Economy - overview:
With a well-developed infrastructure, a free-enterprise economy, generally pro-investment policies, and strong export industries, Thailand achieved steady growth due largely to industrial and agriculture exports - mostly electronics, agricultural commodities, automobiles and parts, and processed foods. Unemployment, at less than 1% of the labor force, stands as one of the lowest levels in the world, which puts upward pressure on wages in some industries. Thailand also attracts nearly 2.5 million migrant workers from neighboring countries. The Thai government in 2013 implemented a nation-wide 300 baht ($10) per day minimum wage policy and deployed new tax reforms designed to lower rates on middle-income earners. The Thai economy has weathered internal and external economic shocks in recent years. The global economic recession severely cut Thailand's exports, with most sectors experiencing double-digit drops. In late 2011 Thailand's recovery was interrupted by historic flooding in the industrial areas in Bangkok and its five surrounding provinces, crippling the manufacturing sector. The government approved flood mitigation projects worth $11.7 billion, which were started in 2012, to prevent similar economic damage, and an additional $75 billion for infrastructure over the following seven years. This was expected to lead to an economic upsurge but growth has remained slow, in part due to ongoing political unrest and resulting uncertainties. Spending on infrastructure will require re-approval once a new government is seated.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use:
GDP - composition, by sector of origin:
Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation:
Unemployment rate: Population below poverty line: Household income or consumption by percentage share:
Distribution of family income - Gini index: Budget:
Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
$673 billion (2013 est.)
country comparison to the world: 25
$654 billion (2012 est.)
$614.2 billion (2011 est.)
note:
data are in 2013 US dollars
[see also: GDP country ranks ]
$400.9 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]
2.9% (2013 est.)
country comparison to the world: 119
6.5% (2012 est.)
0.1% (2011 est.)
[see also: GDP - real growth rate country ranks ]
$9,900 (2013 est.)
country comparison to the world: 120
$9,600 (2012 est.)
$9,100 (2011 est.)
note:
data are in 2013 US dollars
[see also: GDP - per capita country ranks ]
30.8% of GDP (2013 est.)
country comparison to the world: 27
30.5% of GDP (2012 est.)
28.3% of GDP (2011 est.)
[see also: Gross national saving country ranks ]
household consumption:
53.5%
government consumption:
13.3%
investment in fixed capital:
28.2%
investment in inventories:
0.9%
exports of goods and services:
70.6%
imports of goods and services:
-66.6%
(2013 est.)
agriculture:
12.1%
industry:
43.6%
services:
44.2% (2013 est.)
rice, cassava (manioc, tapioca), rubber, corn, sugarcane, coconuts, soybeans
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
-3.1% (2013 est.)
country comparison to the world: 185
[see also: Industrial production growth rate country ranks ]
39.38 million (2013 est.)
country comparison to the world: 17
[see also: Labor force country ranks ]
agriculture:
38.2%
industry:
13.6%
services:
48.2% (2011 est.)
0.7% (2013 est.)
country comparison to the world: 3
0.7% (2012 est.)
[see also: Unemployment rate country ranks ]
13.2% (2011 est.)
[see also: Population below poverty line country ranks ]
lowest 10%:
2.8%
highest 10%:
31.5% (2009 est.)
39.4 (2010)
country comparison to the world: 64
42 (2002)
[see also: Distribution of family income - Gini index country ranks ]
revenues:
$80.91 billion
expenditures:
$92.9 billion (2013 est.)
20.2% of GDP (2013 est.)
country comparison to the world: 162
[see also: Taxes and other revenues country ranks ]
-4% of GDP (2013 est.)
country comparison to the world: 144
[see also: Budget surplus (+) or deficit (-) country ranks ]
45.9% of GDP (2013 est.)
country comparison to the world: 79
45.8% of GDP (2012 est.)
note:
data cover general government debt, and includes 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; debt instruments for the social funds are sold at public auctions
[see also: Public debt country ranks ]
1 October - 30 September
2.2% (2013 est.)
country comparison to the world: 79
3% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]
2.25% (31 December 2013 est.)
country comparison to the world: 102
3.25% (31 December 2011 est.)
[see also: Central bank discount rate country ranks ]
6.9% (31 December 2013 est.)
country comparison to the world: 117
7.1% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]
$50.18 billion (31 December 2013 est.)
country comparison to the world: 45
$52.18 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]
$516.4 billion (31 December 2013 est.)
country comparison to the world: 23
$488.6 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]
$511.2 billion (31 December 2013 est.)
country comparison to the world: 26
$480.5 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]
$348.5 billion (31 December 2013 est.)
country comparison to the world: 25
$383 billion (31 December 2012)
$268.5 billion (31 December 2011 est.)
[see also: Market value of publicly traded shares country ranks ]
-$3.2 billion (2013 est.)
country comparison to the world: 158
-$1.4 billion (2012 est.)
[see also: Current account balance country ranks ]
$225.4 billion (2013 est.)
country comparison to the world: 26
$225.8 billion (2012 est.)
[see also: Exports country ranks ]
electronics, computer parts, automobiles and parts, electrical appliances, machinery and equipment, textiles and footwear, fishery products, rice, rubber
China 11.7%, Japan 10.2%, US 9.9%, Hong Kong 5.7%, Malaysia 5.4%, Indonesia 4.9%, Singapore 4.7%, Australia 4.3% (2012)
$219 billion (2013 est.)
country comparison to the world: 24
$219.8 billion (2012 est.)
[see also: Imports country ranks ]
capital goods, intermediate goods and raw materials, consumer goods, fuels
Japan 20%, China 14.9%, UAE 6.3%, Malaysia 5.3%, US 5.3% (2012)
$167.2 billion (31 December 2013 est.)
country comparison to the world: 17
$181.6 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]
$142.6 billion (31 December 2013 est.)
country comparison to the world: 39
$130.9 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]
$193.7 billion (31 December 2013 est.)
country comparison to the world: 29
$159.6 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]
$65.14 billion (31 December 2013 est.)
country comparison to the world: 34
$52.56 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]
baht per US dollar -
30.59 (2013 est.)
31.083 (2012 est.)
31.686 (2010 est.)
34.286 (2009)
33.37 (2008)