As for the source of the annual data used for estimation, the bilateral trade data with
Thailand in terms of the export and import values of millions of US dollar are retrieved from “Direction of Trade Statistics” of IMF. The data on GDP and per capita GDP on US
dollar base comes from the World Bank’s “World Development Indicators”[5]. The
geographical distance between Thailand and each trading partners is measured by
the “greater circle” distance formula between Bangkok (the capital of Thailand) and the
capital city of each country[6].
3.2.2 Findings. Tables II-IV reports the results of the gravity model estimation on
Thailand’s trades: Table II on Thailand’s exports, Table III on Thailand’s imports, and
Table IV on the total of its imports and its exports. Figure 1 describes the summary on
the trade integration of Thailand with CLMV in the Mekong region, advanced ASEAN
and the other major trading partners (China, India, Japan, and the USA).