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Thailand Economy 2017
https://theodora.com/wfbcurrent/thailand/thailand_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Thailand Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
With a well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies, Thailand historically has had a strong economy, but it experienced slow growth in 2013-15 as a result of domestic political turmoil and sluggish global demand, which curbed Thailand’s traditionally strong exports - mostly electronics, agricultural commodities, automobiles and parts, and processed foods. Following the May 2014 coup d'etat, tourism decreased 6-7% but is beginning to recover. The Thai baht depreciated more than 8% during 2015.Thailand faces labor shortages, and has attracted an estimated 2-4 million migrant workers from neighboring countries. The Thai Government in 2013 implemented a nationwide 300 baht (roughly $10) per day minimum wage policy and deployed new tax reforms designed to lower rates on middle-income earners. The household debt to GDP ratio is over 80%.

GDP (purchasing power parity):
$1.161 trillion (2016 est.) $1.125 trillion (2015 est.) $1.094 trillion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 21
[see also: GDP country ranks ]

GDP (official exchange rate):
$390.6 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.2% (2016 est.) 2.8% (2015 est.) 0.8% (2014 est.)
country comparison to the world: 86
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$16,800 (2016 est.) $16,300 (2015 est.) $15,900 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 100
[see also: GDP - per capita country ranks ]

Gross national saving:
34.1% of GDP (2016 est.) 32% of GDP (2015 est.) 27.9% of GDP (2014 est.)
country comparison to the world: 14
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 50.9%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 17.9%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 24.1%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -1.4%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 65.4%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -56.9% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 8.9%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 35.9%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 55.3% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
rice, cassava (manioc, tapioca), rubber, corn, sugarcane, coconuts, palm oil, pineapple, livestock, fish products

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, agricultural

Industrial production growth rate:
3.1% (2016 est.)
country comparison to the world: 79
[see also: Industrial production growth rate country ranks ]

Labor force:
38.45 million (2016 est.)
country comparison to the world: 17
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 32.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 16.7%
[see also: Labor force - by occupation - industry country ranks ]
services: 51.1% (2014 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
0.9% (2016 est.) 0.9% (2015 est.)
country comparison to the world: 4
[see also: Unemployment rate country ranks ]

Population below poverty line:
12.6% (2012 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 31.5% (2009 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
48.4 (2011) 49 (2009)
country comparison to the world: 24
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $76.69 billion
[see also: Budget revenues country ranks ]
expenditures: $86.94 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
19.6% of GDP (2016 est.)
country comparison to the world: 157
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.6% of GDP (2016 est.)
country comparison to the world: 91
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
50.4% of GDP (2016 est.) 46% of GDP (2015 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 i
country comparison to the world: 89
[see also: Public debt country ranks ]

Fiscal year:
1 October - 30 September

Inflation rate (consumer prices):
0.2% (2016 est.) -0.9% (2015 est.)
country comparison to the world: 38
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
2% (31 December 2014) 2.25% (31 December 2013)
country comparison to the world: 113
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
6.4% (31 December 2016 est.) 6.56% (31 December 2015 est.)
country comparison to the world: 122
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$50.36 billion (31 December 2016 est.) $49.27 billion (31 December 2015 est.)
country comparison to the world: 50
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$517.4 billion (31 December 2014 est.) $524.8 billion (31 December 2013 est.)
country comparison to the world: 22
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$501.5 billion (31 December 2016 est.) $486.6 billion (31 December 2015 est.)
country comparison to the world: 25
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$348.8 billion (31 December 2015 est.) $430.4 billion (31 December 2014 est.) $354.4 billion (31 December 2013 est.)
country comparison to the world: 28
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$37.69 billion (2016 est.) $30.99 billion (2015 est.)
country comparison to the world: 12
[see also: Current account balance country ranks ]

Exports:
$190 billion (2016 est.) $212.1 billion (2015 est.)
country comparison to the world: 23
[see also: Exports country ranks ]

Exports - commodities:
automobiles and parts, computer and parts, jewelry and precious stones, polymers of ethylene in primary forms, refine fuels, electronic integrated circuits, chemical products, rice, fish products, rubber products, sugar, cassava, poultry, machinery and pa

Exports - partners:
US 11.2%, China 11.1%, Japan 9.4%, Hong Kong 5.5%, Malaysia 4.8%, Australia 4.6%, Vietnam 4.2%, Singapore 4.1% (2015)

Imports:
$171.3 billion (2016 est.) $177.5 billion (2015 est.)
country comparison to the world: 24
[see also: Imports country ranks ]

Imports - commodities:
machinery and parts, crude oil, electrical machinery and parts, chemicals, iron & steel and product, electronic integrated circuit, automobile’s parts, jewelry including silver bars and gold, computers and parts, electrical household appliances, soybean,

Imports - partners:
China 20.3%, Japan 15.4%, US 6.9%, Malaysia 5.9%, UAE 4% (2015)

Reserves of foreign exchange and gold:
$181.4 billion (31 December 2016 est.) $156.5 billion (31 December 2015 est.)
country comparison to the world: 13
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$137.1 billion (31 December 2016 est.) $134.7 billion (31 December 2015 est.)
country comparison to the world: 42
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$190.6 billion (31 December 2016 est.) $186.1 billion (31 December 2015 est.)
country comparison to the world: 31
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$88.18 billion (31 December 2016 est.) $78.68 billion (31 December 2015 est.)
country comparison to the world: 37
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
baht per US dollar - 35.4 (2016 est.) 34.248 (2015 est.) 34.248 (2014 est.) 32.48 (2013 est.) 31.08 (2012 est.)


NOTE: The information regarding Thailand on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Thailand Economy 2017 information contained here. All suggestions for corrections of any errors about Thailand Economy 2017 should be addressed to the CIA.




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