Opening an Import and Export Company in Thailand

Submitted by tilaadmin on Tue, 01/11/2022 - 09:55
Thailand is the hub of tech and transportation businesses in Asia. This country shares impressive transportation links with other nations via sea, rail, road, and air. If you are interested in setting up a business in Thailand, going ahead with the import and export business is definitely a great idea. However, the success of this business truly depends upon your preferences, connections, and personal experiences.

Whether it is your first time making a foreign investment or you are experienced with these skills, it is important to move ahead with an adequate strategy. Many successful export and import organizations in Thailand collect products from neighboring nations, especially the goods that are not easily available in Thailand, such as drinks and food. There are plenty of ex-pats that are currently living in various parts of Thailand. The exported products are widely purchased by these ex-pats. Even many local people are also willing to pay a considerable amount for buying products that are otherwise unavailable in their own country. Successful importers in Thailand are able to sell high-quality products to the most relevant audience, and that too at high-profit margins. Moreover, it helps them establish solid connections with other retailers and supermarket chains so that the imported product collections can be easily made available to the general public.

If we look at the stats of the year 2019, Thailand imported total goods worth $239.9 billion, which was 18.8% higher than the investment of the year 2015 but 4.4% less than the year 2018. The products imported in the year 2019 represent almost 1.2% of the global imports in the same year. Also, 74.9% of the total imports made by Thailand in 2019 were equivalent to the total purchase made by other Asian countries.

If you are interested in finding some impressive product ideas for your import and export business in Thailand, the details below can help you better. Here we have also listed the percentage share of product categories imported into Thailand:

• Electrical equipment and machinery have an estimated share of $43.4 billion.
• Organic chemicals with the estimated share of $4.3 billion.
• Optical, medical and technical apparatus with the estimated share of $6.4 billion.
• Articles of steel or iron with the estimated share of $6.9 billion.
• Plastic products with the estimated share of $9.2 billion.
• Vehicles with the share of $10.7 billion.
• Steel and iron with an estimated share of $12 billion.
• Precious metals and gems with the estimated share of $12.3 billion.
• Machineries including computers with the estimated share of $29.8 billion.
• Mineral fuels such as oil with the estimated share of $37.6 billion.
It is also possible to find opportunities to export various Thai products to other countries, and it can definitely help you make great profits in the long run. Some of the best Thai products available for exportation include Rice, Maize, Sugar, Rubber, and handicrafts. You can now plan your company registration in Thailand while selecting any of these products for import and export.

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