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Thailand Economic Outlook

Thailand’s Economic Situation & Outlook

Thailand is the world’s 29th largest economy, with an estimated GDP of US $318.5 billion. It offers a well-developed and stable infrastructure and a pro-business investment climate based on free-market principles. Thailand’s major economic industries include agriculture, textiles, light manufacturing and tourism.

Thailand enjoyed stable growth between 2003 and 2008, averaging 4.7 percent per year. After a year of strong growth in 2010 (+7.8 percent), Thailand slowed to +1.5 percent in 2011 as a result of the severe flooding in the central region and slow overall global recovery.

Other Facts about Thailand:
The world’s 17th largest labor force, totaling 39.38 million
38.2 percent are employed in agriculture
13.6 percent are employed in industry
48.2 percent are employed in services
The world’s 3rd lowest unemployment rate, totaling 0.7 percent in 2013
Foreign exchanges reserves totaling, US $167.2 billion (December 31, 2013 est)
Ranks 39th with respect to external debt, totaling US $142.6 billion (December 31, 2013 est)
Thailand ranks 117th in the world for per capita income, currently at US $4,716

Data sources: Bank of Thailand, CIA World Fact Book and the World Bank
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