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Thailand:
Economy

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Economy - overview
Definition
With a well-developed infrastructure, a free-enterprise economy, and generally 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 strong export growth, the Thai economy grew 4.5% in 2007. Bangkok has pursued preferential trade agreements with a variety of partners in an effort to boost exports and to maintain high growth. By 2007, the tourism sector had largely recovered from the major 2004 tsunami. Following the military coup in September 2006, investment and consumer confidence stagnated due to the uncertain political climate that lasted through the December 2007 elections. Foreign investor sentiment was further tempered by a 30% reserve requirement on capital inflows instituted in December 2006, and discussion of amending Thailand's rules governing foreign-owned businesses. Economic growth in 2007 was due almost entirely to robust export performance - despite the pressure of an appreciating currency. 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 (purchasing power parity)
Definition - World rank and map
$519.4 billion (2007 est.)
GDP (official exchange rate)
Definition
$245.7 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
4.8% (2007 est.)
GDP - per capita
Definition - World rank and map
$7,900 (2007 est.)
GDP - composition by sector
Definition
agriculture: 11.4%
industry: 43.9%
services: 44.7% (2007 est.)
Labor force
Definition
36.9 million (2007 est.)
Labor force - by occupation
Definition
agriculture: 49%
industry: 14%
services: 37% (2000 est.)
Unemployment rate
Definition - World rank and map
1.4% (2007 est.)
Population below poverty line
Definition
10% (2004 est.)
Household income or consumption by percentage share
Definition
lowest 10%: 2.7%
highest 10%: 33.4% (2002)
Distribution of family income - Gini index
Definition - World rank and map
42 (2002)
Inflation rate (consumer prices)
Definition - World rank and map
2.2% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
26.8% of GDP (2007 est.)
Budget
Definition
revenues: $44.09 billion
expenditures: $49.84 billion (2007 est.)
Public debt
Definition - World rank and map
37.9% of GDP (2007 est.)
Agriculture - products
Definition
rice, cassava (tapioca), rubber, corn, sugarcane, coconuts, soybeans
Industries
Definition
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
Definition - World rank and map
5.4% (2007 est.)
Electricity - production
Definition - World rank and map
124.6 billion kWh (2005)
Electricity - consumption
Definition - World rank and map
117.7 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
1,797.2 kWh (2005)
Electricity - exports
Definition
642 million kWh (2005)
Electricity - imports
Definition
4.419 billion kWh (2005)
Oil - production
Definition - World rank and map
310,900 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
929,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
14.2 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
225,700 bbl/day (2004)
Oil - imports
Definition - World rank and map
893,400 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
291 million bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
22.73 billion cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
31.23 billion cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
477 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
8.497 billion cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
400.7 billion cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
$14.92 billion (2007 est.)
Exports
Definition - World rank and map
$151 billion f.o.b. (2007 est.)
Exports - commodities
Definition
textiles and footwear, fishery products, rice, rubber, jewelry, automobiles, computers and electrical appliances
Exports - partners
Definition
US 12.6%, Japan 11.9%, China 9.7%, Singapore 6.3%, Hong Kong 5.7%, Malaysia 5.1% (2006)
Imports
Definition - World rank and map
$125 billion f.o.b. (2007 est.)
Imports - commodities
Definition
capital goods, intermediate goods and raw materials, consumer goods, fuels
Imports - partners
Definition
Japan 20.3%, China 11.6%, US 6.8%, Malaysia 6.2%, UAE 4.9%, Singapore 4.5%, Taiwan 4.1% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$87.46 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$58.5 billion (31 December 2007)
Stock of direct foreign investment - at home
Definition
$80.84 billion (2007 est.)
Stock of direct foreign investment - abroad
Definition
$7.017 billion (2007 est.)
Market value of publicly traded shares
Definition
$139.6 billion (2006)
Economic aid - recipient
Definition
$171.1 million (2005)
Currency (code)
Definition
baht (THB)
Exchange rates
Definition
baht per US dollar - 33.599 (2007), 37.882 (2006), 40.22 (2005), 40.222 (2004), 41.485 (2003)
Fiscal year
Definition
1 October - 30 September


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