| Economy - overview | With a well-developed infrastructure, a free-enterprise economy, generally pro-investment policies, and strong export industries, Thailand achieved steady growth due largely to industrial and agriculture exports - mostly electronics, agricultural commodities and processed foods. Bangkok is trying to maintain growth by encouraging domestic consumption and public investment. Unemployment, at less than 1% of the labor force, stands as one of the lowest levels in the world, which puts upward pressure on wages in some industries. Thailand also attracts nearly 2.5 million migrant workers from neighboring countries. Bangkok is implementing a nation-wide 300 baht per day minimum wage policy and deploying new tax reforms designed to lower rates on middle-income earners. The Thai economy has weathered internal and external economic shocks in recent years. The global economic severely cut Thailand's exports, with most sectors experiencing double-digit drops. In 2009, the economy contracted 2.3%. However, in 2010, Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports rebounded. In late 2011 growth was interrupted by historic flooding in the industrial areas north of Bangkok, crippling the manufacturing sector. Industry recovered from the second quarter of 2012 onward and GDP expanded 5.8% in 2012. The government has invested in flood mitigation projects to prevent similar economic damage. |
| GDP (purchasing power parity) | $646.1 billion (2012 est.)
$612 billion (2011 est.)
$611.7 billion (2010 est.)
note: data are in 2012 US dollars |
| GDP (official exchange rate) | $377 billion (2012 est.) |
| GDP - real growth rate | 5.6% (2012 est.)
0.1% (2011 est.)
7.8% (2010 est.) |
| GDP - per capita (PPP) | $10,000 (2012 est.)
$9,600 (2011 est.)
$9,600 (2010 est.)
note: data are in 2012 US dollars |
| GDP - composition by sector | agriculture: 13%
industry: 43%
services: 44.1% (2012 est.) |
| Population below poverty line | 8.1% (2009 est.) |
| Labor force | 39.77 million (2012 est.) |
| Labor force - by occupation | agriculture: 40.7%
industry: 13.2%
services: 46.1% (2011 est.) |
| Unemployment rate | 0.9% (2012 est.)
0.7% (2011 est.) |
| Unemployment, youth ages 15-24 | total: 4.3%
male: 3.7%
female: 5.1% (2009) |
| Household income or consumption by percentage share | lowest 10%: 2.8%
highest 10%: 31.5% (2009 est.) |
| Distribution of family income - Gini index | 53.6 (2009)
42 (2002) |
| Investment (gross fixed) | 28.8% of GDP (2012 est.) |
| Budget | revenues: $68.26 billion
expenditures: $77.13 billion (2012 est.) |
| Taxes and other revenues | 18.1% of GDP (2012 est.) |
| Budget surplus (+) or deficit (-) | -2.4% of GDP (2012 est.) |
| Public debt | 47.8% of GDP (2012 est.)
44.9% of GDP (2011 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 |
| Inflation rate (consumer prices) | 3.1% (2012 est.)
3.8% (2011 est.) |
| Central bank discount rate | 3.25% (31 December 2011 est.)
2% (31 December 2010 est.) |
| Commercial bank prime lending rate | 7.1% (31 December 2012 est.)
6.91% (31 December 2011 est.) |
| Stock of narrow money | $49.33 billion (31 December 2012 est.)
$44.63 billion (31 December 2011 est.) |
| Stock of money | $35.35 billion (31 December 2009)
$28.76 billion (31 December 2008) |
| Stock of quasi money | $283.6 billion (31 December 2009)
$237.5 billion (31 December 2008) |
| Stock of broad money | $462.4 billion (31 December 2012 est.)
$428.1 billion (31 December 2011 est.) |
| Stock of domestic credit | $420.4 billion (31 December 2012 est.)
$402.5 billion (31 December 2011 est.) |
| Market value of publicly traded shares | $268.5 billion (31 December 2011)
$277.7 billion (31 December 2010)
$138.2 billion (31 December 2009) |
| Agriculture - products | rice, cassava (manioc), rubber, corn, sugarcane, coconuts, soybeans |
| 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; world's second-largest tungsten producer and third-largest tin producer |
| Industrial production growth rate | -9.3% (2011 est.) |
| Current Account Balance | -$2.442 billion (2012 est.)
$5.322 billion (2011 est.) |
| Exports | $218.1 billion (2012 est.)
$219.1 billion (2011 est.) |
| Exports - commodities | textiles and footwear, fishery products, rice, rubber, jewelry, automobiles, computers and electrical appliances |
| Exports - partners | China 12%, Japan 10.5%, US 9.6%, Hong Kong 7.2%, Malaysia 5.4%, Singapore 5%, Indonesia 4.4% (2011) |
| Imports | $213.7 billion (2012 est.)
$202.1 billion (2011 est.) |
| Imports - commodities | capital goods, intermediate goods and raw materials, consumer goods, fuels |
| Imports - partners | Japan 18.4%, China 13.4%, UAE 6.3%, US 5.9%, Malaysia 5.4%, South Korea 4% (2011) |
| Reserves of foreign exchange and gold | $172.8 billion (31 December 2012 est.)
$175.1 billion (31 December 2011 est.) |
| Debt - external | $115.6 billion (30 September 2011 est.)
$100.6 billion (31 December 2010 est.) |
| Stock of direct foreign investment - at home | $158.7 billion (31 December 2012 est.)
$146.7 billion (31 December 2011 est.) |
| Stock of direct foreign investment - abroad | $45.79 billion (31 December 2012 est.)
$34.79 billion (31 December 2011 est.) |
| Exchange rates | baht per US dollar -
31.41 (2012 est.)
30.492 (2011 est.)
31.686 (2010 est.)
34.286 (2009)
33.37 (2008) |
| Fiscal year | 1 October - 30 September |
