| Economy | Thailand |
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Economy - overview:
|
With a well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies, Thailand was one of East Asia's best performers from 2002-04, averaging more than 6% annual real GDP growth. However, overall economic growth has fallen sharply - averaging 4.9% from 2005 to 2007 - as persistent political crisis stalled infrastructure mega-projects, eroded investor and consumer confidence, and damaged the country's international image. Exports were the key economic driver as foreign investment and consumer demand stalled. Export growth from January 2005 to November 2008 averaged 17.5% annually. Business uncertainty escalated, however, following the September 2006 coup when the military-installed government imposed capital controls and considered far-reaching changes to foreign investment rules and other business legislation. Although controversial capital controls have since been lifted and business rules largely remain unchanged, investor sentiment has not recovered. Moreover, the 2008 global financial crisis further darkened Thailand's economic horizon. Continued political uncertainty will hamper resumption of infrastructure mega-projects. |
GDP (purchasing power parity):
|
$553.4 billion (2008 est.)
$533.7 billion (2007)
$508.8 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$8,500 (2008 est.)
$8,200 (2007 est.)
$7,900 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$272.1 billion (2008 est.) |
GDP - real growth rate:
|
3.6% (2008 est.)
4.9% (2007 est.)
5.2% (2006 est.) |
GDP - composition by sector:
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agriculture: 11.4%
industry: 44.5%
services: 44.1% (2008 est.) |
Investment (gross fixed):
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22.2% of GDP (2008 est.) |
Population below poverty line:
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10% (2004 est.) |
Household income or consumption by percentage share:
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lowest 10%: 2.7%
highest 10%: 33.4% (2002) |
Distribution of family income - Gini index:
|
42 (2002) |
Inflation rate (consumer prices):
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5.5% (2008 est.) |
Central bank discount rate:
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2% (14 January 2009) |
Commercial bank prime lending rate:
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7.25% (31 December 2007) |
Stock of money:
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$28.62 billion (31 December 2007) |
Stock of money - per capita:
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435 USD per capita |
Stock of quasi money:
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$216.6 billion (31 December 2007) |
Stock of quasi money - per capita:
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3,287 USD per capita |
Stock of domestic credit:
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$241.8 billion (31 December 2007) |
Stock of domestic credit - per capita:
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3,669 USD per capita |
Labor force:
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37.78 million (2008 est.) |
Labor force participation rate:
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57.32 % of population |
Labor force - by occupation:
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agriculture: 42.6%
industry: 20.2%
services: 37.1% (2005 est.) |
Unemployment rate:
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1.2% (2008 est.) |
Budget:
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revenues: $45.3 billion
expenditures: $55.76 billion (2008 est.) |
Budget revenues per capita:
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688 USD per capita |
Public debt:
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42% of GDP (2008 est.) |
Industries:
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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:
|
8% (2008 est.) |
Electricity - production:
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148.4 billion kWh (2007 est.) |
Electricity - production per capita:
|
2,252 kWh per capita |
Electricity - consumption:
|
138.6 billion kWh (2007 est.) |
Electricity - consumption - per capita:
|
2,104 kWh per capita |
Electricity - exports:
|
731 million kWh (2007 est.) |
Electricity - imports:
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4.488 billion kWh (2007 est.) |
Oil - production:
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348,600 bbl/day (2007 est.) |
Oil - production per capita:
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5,290 bbl/day per capita |
Oil - consumption:
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928,600 bbl/day (2006 est.) |
Oil - consumption - per capita:
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5.14 bbl/year per capita |
Oil - exports:
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207,400 bbl/day (2005) |
Oil - imports:
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832,900 bbl/day (2005) |
Oil - proved reserves:
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176 million bbl (1 January 2008 est.) |
Natural gas - production:
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25.4 billion cu m (2007 est.) |
Natural gas - production per capita:
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386 cu m per capita |
Natural gas - consumption:
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35.3 billion cu m (2007 est.) |
Natural gas - consumption - per capita:
|
536 cu m per capita |
Natural gas - exports:
|
0 cu m (2007 est.) |
Natural gas - imports:
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9.8 billion cu m (2007 est.) |
Natural gas - proved reserves:
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331.2 billion cu m (1 January 2008 est.) |
Agriculture - products:
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rice, cassava (tapioca), rubber, corn, sugarcane, coconuts, soybeans |
Current account balance:
|
-$1.049 billion (2008 est.) |
Current account balance - per capita:
|
-15 USD per capita |
Exports:
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$178.4 billion f.o.b. (2008 est.) |
Exports per capita:
|
2,707 USD per capita |
Exports - commodities:
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textiles and footwear, fishery products, rice, rubber, jewelry, automobiles, computers and electrical appliances |
Exports - partners:
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US 12.6%, Japan 11.9%, China 9.7%, Singapore 6.3%, Hong Kong 5.7%, Malaysia 5.1% (2007) |
Imports:
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$179 billion f.o.b. (2008 est.) |
Imports per capita:
|
2,717 USD per capita |
Imports - commodities:
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capital goods, intermediate goods and raw materials, consumer goods, fuels |
Imports - partners:
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Japan 20.3%, China 11.6%, US 6.8%, Malaysia 6.2%, UAE 4.9%, Singapore 4.5%, Taiwan 4.1% (2007) |
Reserves of foreign exchange and gold:
|
$106.3 billion (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
1,613 USD per capita |
Debt - external:
|
$64.8 billion (September 2008 est.) |
Debt - external - per capita:
|
984 USD per capita |
Stock of direct foreign investment - at home:
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$80.83 billion (2007 est.) |
Stock of direct foreign investment - at home - per capita:
|
1,227 USD per capita |
Stock of direct foreign investment - abroad:
|
$7.013 billion (2007 est.) |
Stock of direct foreign investment - abroad - per capita:
|
107 USD per capita |
Market value of publicly traded shares:
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$196 billion (31 December 2007) |
Market value of publicly traded shares - per capita:
|
2,974 USD per capita |
Economic aid - donor:
|
void |
Economic aid - recipient:
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$171.1 million (2005) |
Economic aid - recipient per capita:
|
3 USD per capita |
Currency (code):
|
baht (THB) |
Exchange rates:
|
baht per US dollar - 33.37 (2008 est.), 34.52 (2007), 37.882 (2006), 40.22 (2005), 40.222 (2004) |
Fiscal year:
|
1 October - 30 September |
|
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