Thailand Economy 2018, CIA World Factbook
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Thailand Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Thailand Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
With a relatively well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies, Thailand is highly dependent on international trade, with exports accounting for about two-thirds of GDP. Thailand’s exports include electronics, agricultural commodities, automobiles and parts, and processed foods. The industry and service sectors produce about 90% of GDP. The agricultural sector, comprised mostly of small-scale farms, contributes only 10% of GDP but employs about one-third of the labor force. Thailand has attracted an estimated 3.0-4.5 million migrant workers, mostly from neighboring countries.Over the last few decades, Thailand has reduced poverty substantially. In 2013, the Thai Government 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.Thailand’s economy is recovering from slow growth during the years since the 2014 coup. Thailand’s economic fundamentals are sound, with low inflation, low unemployment, and reasonable public and external debt levels. Tourism and government spending - mostly on infrastructure and short-term stimulus measures – have helped to boost the economy, and The Bank of Thailand has been supportive, with several interest rate reductions.Over the longer-term, household debt levels, political uncertainty, and an aging population pose risks to growth.

GDP (purchasing power parity):
$1.229 trillion (2017 est.) $1.185 trillion (2016 est.) $1.148 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 21

GDP (official exchange rate):
$437.8 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.7% (2017 est.) 3.2% (2016 est.) 2.9% (2015 est.)
country comparison to the world: 85
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$17,800 (2017 est.) $17,200 (2016 est.) $16,700 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 97

Gross national saving:
32.8% of GDP (2017 est.) 33.5% of GDP (2016 est.) 30.3% of GDP (2015 est.)
country comparison to the world: 19
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 50.1%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 17%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 24.2%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -7%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 70.4%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -54.7% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 8.2%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 36.2%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 55.6% (2017 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 machinery, air conditioning and refrigeration, ceramics, aluminum, chemical, environmental management, glass, granite and marble, leather, machinery and metal work, petrochemical, petroleum refining, pharmaceuticals, printing, pulp and paper, rubber, sugar, rice, fishing, cassava, world's second-largest tungsten producer and third-largest tin producer

Industrial production growth rate:
3.6% (2017 est.)
country comparison to the world: 78
[see also: Industrial production growth rate country ranks ]

Labor force:
38.37 million (2017 est.)
country comparison to the world: 17
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 31.8%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 16.7%
[see also: Labor force - by occupation - industry country ranks ]
services: 51.5% (2015 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
0.7% (2017 est.) 0.8% (2016 est.)
country comparison to the world: 4
[see also: Unemployment rate country ranks ]

Population below poverty line:
7.2% (2015 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.)

Distribution of family income - Gini index:
44.5 (2015) 48.4 (2011)
country comparison to the world: 43
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $79.6 billion
[see also: Budget - revenues country ranks ]
expenditures: $90.56 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
18.2% of GDP (2017 est.)
country comparison to the world: 166
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.5% of GDP (2017 est.)
country comparison to the world: 99
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
44.1% of GDP (2017 est.) 41.2% of GDP (2016 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
country comparison to the world: 120
[see also: Public debt country ranks ]

Fiscal year:
1 October - 30 September

Inflation rate (consumer prices):
0.6% (2017 est.) 0.2% (2016 est.)
country comparison to the world: 22
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1.5% (31 December 2016) 1.5% (31 December 2015)
country comparison to the world: 121
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
6.2% (31 December 2017 est.) 6.31% (31 December 2016 est.)
country comparison to the world: 125
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$56.36 billion (31 December 2017 est.) $52.03 billion (31 December 2016 est.)
country comparison to the world: 51
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$546.1 billion (31 December 2017 est.) $510.4 billion (31 December 2016 est.)
country comparison to the world: 22
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$537.2 billion (31 December 2017 est.) $507.5 billion (31 December 2016 est.)
country comparison to the world: 26
[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:
$44 billion (2017 est.) $46.83 billion (2016 est.)
country comparison to the world: 11
[see also: Current account balance country ranks ]

Exports:
$228.2 billion (2017 est.) $214.3 billion (2016 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 parts, iron and steel and their products

Exports - partners:
US 11.4%, China 11.1%, Japan 9.6%, Hong Kong 5.3%, Australia 4.8%, Malaysia 4.5%, Vietnam 4.4% (2016)

Imports:
$190 billion (2017 est.) $177.7 billion (2016 est.)
country comparison to the world: 26
[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, soybean meal, wheat, cotton, dairy products

Imports - partners:
China 21.6%, Japan 15.8%, US 6.2%, Malaysia 5.6% (2016)

Reserves of foreign exchange and gold:
$193.5 billion (31 December 2017 est.) $171.9 billion (31 December 2016 est.)
country comparison to the world: 13
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$135.5 billion (31 December 2017 est.) $130.6 billion (31 December 2016 est.)
country comparison to the world: 44
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$205.5 billion (31 December 2017 est.) $193.5 billion (31 December 2016 est.)
country comparison to the world: 30
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$112.3 billion (31 December 2017 est.) $96.27 billion (31 December 2016 est.)
country comparison to the world: 34
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
baht per US dollar - 34.34 (2017 est.) 35.296 (2016 est.) 35.296 (2015 est.) 34.248 (2014 est.) 32.48 (2013 est.)


NOTE: 1) The information regarding Thailand on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Thailand Economy 2018 information contained here. All suggestions for corrections of any errors about Thailand Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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