Thailand - Economy
How is the economy of Thailand? Based on the information we have, Thailand has a upper middle-income Southeast Asian economy; substantial infrastructure; major electronics, food, and automobile parts exporter; globally used currency; extremely low unemployment; ongoing Thailand 4.0 economic development. Key agricultural products in this country include: sugarcane, rice, cassava, oil palm fruit, maize, rubber, tropical fruits, chicken, pineapples, fruits (2022).
More about the economy of Thailand
| Labor force | 40.814 million (2023 est.) |
|---|---|
| Industrial production growth rate | -2.27% (2023 est.) |
| 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 |
| Population below poverty line | 6.3% (2021 est.) |
| Taxes and other revenues | 14.38% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | baht per US dollar - |
| Exchange rates 2023 | 34.802 (2023 est.) |
| Exchange rates 2022 | 35.061 (2022 est.) |
| Exchange rates 2021 | 31.977 (2021 est.) |
| Exchange rates 2020 | 31.294 (2020 est.) |
| Exchange rates 2019 | 31.048 (2019 est.) |
| Debt - external | |
| Debt - external 2019 | $167.89 billion (2019 est.) |
| Debt - external 2018 | $158.964 billion (2018 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $224.47 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $216.501 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $246.025 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $7.002 billion (2023 est.) |
| Current account balance 2022 | -$15.742 billion (2022 est.) |
| Current account balance 2021 | -$10.268 billion (2021 est.) |
| Public debt | |
| Public debt 2022 | 60.35% of GDP (2022 est.) |
| Budget | |
| Revenues | $104.689 billion (2020 est.) |
| Expenditures | $128.581 billion (2020 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 1.9% of GDP (2023 est.) |
| Remittances 2022 | 1.8% of GDP (2022 est.) |
| Remittances 2021 | 1.79% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 3.2% (2021 est.) |
| Highest 10% | 27.1% (2021 est.) |
| Average household expenditures | |
| On food | 28.3% of household expenditures (2021 est.) |
| On alcohol and tobacco | 3.3% of household expenditures (2021 est.) |
| Imports | |
| Imports 2023 | $328.009 billion (2023 est.) |
| Imports 2022 | $334.478 billion (2022 est.) |
| Imports 2021 | $296.115 billion (2021 est.) |
| Imports (partners) | China 26%, Japan 11%, UAE 6%, US 5%, Malaysia 5% (2022) |
| Comodities Imports force | crude petroleum, integrated circuits, gold, natural gas, vehicle parts/accessories (2022) |
| Exports | |
| Imports 2023 | $328.009 billion (2023 est.) |
| Imports 2022 | $334.478 billion (2022 est.) |
| Imports 2021 | $296.115 billion (2021 est.) |
| Exports (partners) | US 17%, China 11%, Japan 8%, Vietnam 4%, Malaysia 4% (2022) |
| Comodities Exports force | machine parts, integrated circuits, cars, trucks, vehicle parts/accessories (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $1.516 trillion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $1.488 trillion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $1.452 trillion (2021 est.) |
| GDP (official exchange rate) | $514.945 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $21,100 (2023 est.) |
| Real GDP per capita 2022 | $20,800 (2022 est.) |
| Real GDP per capita 2021 | $20,300 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 8.2% (2017 est.) |
| Industry | 36.2% (2017 est.) |
| Services | 55.6% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 48.8% (2017 est.) |
| Government consumption | 16.4% (2017 est.) |
| Investment in fixed capital | 23.2% (2017 est.) |
| Investment in inventories | -0.4% (2017 est.) |
| Exports of goods and services | 68.2% (2017 est.) |
| Imports of goods and services | -54.6% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 0.91% (2023 est.) |
| Unemployment rate 2022 | 0.94% (2022 est.) |
| Unemployment rate 2021 | 1.22% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 5.3% (2023 est.) |
| Male | 3.9% (2023 est.) |
| Female | 7.4% (2023 est.) |
All Important Facts about Thailand
Want to know more about Thailand? Check all different factbooks for Thailand below.
