Travel and tourism, ICT, transport, insurance & finance, machinery, rice, automotive, rubber, electronics, chemicals, metals, gold, agriculture and textiles are major industries of Thailand.
In 2020, Services industry exports was valued at USD 31.7 billion for Thailand. Electronics export accounted for USD 35.9 billion, machinery for USD 45.7 billion, vehicles for USD 25.4 billion, chemicals for USD 37 billion, metals for USD 10.2 billion, minerals for USD 7.01 billion, stones for USD 20.7 billion, textiles for USD 7.80 billion and agriculture for USD 38.8 billion in 2020.
Thailand is a country located at the center of the Indo-china peninsula in Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by the Andaman Sea and the southern extremity of Burma. Thailand is a constitutional monarchy, which is headed by King Rama X, the tenth king of the House of Chakri. Thai's maritime boundaries include Vietnam in the Gulf of Thailand to the southeast, and Indonesia and India in the Andaman Sea to the southwest.
Thailand had population of 69.951 million in the year 2021 and expected to reach 70.394 million by 2027, growing at a CAGR of 0.11%.
Thailand’s real gross domestic product (GDP) was THB 10,246.54 billion in 2020 and while recovering from the COVID-19 impact it increased by 1.54% to be around THB 10,407.03 billion in 2021. It is further expected to increase by 3.51% and reach THB 12,802.94 billion by 2027.
Thailand’s unemployment rate was 1.5% of total labor force in 2021. It is expected to decrease by 9.43% and reach 1% by 2027.
Thailand’s per capita GDP was USD 7,33.09 whereas purchasing power parity (PPP) based per capita GDP was USD 19,209.59 for the year 2021.
In 2021, Thailand government’s revenue was THB 3,249.71 billion whereas the expenditure was THB 4,506.16 billion. This resulted in Thailand government’s net lending / borrowing negative at THB 1,256.45 billion in 2021 indicating that not enough financial resources were made available by the Thailand government to boost economic growth.
The current account balance for Thailand was negative at USD 10.901 billion for the year 2021 and is expected to increase at a CAGR of 290% and reach positive USD 22.526 billion by 2027. This positive current account balance indicates that Thailand will become a net lender to the rest of the world till 2027.
*If Applicable.