Economy - overview One of the more advanced developing countries in Asia, Thailand dependson exports of manufactures - including high-technology goods - and the developmentof the service sector to fuel the country's rapid growth, averaging 9% since1989. Most of Thailand's recent imports have been for capital equipment andraw materials, although imports of consumer goods are beginning to rise. Thailand's35% domestic savings rate is a key source of capital for the economy, andthe country is also benefiting from rising investment from abroad. Prime MinisterCHAWALIT's government - Thailand's seventh government in six years - willcontinue Bangkok's probusiness policies and reemphasize Bangkok's traditionalfiscal austerity. CHAWALIT is beginning to address Thailand's serious infrastructurebottlenecks, especially in the transport and telecommunications sectors. Overthe longer term, Bangkok must produce more college graduates with technicaltraining and upgrade workers' skills to continue its rapid economic development.

GDP purchasing power parity - $455.7 billion (1996 est.)

GDP - real growth rate 6.7% (1996 est.)

GDP - per capita purchasing power parity - $7,700 (1996 est.)

GDP - composition by sector
agriculture: 10.5%
industry: 30.5%
services: 59% (1996 est.)

Inflation rate - consumer price index 5.9% (1996 est.)

Labor force
total: 34.03 million (1996 est.)
by occupation: agriculture 57%, industry 17%, commerce 11%, services (including government)15% (1993 est.)

Unemployment rate 2.6% (1996 est.)

Budget
revenues : $28.4 billion
expenditures: $28.4 billion, including capital expenditures of $6.1 billion (FY94/95)

Industries tourism; textiles and garments, agricultural processing, beverages,tobacco, cement, light manufacturing, such as jewelry; electric appliancesand components, integrated circuits, furniture, plastics; world's second-largesttungsten producer and third-largest tin producer

Industrial production growth rate 13.3% (1995 est.)

Electricity - capacity 15.84 million kW (1994)

Electricity - production 70.21 billion kWh (1994)

Electricity - consumption per capita 1,205 kWh (1995 est.)

Agriculture - products rice, cassava (tapioca), rubber, corn, sugarcane, coconuts, soybeans

Exports
total value: $57.3 billion (f.o.b., 1996)
commodities: manufactures 73%, agricultural products and fisheries 21%, raw materials5%, fuels 1%
partners : US 21.0%, Japan 17.1%, Singapore 13.6%, Hong Kong 5.3%, Germany 3.5%,UK 3.0%, Netherlands 2.8%, Malaysia 2.4%

Imports
total value: $72.4 billion (c.i.f., 1996)
commodities: manufactures 80%, fuels 6.9%, raw materials 6.6%, foodstuffs 4.3%
partners: Japan 30.4%, US 11.9%, Singapore 6.3%, Germany 5.8%, Taiwan 5.1%, Malaysia4.9%, South Korea 3.7%, China 2.6%

Debt - external $61.6 billion (1995)

Economic aid
recipient: ODA, $624 million (1993)

Currency 1 baht (B) = 100 satang

Exchange rates baht (B) per US$1 - 25.708 (January 1997), 15.343 (1996), 24.915 (1995),25.150 (1994), 25.319 (1993), 25.400 (1992)

Fiscal year 1 October - 30 September

NOTE: The information regarding Thailand on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Thailand Economy 1997 information contained here. All suggestions for corrections of any errors about Thailand Economy 1997 should be addressed to the CIA.