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Buyer Community> Trade Intelligence> Country Profiles-Thailand> Thailand-Economy

Thailand-Economy

Published: 13 Mar 2010 13:58:59 PST

Economy - overview:   
With a well-developed infrastructure, a free-enterprise economy, generally pro-investment policies, and strong export industries, Thailand enjoyed solid growth from 2000 to 2007 - averaging more than 4% per year - as it recovered from the Asian financial crisis of 1997-98. Thai exports - mostly machinery and electronic components, agricultural commodities, and jewelry - continue to drive the economy, accounting for more than half of GDP. The global financial crisis of 2008-09 severely cut Thailand's exports, with most sectors experiencing double-digit drops. In 2009, the economy contracted 2.4%.In 2010, Thailand’s ceremony expanded 7.8%, its fastest pace since 1995, as exports rebounded from their depressed 2009 level. Steady economic growth at just below 4% for most of 2011 was interrupted by historic flooding in October and November in the industry areas north of Bangkok, crippling the manufacturing sector and leading to a revised growth rate of 1.5% for the year. The industry sector is poised to recover however, and the economy will probably grow between 4 and 5%. 
 
GDP (purchasing power parity):   
$609.8 billion (2011 est.)
country comparison to the world: 25
$600.8 billion (2010 est.)
$557.4 billion (2008 est.)
note: data are in 2011 US dollars
 
GDP (official exchange rate):   
$339.4 billion (2011 est.)
 
GDP - real growth rate:   
1.5% (2011 est.)
country comparison to the world: 172
7.8% (2010 est.)
-2.4% (2009 est.)
 
GDP - per capita (PPP):   
$9,700 (2011 est.)
country comparison to the world: 111
$9,400 (2010 est.)
$8,800 (2009 est.)
note: data are in 2011 US dollars
 
GDP - composition by sector:   
agriculture: 12.2%
industry: 45.3%
services: 42.5% (2011 est.)
 
Labor force:   
39.28 million (2011 est.)
country comparison to the world: 16  
 
Labor force - by occupation:   
agriculture: 42.4%
industry: 19.7%
services: 37.9% (2008 est.)
 
Unemployment rate:   
1% (2011 est.)
country comparison to the world: 6
1% (2010 est.)
 
Population below poverty line:   
9.6% (2006 est.)
 
Household income or consumption by percentage share:   
lowest 10%: 1.6%
highest 10%: 42.6% (2009)
 
Distribution of family income - Gini index:   
53.6 (2009)
country comparison to the world: 14
42 (2002)
 
Investment (gross fixed):   
26.9% of GDP (2011 est.)
country comparison to the world: 51 
 
Budget:   
revenues: $65.21 billion
expenditures: $74.99 billion (2011 est.)
 
Public debt:   
45.6% of GDP (2011 est.)
country comparison to the world: 61
43.1% of GDP (2010 est.) 

Note: data cover general Government Debt, and included debt instruments issued (or owned) by Government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment, Dept instruments for the social funds are sold at public auctions.
 
Inflation rate (consumer prices):   
4.1% (2011)
country comparison to the world: 99
3.3% (2010 est.)
 
Central bank discount rate:   
7.58% (31 December 2010)
country comparison to the world: 122
1.75% (31 December 2009)
 
Commercial bank prime lending rate:   
6.9% (31 December 2011)
country comparison to the world: 147
5.935% (31 December 2010)
 
Stock of narrow money:   
$47  billion (31 December 2011 est.)
country comparison to the world: 48
$43.2  billion (31 December 2010 est.)
 
Stock of broad money:   
$448.7 billion (31 December 2011 est.)
country comparison to the world: 22
$390.6 billion (31 December 2010 est.)
 
Stock of domestic credit:   
$418.2 billion (31 December 2011 est.)
country comparison to the world: 29
$365.5 billion (31 December 2010 est.)
 
