Despite rising tension between Israel and Iran, the impact remains within a limited area as of now. Although both sides are engaging each other, the international transportation and trade routes remain open.
The Trade Policy and Strategy Office (TPSO) of Thailand’s Ministry of Commerce informed that the conflict should not affect Thai’s export significantly as due to a minimal trading value between Thailand, Israel, and Iran.
In 2024, Israel was Thailand’s 39th largest trading partner with a trade value of USD 1.28 billion, or 0.21% of Thailand’s total trade value. As for Iran, the nation was Thailand’s 86th largest trading partner with a trade value of USD 207.4 million, or 0.03% of Thailand’s total trade value.
A source from TPSO informed that the Middle East is a major oil producer and transportation hub for the world. If the conflict escalates, the major shipping route could close and the oil price may rise. These would affect Thailand’s transportation and product costs. Therefore, the office is monitoring the situation closely.
Meanwhile, Thailand’s embassy at Tel Aviv remains closed for the third day, following Israel’s security policies. The office asked Thai people in the area to strictly follow security guidelines of Israel’s official and local authorities.
