Their temporal coincidence does not show they are one legal obligation or that the announcement guarantees continued ceasefire compliance. The profile keeps the trade document, peace process and annual economic data separate so readers can understand what happened in each area. [2] [1]
Observed economic exchange
In 2025, recorded goods trade between the United States and Thailand totaled 110,843.8 million USD. US shipments to Thailand were USD 19,588.5 million; shipments in the opposite direction were USD 91,255.3 million. US shipments to the partner represented 0.9% of its goods exports to the world, using the same year and reporter. A single customs declaration is used for both directions. This annual flow does not include all services activity or subsidiaries' local sales and is not added to accumulated investment capital. [3]
Cross-border services
USTR estimates 7500 million USD in services trade in 2025. It is the total published by the source, not a reconstruction from rounded components. Financial and professional services and activities involving travel have coverage different from goods. Its value does not represent a traveler count or all local business by companies established in the partner country. [4]
Recorded direct investment capital, not announced investment
The US direct investment position in Thailand was 14,805 million USD in 2025. Thailand's direct investment position in the United States was USD 1095 million in 2025. BEA uses historical cost and the immediate counterpart. The figure is capital recorded at period-end, not a purchase or promise made during the year. It may reflect subsidiary structures and financing; published negative values are not replaced with zero. It does not include all portfolio investment or allow each project to be valued individually. [5] [6]
Human connections with their own figures
In 2025, the source recorded 77,927 arrivals from Thailand to the United States, with the coverage indicated in the table. [11]
In 2024/25, the source recorded 5022 students and OPT internship participants from Thailand in the United States. [12]
In 2023/24, 1920 stays carrying academic credit from the United States to Thailand were recorded. [12]
The counts describe different populations and periods: they are not added as a total of unique people. Open Doors includes OPT practical training; US study stays require academic credit. Arrivals by country of residence do not equate to nationality or permanent residence. The academic year retains its coverage and is not relabelled as a calendar year. [11] [12]
Milestones and consequences
Sources and data
Periods and scope of the figures
Each figure retains its period, unit, definition and source. Announcements, contracts and results are not interchangeable. Empty cells do not mean zero. Customs data for 2025 are not presented as activity observed during later crises.
- Trade agreement framework with Thailand
USTR · Institutional source · Document: 2025-10 · Accessed: 2026-10-07
- Kuala Lumpur agreements and declarations
White House · Institutional source · Document: 2025-10-26 · Accessed: 2026-10-07
- TOTAL rows 2021–2025; US reporter; goods; million USD
U.S. Census Bureau · Institutional source · Accessed: 2026-10-07
- Services exports plus imports, estimate, full calendar year 2025
USTR · Institutional source · Accessed: 2026-10-07
- Position; country row; G=2025; million USD; historical cost; immediate counterparty
BEA · Institutional source · Accessed: 2026-10-07
- Position; country row; G=2025; million USD; historical cost; immediate counterparty
BEA · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-09-17
- NY.GDP.MKTP.CD; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- SP.POP.TOTL; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-07
- Annual; country-of-residence row; AC=2025; arrivals, not unique people
NTTO · Institutional source · Accessed: 2026-10-07
- International Student Totals: 2024/25 incl OPT; US study abroad 2023/24. Not visa issuance.
IIE / Open Doors · Institutional source · Accessed: 2026-10-07
- HS2 27; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
- HS2 30; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
- HS2 84; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
- HS2 85; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
- HS2 87; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 27; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 85; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 84; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 87; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 30; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.