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USDA’s Office of Agricultural Affairs (OAA) in Bangkok hereinafter referred to as “Post” reports that Thailand had a GDP of US$543.6 billion in 2019. Thailand remains a strong agricultural competitor as it is the world’s leading exporter of natural rubber, frozen shrimp, canned tuna, canned pineapples, cooked poultry, and cassava. It is also a major exporter of sugar and rice. Thailand is currently the 13th largest export market for U.S. agricultural products while the U.S. is the largest supplier of agricultural products to Thailand, with 16% of total import market share.
U.S. Food & Agricultural Product Imports to Thailand, By the Numbers:
- U.S. Consumer Ready Food Products – US$405.4 million (2019)
- U.S. Processed Foods – US$427.3 million (2019)
According to Euromonitor, by the year 2024, the retail sales in the packaged food market in Thailand is expected to reach US$17.4 billion, a growth rate of 20.5% or US$2.9 billion.