Please create an employee account to be able to mark statistics as favorites. The regional avian-flu outbreak contracted Thailand's agricultural sector in 2004, and the tsunami of 26 December devastated the Andaman Sea fishing industry. , A sharp decrease in the value of the baht abruptly increased foreign debt, undermining financial institutions. A China-Thailand Free Trade Agreement (FTA) began in October 2003. :47, Developments in agriculture since the 1960s have supported Thailand's transition to an industrialised economy.  Before the People's Alliance for Democracy (PAD) and the Yellow Shirts reconvened in March 2008, the GDP grew by 6.5 percent (YoY) in the first quarter of the year.
Accessed November 04, 2020. https://www.statista.com/statistics/331893/share-of-economic-sectors-in-the-gdp-in-thailand/, World Bank.  As recently as 1980, agriculture supplied 70 percent of employment.
"GDP growth (annual %) World Bank national accounts data, and OECD National Accounts data files.." [Online].
The state (and its bureaucrats) dominated capital allocation in the kingdom.
, Thailand was ranked as the world's third most unequal nation, behind Russia and India, in the Credit Suisse Global Wealth Databook 2016 (companion volume to the Global Wealth Report 2016[failed verification]), with one percent of the Thai population estimated to own 58 percent of Thailand's wealth. The country still did not elaborated regulation for ICOs, though it announced in late 2018 to loosen the rules. The government tried to solve the problem by establishing a rice office to oversee the rice trade.
Due to low international reserves from the Bank of Thailand's currency-protection measures, the government had to accept a loan from the International Monetary Fund (IMF).
The 2004 Financial Sector Reform Master Plan provides tax breaks to financial institutions engaging in mergers and acquisitions.
His policy was later called Thaksinomics.
The sector employed approximately 417,000 workers in 2015, representing 6.5 per cent of total employment across all manufacturing industries and accounting for roughly 10 percent of the country's GDP.
Accessed November 04, 2020. https://www.statista.com/statistics/1049510/thailand-gdp-component-breakdown/, Deloitte. This feature is limited to our corporate solutions.  In the same period, the volume of Thai exports of goods and services had an average growth rate of 14.8 percent, with a peak of 26.1 percent in 1988. The economy of Isan is dominated by agriculture, although output is poor and this sector is decreasing in importance at the expense of trade and the service sector.
Thailand is a net importer of oil and natural gas; however, the government is promoting ethanol to reduce imports of petroleum and the gasoline additive methyl tertiary butyl ether.
He again turned to the US, asking for economic rather than military aid. He said that the policy would promote connectivity and regional economic development on a sustainable basis. During Thaksin's first term, Thailand's economy regained momentum and the country paid its IMF debt by July 2003 (two years ahead of schedule). , Another problem was foreign speculation.
However, most wealth and investment is concentrated in the four major cities of Khorat, Ubon, Udon, and Khon Kaen.
:27, As of 2020[update], Thailand is the largest exporter of computers and computer components in ASEAN. Large multinational and national retail players (such as Tesco Lotus, 7-Eleven, Siam Makro, Big C, Villa Market, Central Group and Mall Group) are estimated to employ fewer than 400,000 workers.
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NESDC Secretary-General Porametee Vimolsiri said that the growth was due to the effect of governmental policies. In 2006, Thaksin dissolved the parliament and called for a general election. Source: Adapted from the IMF's World Economic Outlook Database, April 2012. , A joint study by the Quality Learning Foundation (QLF), Dhurakij Pundit University (DPU), and the World Bank suggests that 12 million Thais may lose their jobs to automation over the next 20 years, wiping out one-third of the positions in the workforce.
Within a few months, the value of the baht floated from THB25/US$ (its lowest point) to THB56/US$. After the 1984 baht devaluation and the 1985 Plaza Accord, a significant amount of foreign direct investment (mainly from Japan) raised the average growth rate per year to 8.8 percent from 1985 to 1996 before slumping to −5.9 percent per year from 1997 to 1998. Thailand's unemployment rate was 0.9 percent as of 2014, down from two percent in 2004.
One direct effect was that Prime Minister Chavalit Yongchaiyudh resigned under pressure on 6 November 1997, succeeded by opposition leader Chuan Leekpai. Agriculture Agricultural development has played a major role in the transformation of Thailand’s economy . According to the IMF, in 2012 Thailand ranked 92nd in the world in its nominal GDP per capita. In 2005 and 2006, agricultural GDP was reported to have contracted by 10 percent.
