Thailand

“Trade Policy Reviews” analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat, a report by the government, and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - “key trade facts” - provides a visual overview of the WTO member’s major exports/imports, main export destinations, origins for its imports and other key data. This edition looks into the trade practices of Thailand.

The ninth review of the trade policies and practices of Thailand takes place on 1 and 3 December 2025. The basis for the review is a report by the WTO Secretariat and a report by the Government of Thailand.

Since its previous trade policy review in 2007, the Thai economy has thriven through challenged and crisis and expanded moderately at the annualized rate at 4.5%. Overall, Thailand’s macroeconomic fundamentals have been strong. Despite some risks of political instability and external uncertainties, the economy has performed well as a result of significant growth in investment as well as strong domestic and external demands, in particular from private consumption which continues to grow following higher income and low unemployment rate.

The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT CONTRACTING PARTIES in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.

The politicization of trade policy-making in Thailand is arguably more pronounced than elsewhere in the world, including at the global level where multilateral trade negotiations (MTNs) under the World Trade Organization (WTO) are currently stalled. Indeed, the Thai case of trade policy quagmire is quite dramatic for having adversely impinged on the country’s body politic to the extent that a popularly elected government was ousted in a military coup, and an anti-free trade agreement (FTA) bias worked its way into a new military-organized constitution, contributing to a prolonged and protracted political crisis. That Thai trade policy has become increasingly politicized over the first decade of the twenty-first century is attributable to a number of dynamics, some in parallel to trade policy experiences in the rest of the world, others more specific to domestic circumstances.

For over 30 years Thailand has pursued a policy of export-led development that has successfully turned the county into a major exporter of industrial goods and led to rapid economic growth, particularly in the 1990s. Growth slowed in the 2000s - due partly to lower investment growth and infrastructure bottlenecks - but still remained strong at an average of 5.7% between 2003 and 2006. Although the 2008 global financial crises led to a fall in GDP in 2009, growth picked up again in 2010 when it reached 7.8%. Between 2007 and 2010 GDP per capita rose from US$3,740 to US$4,737, and Thailand has been able to reduce poverty and meet its Millennium Development Goals, although significant income and regional disparities remain.