Economy - overview After enjoying the world's highest growth rate from 1985 to 1995 - averaging almost 9% annually - increased speculative pressure on Thailand's currency in 1997 led to a crisis that uncovered financial sector weaknesses and forced the government to float the baht. Long pegged at 25 to the dollar, the baht reached its lowest point of 56 to the dollar in January 1998 and the economy contracted by 10.2% that same year. Thailand entered a recovery stage in 1999, expanding 4.2% and grew 4.4% in 2000, largely due to strong exports - which increased about 20% in 2000. An ailing financial sector and the slow pace of corporate debt restructuring, combined with a softening of global demand, however, slowed growth in 2001 to 1.4%.

GDP purchasing power parity - $410 billion (2001 est.)

GDP - real growth rate 1.4% (2001 est.)

GDP - per capita purchasing power parity - $6,600 (2001 est.)

GDP - composition by sector
agriculture: 11%
industry: 40%
services: 49% (2001)

Population below poverty line 12.5% (1998 est.)

Household income or consumption by percentage share
lowest 10%: 2.8%
highest 10%: 32.4% (1998)

Distribution of family income - Gini index 41.4 (1998)

Inflation rate (consumer prices) 1.6% (2001)

Labor force 33.4 million (2001 est.)

Labor force - by occupation agriculture 54%, industry 15%, services 31% (1996 est.)

Unemployment rate 3.9% (2001 est.)

Budget
revenues: $19 billion
expenditures: $21 billion, including capital expenditures of $NA (2000 est.)

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

Industrial production growth rate 3% (2000 est.)

Electricity - production 94.314 billion kWh (2000)

Electricity - production by source
fossil fuel: 92.26%
hydro: 6.33%
other: 1.41% (2000)
nuclear: 0%

Electricity - consumption 90.261 billion kWh (2000)

Electricity - exports 151 million kWh (2000)

Electricity - imports 2.7 billion kWh (2000)

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

Exports $65.3 billion (f.o.b., 2001 est.)

Exports - commodities computers, transistors, seafood, clothing, rice

Exports - partners US 23%, Japan 14%, Singapore 8%, China 6%, Hong Kong 5%, Malaysia 4% (2000)

Imports $62.3 billion (f.o.b., 2001 est.)

Imports - commodities capital goods, intermediate goods and raw materials, consumer goods, fuels

Imports - partners Japan 24%, US 11%, Singapore 10%, Malaysia 6%, China 4%, Taiwan 4% (2000)

Debt - external $69.4 billion (2001 est.)

Economic aid - recipient $131.5 million (1998 est.)

Currency baht (THB)

Currency code THB

Exchange rates baht per US dollar - 43.982 (January 2002), 43.432 (2001), 40.112 (2000), 37.814 (1999), 41.359 (1998), 31.364 (1997)

Fiscal year 1 October - 30 September

NOTE: The information regarding Thailand on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Thailand Economy 2002 information contained here. All suggestions for corrections of any errors about Thailand Economy 2002 should be addressed to the CIA.