Market value of publicly traded shares:   
$277.7 billion (31 December 2010)
country comparison to the world: 33
$138.2 billion (31 December 2009)
$102.6 billion (31 December 2008)
 
Agriculture - products:   
rice, cassava (tapioca), rubber, corn, sugarcane, coconuts, soybeans
 
Industries:   
tourism, textiles and garments, agricultural processing, beverages, tobacco, cement, light manufacturing such as jewelry and electric appliances, computers and parts, integrated circuits, furniture, plastics, automobiles and automotive parts; world's second-largest tungsten producer and third-largest tin producer
 
Industrial production growth rate:   
5.2% (2011 est.)
country comparison to the world: 64
 
Electricity - production:   
139 billion kWh (2008 est.)
country comparison to the world: 25 
 
Electricity - consumption:   
131.6 billion kWh (2008 est.)
country comparison to the world: 25 
 
Electricity - exports:   
1,979 million kWh (2009 est.)
 
Electricity - imports:   
2.313 billion kWh (2009 est.) 
 
Oil - production:   
406,800 million bbl/day (2010 est.)
country comparison to the world: 33 
 
Oil - consumption:   
988,000 bbl/day (2010 est.)
country comparison to the world: 22 
 
Oil - exports:   
269,100 bbl/day (2009 est.)
country comparison to the world: 44 
 
Oil - imports:   
1.695 million bbl/day (2009 est.)
country comparison to the world: 13 
 
Oil - proved reserves:   
441 million bbl (1 January 2009 est.)
country comparison to the world: 49 
 
Natural gas - production:   
30.88 billion cu m (2009 est.)
country comparison to the world: 26 
 
Natural gas - consumption:   
39.17 billion cu m (2009 est.)
country comparison to the world: 24 
 
Natural gas - exports:   
0 cu m (2009 est.)
country comparison to the world: 186 
 
Natural gas - imports:   
8.29 billion cu m (2009 est.)
country comparison to the world: 28 
 
Natural gas - proved reserves:   
312.2 billion cu m (1 January 2011 est.)
country comparison to the world: 38 
 
Current account balance:   
$12.68 billion (2011 est.)
country comparison to the world: 23
$14.7 million (2010 est.)
 
Exports:   
$244.4 billion (2011 est.)
country comparison to the world: 25
$193.5 billion (2010 est.)
 
Exports - commodities:   
textiles and footwear, fishery products, rice, rubber, jewelry, automobiles, computers and electrical appliances
 
Exports - partners:
China 11%, Japan 10.5%, US 10.4%, Hong Kong 6.7%, Australia 5.6%, Malaysia 5.4%, Australia 4.8%, Singapore 4.6% (2010)
 
Imports:   
$214.6 billion (2011 est.)
country comparison to the world: 24
$161.3 billion (2010 est.)
 
Imports - commodities:   
capital goods, intermediate goods and raw materials, consumer goods, fuels
 
Imports - partners:   
Japan 20.8%, China 13.3%, Malaysia 5.9%, US 5.9%, UAE 4.7%, South Korea 4.4% (2010 est.)
 
Reserves of foreign exchange and gold:   
$202.2 billion (31 December 2011 est.)
country comparison to the world: 13
$172.1 billion (31 December 2010 est.)
 
Debt - external:   
$84.16 billion (31 December 2011 est.)
country comparison to the world: 47
$74.05 billion (31 December 2010)
 
Stock of direct foreign investment - at home:   
$119.5 billion (31 December 2011 est.)
country comparison to the world: 36
$115.9 billion (31 December 2010)
 
Stock of direct foreign investment - abroad:   
$29.79 billion (31 December 2011 est.)
country comparison to the world: 39
$23.45 billion (31 December 2010 est.)

 
Exchange rates:   
baht per US dollar - 30.18 (2011 est.), 31.686 (2010 est.), 34.286 (2009), 33.37 (2008), 34.52 (2007)

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