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Economy - overview: With a well-developed infrastructure, a
free-enterprise economy, and pro-investment policies, Thailand appears to have
fully recovered from the 1997-98 Asian Financial Crisis. The country was one of
East Asia's best performers from 2002-04. Boosted by increased consumption and
strong export growth, the Thai economy grew 6.9% in 2003 and 6.1% in 2004
despite a sluggish global economy. Bangkok has pursued preferential trade
agreements with a variety of partners in an effort to boost exports and to
maintain high growth. In late December 2004, a major tsunami took 8,500 lives in
Thailand and caused massive destruction of property in the southern provinces of
Krabi, Phangnga, and Phuket. In 2006, investment stagnated as investors, spooked
by the THAKSIN administration's political problems, stayed on the sidelines. The
military coup in September brought in a new economic team led by the former
central bank governor. In December, the Thai Board of Investment reported the
value of investment applications from January to November had declined by 27%
year-on-year. On the positive side, exports have performed at record levels,
rising nearly 17% in 2006 and 12% in 2007. Export-oriented manufacturing - in
particular automobile production - and farm output are driving these gains.
GDP (PPP): $519.9 billion (2007 est.)
GDP (official exchange rate): $211.1 billion (2007 est.)
GDP - real growth rate: 4.3% (2007 est.)
GDP - per capita (PPP): $8,000 (2007 est.) GDP - composition by sector:
agriculture: 10.8%
industry: 45.3%
services: 43.8% (2007 est.)
Labor force: 37.12 million (2007 est.)
Labor force - by occupation:
agriculture: 49%
industry: 14%
services: 37% (2000 est.)
Unemployment rate: 1.7% (2007 est.)
Population below poverty line: 10% (2004 est.)
Household income or consumption by percentage share:
lowest 10%: 2.7%
highest 10%: 33.4% (2002)
Distribution of family income - Gini index: 42 (2002)
Inflation rate (consumer prices): 2% (2007 est.)
Investment (gross fixed): 27.4% of GDP (2007 est.) Budget:
revenues: $43.61 billion
expenditures: $48.18 billion (2007 est.) Public Debt:
37.6% of GDP (2007 est.) 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: 4.6% (2007 est.)
Electricity - production: 124.6 billion kWh (2005)
Electricity - consumption: 117.7 billion kWh (2005)
Electricity - exports: 642 million kWh (2005)
Electricity - imports: 4.419 billion kWh (2005)
Oil - production: 310,900 bbl/day (2005 est.)
Oil - consumption: 929,000 bbl/day (2005 est.)
Oil - exports: 225,700 bbl/day (2004)
Oil - imports: 893,400 bbl/day (2004)
Oil - proved reserves: 291 million bbl (1 January 2006 est.)
Natural gas - production: 22.73 billion cu m (2005 est.)
Natural gas - consumption: 31.23 billion cu m (2005 est.)
Natural gas - exports: 0 cu m (2005 est.)
Natural gas - imports: 8.497 billion cu m (2005)
Natural gas - proved reserves: 400.7 billion cu m (1 January 2006
est.)
Current Account Balance: $8.619 billion (2007 est.)
Exports: $143.1 billion f.o.b. (2007 est.)
Exports - commodities: textiles and footwear, fishery products,
rice, rubber, jewelry, automobiles, computers and electrical appliances
Exports - partners: US 15%, Japan 12.7%, China 9%, Singapore
6.4%, Hong Kong 5.5%, Malaysia 5.1% (2006)
Imports: $121.9 billion f.o.b. (2007 est.)
Imports - commodities: capital goods, intermediate goods and raw
materials, consumer goods, fuels
Imports - partners: Japan 20.1%, China 10.6%, US 6.7%, Malaysia
6.6%, UAE 5.6%, Singapore 4.5% (2006)
Reserves of foreign exchange & gold: $75 billion (31 December
2007 est.)
Debt - external: $58.6 billion (30 June 2007)
Economic aid - recipient: $171.1 million (2005)
Currency: baht (THB)
Exchange rates: baht per US dollar - 34.499 (2007), 37.882 (2006),
40.22 (2005), 40.222 (2004), 41.485 (2003)
Fiscal year: 1 October - 30 September
This information comes from the CIA
World Factbook January 2008.
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