LOOKING TO AVOID US-CHINA TARIFFS?
In today’s ever-evolving global marketplace, navigating the intricate web of trade tariffs and international relations can be a daunting task. Are you looking to steer clear of the tumultuous US-China tariffs? Look no further than Haskee, LLC – your trusted partner in overcoming these challenges.
Our extensive global network and unrivaled expertise in Asia, Europe, and the Americas allow us to offer you viable alternatives and comprehensive supply chain management solutions. Whether you’re seeking the perfect manufacturer, planning a seamless production transition, or in need of scalable, end-to-end supply chain solutions, we’ve got you covered.
At Haskee, LLC, we take pride in our ability to connect businesses with opportunities worldwide. With us by your side, you can confidently explore options beyond the shadow of US-China tariffs. Let us empower your global ambitions, providing the guidance and support you need to thrive in today’s complex trade landscape. Discover the possibilities with Haskee, LLC, and embark on a journey towards tariff-free success.
COUNTRY OVERVIEW
Thailand, often celebrated for its stunning landscapes and vibrant culture, has quietly established itself as a formidable economic force in the heart of Southeast Asia. The Thai Kingdom, nestled on the Indochinese Peninsula, is not just a global travel hotspot; it’s a thriving foreign-trade-friendly economy, poised for greatness.
In 2018, Thailand’s GDP surged by an impressive 4.1%, a testament to its resilience and economic prowess. A significant driver of this development is the nation’s prowess in exports, totaling a staggering $249.8 billion last year. China, with $30.2 billion in trade, tops the list of Thailand’s key external markets, followed closely by the United States ($28.1 billion), Japan ($24.9 billion), Vietnam ($13 billion), and Hong Kong ($12.5 billion). This robust export-driven approach played a pivotal role in Thailand’s swift recovery following the financial crises that rattled Asia in 1997 and 1998.
Thailand’s exports per capita, with a population of approximately 69.4 million people, stand head and shoulders above its regional peers. The country’s per capita export value of about $3,600 outshines China ($1,746), Vietnam ($2,544), and India ($250), underscoring its economic prowess on the global stage.
The automotive industry is a prime example of Thailand’s competitive edge, evident in its positive trade balance in cars and trucks. The country also maintains surpluses in parts and motorcycles, albeit not as substantial as those in the automotive sector.
Thailand’s status as an export-oriented nation hinges on its strong trade alliances with other countries. In its bilateral trade relationship with the USA, Thailand excels in products ranging from rubber, machinery, and prepared foods to seafood, agricultural products, and jewelry. It also boasts a burgeoning trade in computers, telephones, oil products, and textiles. Thailand’s significance as the 20th largest export destination for the US underscores the growing importance of this partnership. In addition to its agreements with the US, Thailand is an active member of the World Trade Organization (WTO) and the Cairns Group of agricultural exporters.
Thailand’s journey from a world-renowned travel destination to an economic powerhouse is a testament to its vision, resilience, and unwavering commitment to progress. The Thai Kingdom invites the world to explore its dynamic economic landscape, offering a promising future of growth and prosperity for those who dare to engage in its vibrant trade and investment opportunities.
TOP 10 EXPORTS
1. Machinery including computers: $42.9 billion (17.2%)
2. Electrical machinery, equipment: $35 billion (14%)
3. Vehicles: $30.4 billion (12.2%)
4. Rubber, rubber articles: $15.5 billion (6.2%)
5. Plastics, plastic articles: $14.5 billion (5.8%)
6. Gems, precious metals: $11.9 billion (4.8%)
7. Mineral fuels including oil: $10.6 billion (4.2%)
8. Processed meat/seafood: $6.6 billion (2.6%)
9. Organic chemicals: $6.1 billion (2.5%)
10. Cereals: $5.7 billion (2.3%)
*data from www.tradereport.moc.go.th (Information Technology and Communication Center Ministry of Commerce)
ADVANTAGES OF BUYING FROM THAILAND
Thailand is on the cusp of an exciting economic resurgence, with experts predicting a growth rate of 3.3% to 3.8% for 2019. Several key drivers are propelling this positive outlook, and the stage is set for Thailand to shine.
One crucial catalyst for this improvement is the government’s commitment to bolstering economic vitality through increased expenditures and substantial investments in core infrastructure projects. The infusion of resources into these critical areas is poised to usher in a new era of growth and prosperity.
Furthermore, the recently concluded March 2019 elections saw more business and investment-friendly constituents rise to key positions of power. This shift in leadership signals a renewed focus on creating a favorable environment for businesses, both domestic and international, to thrive and prosper.
At the heart of Thailand’s vision for the future lies the Eastern Economic Corridor (EEC) Act—an ambitious initiative aimed at transforming the nation’s infrastructure landscape. This act is poised to catalyze the development of integrated infrastructure and utilities, seamlessly connecting air, land, and sea. High-speed railways, expanded ports, and modernized airports are just a few elements of the EEC’s grand vision. With 30 existing and new industrial zones and an additional $55 billion earmarked for investment in provinces like Chachoengsao, Chon Buri, and Rayong, the EEC is set to become a thriving hub for industries ranging from electric cars and hi-tech electronics to agriculture, biotechnology, and digital technologies.
Thailand, while not a low-cost production base, remains an attractive sourcing and manufacturing option for many companies. Its unwavering commitment to a reliable business environment, well-developed logistics infrastructure, and abundant natural resources make it an appealing choice. The Thai government is actively working to enhance the country’s trading position through investments in technical equipment, the creation of Special Economic Zones, and the promotion of cluster structures—strategies that position Thailand as a serious global player. With its strategic connectivity to other ASEAN countries like Cambodia, Laos, Myanmar, and Vietnam, Thailand emerges as a compelling alternative to China for certain product categories.
As Thailand continues its journey towards economic revitalization, it beckons investors and businesses to join in its growth story. With a renewed focus on innovation, infrastructure development, and an unwavering commitment to a business-friendly environment, Thailand stands as a beacon of opportunity in Southeast Asia, inviting the world to be part of its exciting future.