Thailand is a pivotal market for Swiss and Liechtenstein exporters, offering a strategic entry point into the ASEAN region with its robust manufacturing base and growing service sector. The country's diverse economic landscape and increasing foreign direct investment present numerous opportunities for expansion and collaboration.
Thailand’s economy is anchored by a diversified industrial base, with manufacturing contributing roughly a quarter of GDP and the broader industrial sector accounting for about one-third. The country remains a major regional hub for automotive production and a significant global player in electronics, including hard-disk-drive components. The services sector dominates the economy at close to 60% of GDP, supported by a strong tourism rebound in 2024. Key export products such as automobiles, electronics, and agromanufacturing goods reflect sustained demand across global value chains.
Although GDP grew by 2.5% in 2024, growth expectations for 2025 have softened, with some forecasts revised downward to around 1.8%. Fiscal pressures also persist, highlighted by a projected budget deficit. For Swiss exporters, these trends underline the need for strategic market entry and adaptability, while Thailand’s deep integration into global supply chains continues to offer solid opportunities in high-value manufacturing and supporting industries.
No
Free Trade Agreement
There is a free trade agreement between Switzerland and this country. Source: State Secretariat for Economic Affairs SECO
6.79 6.79 billion
Total trade flows
Total goods traded with Switzerland (imports + exports). Source: UN Comtrade. Data as of 2023.
6.05 6.05 %
3-year GDP growth
Total real GDP growth over the last three years. Source: World Bank. Data as of 2023.
In Thailand, the manufacturing sector’s vast scale can pose challenges, but the automotive industry, the largest in ASEAN, remains a key area of opportunity worth understanding deeply.
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Event calendar
Stay connected with the latest developments in the industry by participating in our upcoming events. From conferences and workshops to webinars and fact-finding missions.
06
Oct
Winning the Talent Race: Attracting and Retaining Talent in China, Japan and Southeast Asia
Practical perspectives, regional insights and case-based strategies for Swiss companies competing for talent in Asia.
Zürich , Switzerland
24
Nov
Thailand's Culinary Hub: Unlocking F&B Opportunities for Swiss companies
Thailand is one of Southeast Asia’s most dynamic food and beverage markets, offering opportunities for Swiss companies in premium food, wine, gourmet products, Vitafoods, food technology and related solutions. This 60-minute online webinar will provide a practical introduction to the market and explain how the Thailand–Switzerland Free Trade Agreement can support market entry. Hear from market and industry practitioners about routes to market, buyer expectations and how to position Swiss products for Thai consumers.
Webinar
23
Jan
Swiss Education Fair Thailand 2027
Join the Swiss Education Fair and showcase your institution to a highly relevant audience in Thailand. This concept event is designed to connect leading Swiss schools and universities with prospective students, parents, graduates, and professionals seeking world-class education opportunities in Switzerland.
Bangkok, Thailand
27
Apr
International Trade Forum 2027
Be inspired by leading personalities, discover new markets, and make valuable contacts through targeted matchmaking.
Bern, Switzerland
09-12
Jun
ProPak Asia 2027
ProPak Asia is the most important international trade fair in the Southeast Asia region for the processing and packaging of food, beverages and pharmaceutical products.
Bangkok, Thailand
FAQs
What is the current economic situation?
Thailand’s current economic situation presents a mixed outlook. GDP expanded by 2.5% in 2024, but the IMF has revised its 2025 growth forecast downward to around 1.8%, signalling softer momentum ahead. Inflation is expected to remain low at 0.0% to 1.0% in 2025, and the policy interest rate has been reduced to 1.75% to support economic activity. At the same time, a sharp decline in car production and a 16% drop in Thai equities point to emerging headwinds. Swiss exporters should closely monitor these developments, particularly exchange-rate movements and interest-rate adjustments, as they may influence pricing, demand, and overall trade dynamics.
What are the main export and import trends?
In 2024, Swiss exports to Thailand declined by 2.4% to CHF 953 million, while imports edged up by 0.6% to CHF 1.3 billion, underscoring a challenging environment for Swiss exporters. Over the same period, Thailand’s trade activity strengthened, with exports rising to USD 300.5 billion (+5.4%) and imports reaching USD 306.8 billion (+6.3%), although the country continued to run a trade deficit. The new FTA between Switzerland and Thailand, in force since January 2025, offers Swiss companies an opportunity to improve market access, enhance competitiveness, and potentially counterbalance recent export declines.
What opportunities exist for Swiss companies?
Swiss companies can build a strong position in Thailand by supporting the country’s accelerating digital transformation. Demand for high-quality foreign expertise is rising, particularly as Thailand upgrades its digital infrastructure and strengthens its financial innovation ecosystem. Companies with capabilities in secure cloud architecture, digital identity, cybersecurity, and advanced financial technologies can form strategic partnerships with Thai corporates, regulators, and financial institutions. Opportunities also exist in providing niche advisory services, compliance solutions, and technical integration support for large-scale digital projects.
Which sectors are most promising?
The most promising sectors for Swiss exporters are Thailand’s digital infrastructure industries - namely data centres, cloud services, and edge computing - where pledged investment reached the highest level among all sectors in 2024. In the financial domain, fintech and blockchain remain standout growth areas due to strong policy interest, rising private-sector adoption, and Thailand’s ambition to modernise payments, digital assets, and financial services. These sectors offer scalable demand, clear investment momentum, and alignment with Switzerland’s technological strengths.
What are the main challenges and risks?
Swiss exporters face several challenges in Thailand, including non-tariff trade barriers and potential competitive disadvantages until the EFTA–Thailand FTA is fully implemented. Market conditions are also influenced by economic headwinds, such as Thailand’s high household debt levels, which have contributed to a sharp decline in domestic car sales and shifts in consumer demand. These factors underline the need for careful market assessment and adaptive strategies.
