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Economy - overview: With a well-developed infrastructure, a
free-enterprise economy, and generally pro-investment policies, Thailand was one
of East Asia's best performers from 2002-04, averaging more than 6% annual real
GDP growth. However, overall economic growth has fallen sharply - averaging 4.9%
from 2005 to 2007 - as persistent political crisis stalled infrastructure
mega-projects, eroded investor and consumer confidence, and damaged the
country's international image. Exports were the key economic driver as foreign
investment and consumer demand stalled. Export growth from January 2005 to
November 2008 averaged 17.5% annually. Business uncertainty escalated, however,
following the September 2006 coup when the military-installed government imposed
capital controls and considered far-reaching changes to foreign investment rules
and other business legislation. Although controversial capital controls have
since been lifted and business rules largely remain unchanged, investor
sentiment has not recovered. Moreover, the 2008 global financial crisis further
darkened Thailand's economic horizon. Continued political uncertainty will
hamper resumption of infrastructure mega-projects.
GDP (PPP): $547.4 billion (2008 est.)
GDP (official exchange rate): $273.2 billion (2008 est.)
GDP - real growth rate: 2.6% (2008 est.)
GDP - per capita (PPP): $8,400 (2008 est.) GDP - composition by sector:
agriculture: 11.6%
industry: 45.1%
services: 43.3% (2008 est.)
Labor force: 37.78 million (2008 est.)
Labor force - by occupation:
agriculture: 42.6%
industry: 20.2%
services: 37.1% (2005 est.)
Unemployment rate: 1.4% (2008 est.)
Population below poverty line: 10% (2004 est.)
Household income or consumption by percentage share:
lowest 10%: 2.6%
highest 10%: 33.7% (2004)
Distribution of family income - Gini index: 42 (2002)
Inflation rate (consumer prices): 5.5% (2008 est.)
Investment (gross fixed): 27.3% of GDP (2008 est.) Budget:
revenues: $48.24 billion
expenditures: $51.33 billion (2008 est.) Public Debt:
37.9% of GDP (2008 est.) Agriculture - Products: rice, cassava
(tapioca), 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: 3.4% (2008 est.)
Electricity - production: 148.4 billion kWh (2007)
Electricity - consumption: 138.6 billion kWh (2007)
Electricity - exports: 731 million kWh (2007)
Electricity - imports: 4.488 billion kWh (2007)
Oil - production: 348,600 bbl/day (2007 est.)
Oil - consumption: 928,600 bbl/day (2006 est.)
Oil - exports: 207,400 bbl/day (2005)
Oil - imports: 832,900 bbl/day (2005)
Oil - proved reserves: 176 million bbl (1 January 2008 est.)
Natural gas - production: 25.4 billion cu m (2007 est.)
Natural gas - consumption: 35.3 billion cu m (2007 est.)
Natural gas - exports: 0 cu m (20075 est.)
Natural gas - imports: 9.8 billion cu m (2007)
Natural gas - proved reserves: 331.2 billion cu m (1 January 2008
est.)
Current Account Balance: -$1.049 billion (2008 est.)
Exports: $174.8 billion (2008 est.)
Exports - commodities: textiles and footwear, fishery products,
rice, rubber, jewelry, automobiles, computers and electrical appliances
Exports - partners: US 11.4%, Japan 11.4%, China 9.2%,
Singapore 5.7%, Hong Kong 5.6%, Malaysia 5.6%, Australia 4.3% (2008)
Imports: $157.3 billion (2008 est.)
Imports - commodities: capital goods, intermediate goods and raw
materials, consumer goods, fuels
Imports - partners: Japan 18.8%, China 11.2%, US 6.4%, UAE 6%,
Malaysia 5.5%, Saudi Arabia 4.1%, Singapore 4% (2008)
Reserves of foreign exchange & gold: $111 billion (31 December
2008 est.)
Debt - external: $59.69 billion (31 December 2008 est.)
Currency: baht (THB)
Exchange rates: baht per US dollar - 33.37 (2008 est.), 34.52 (2007),
37.882 (2006), 40.22 (2005), 40.222 (2004)
Fiscal year: 1 October - 30 September
This information comes from the CIA
World Factbook September 2009.
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