The Thai government and its supporters maintained that with these measures, the Thai economy improved. The reform program has been deemed successful by outside experts. On 2 December the Thai Constitutional Court issued a decision dissolving the People's Power Party, ousting Somchai Wongsawat as prime minister. , Thailand is one of countries with the lowest unemployment rates in the world, reported as one percent for the first quarter of 2014. Those who were heavily indebted might sell themselves as slaves. Below is a table showing the trend of Thai gross domestic product (GDP) from 1980 to 2012: Source: With the exception of the 2012 data, all data above are from the IMF's World Economic Outlook Database (April 2013).  In 2008, agriculture, forestry and fishing contributed 8.4 percent to GDP; in rural areas, farm jobs supply half of employment.
Deloitte. With the Vietnamese occupation of Cambodia on 25 December 1978, Thailand became the front-line state in the struggle against communism, surrounded by three communist countries and a socialist Burma under General Ne Win. The 1966 US-Thailand Treaty of Amity and Economic Relations provides exemption of these restrictions for shareholders with United States citizenship.. You can only download this statistic as a Premium user. When the capital of the kingdom moved to Bangkok during the 19th century, foreign trade (particularly with China) became the focus of the government.  The Thai economy is expected to post 3.8% growth in 2019. Thailand's four oil refineries have a combined capacity of 703,100 barrels per day (111,780 m3/d).
The government is considering a regional oil-processing and transportation hub serving south-central China.
In 2014, the government launched a pilot project to set up six special economic zones in five provinces: Tak, Mukdahan, Sa Kaeo, Songkhla, and Trat.
The construction and mining sector adds 4.3 percent to the country's gross domestic product.
Recovery from financial crisis depended heavily on increased exports to the rest of Asia and the United States. Since 2007, the country has faced a number of challenges: a military coup in late 2006, political turmoil from 2008 to 2011, the US financial crisis reaching its peak from 2008 to 2009, floods in 2010 and 2011, and the 2012 Eurozone crisis.  Thailand 4.0 is described as an economy driven by high-tech industries and innovation that will lead to the production of value-added products and services. ", The government narrative describes Thailand 1.0 as the agrarian economy of Thailand decades ago. The following year, 56 financial institutions were closed by the government.
", Deloitte, GDP component breakdown in Thailand in 2019 (in percentage)* Statista, https://www.statista.com/statistics/1049510/thailand-gdp-component-breakdown/ (last visited November 04, 2020), GDP component breakdown in Thailand in 2019 (in percentage)*, Life expectancy at birth in Thailand 2018, Life expectancy at birth in Thailand 2018, by gender, Median age of the population in Thailand 2015, Gross domestic product (GDP) in Thailand 2021, Gross domestic product (GDP) per capita in Thailand 2024, Gross domestic product (GDP) growth rate in Thailand 2021, Thailand: Share in global GDP adjusted for PPP 2024, Share of economic sectors in the GDP in Thailand 2019, Employment by economic sector in Thailand 2019, National debt of Thailand in relation to gross domestic product (GDP) 2024, Ratio of military expenditure to gross domestic product (GDP) in Thailand 2018, Ratio of government expenditure to gross domestic product (GDP) in Thailand 2024, Thailand's budget balance in relation to GDP 2021, Total population of the ASEAN countries from 2008 to 2018, Life expectancy at birth in the ASEAN countries 2018, Gross domestic product of the ASEAN countries from 2010 to 2020, Gross domestic product (GDP) per capita in the ASEAN countries 2018, Inflation rate in the ASEAN countries 2020, Trade balance of goods in the ASEAN countries 2019, Cumulative cases of COVID-19 worldwide from January 8 to November 1, 2020, by day, GDP annual growth rate in the EU 2013-2021, GVA impact from COVID-19 on India 2019-2020 by sector, Global fiscal balance after coronavirus 2018-2020, by economic group, Global fiscal balance after coronavirus 2018-2021, Change in global fiscal balance forecasts due to coronavirus 2020, by economic group, Change in global fiscal balance forecasts due to coronavirus 2020, COVID-19: impact on Spanish GDP forecast by 2020-2022 scenario, United Kingdom (UK) National Accounts receipts as share of GDP forecast 2018/19, France: Gross domestic product (GDP) 2014-2020, Top ten countries worldwide with highest GDP in 2050, Gibraltar (UK): gross domestic product (GDP) per head from 2006/2007 to 2015/2016, Gibraltar (UK): GDP at factor cost from 2006/2007 to 2015/2016, Top ten counties worldwide with greatest average annual GDP growth 2016-2050, Average current account balance as share of GDP in selected MENA countries 2015-2019, Current budget deficit as share of GDP forecast UK 2017-2024, GDP contribution of agriculture, forestry and fishing in Vietnam 2010-2019, GDP contribution of manufacturing in Vietnam 2015-2019, GDP value of agriculture, forestry and fishing in Vietnam 2010-2019, GDP value of transportation and storage in Vietnam 2015-2019, Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre.
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