ws. The government has
followed a fairly sound fiscal and monetary policy, aided by increased
tax receipts from the fast-moving economy. In 1989 the government
approved new projects--roads, ports, electric power,
communications--needed to refurbish the now overtaxed infrastructure.
Although growth in 1990-91 must necessarily fall below the 1988-89 pace,
Thailand's immediate economic outlook is good, assuming the continuation
of prudent government policies in the context of a
private-sector-oriented development strategy.

GNP: $64.5 billion, per capita $1,160; real growth rate 10.8% (1989 est.)

Inflation rate (consumer prices): 5.4% (1989)

Unemployment rate: 6% (1989 est.)

Budget: revenues $12.1 billion; expenditures $9.7 billion,
including capital expenditures of NA (FY89)

Exports: $19.9 billion (f.o.b., 1989); commodities--textiles
12%, fishery products 12%, rice 8%, tapioca 8%, jewelry 6%,
manufactured gas, corn, tin;
partners--US 18%, Japan 14%, Singapore 9%, Netherlands, Malaysia,
Hong Kong, China (1988)

Imports: $25.1 billion (c.i.f., 1989); commodities--machinery and
parts 23%, petroleum products 13%, chemicals 11%, iron and steel, electrical
appliances;
partners--Japan 26%, US 14%, Singapore 7%, FRG, Malaysia, UK (1987)

External debt: $18.5 billion (December 1989 est.)

Industrial production: growth rate 12.5% (1989)

Electricity: 7,100,000 kW capacity; 28,000 million kWh produced,
500 kWh per capita (1989)

Industries: tourism is the largest source of foreign exchange; textiles
and garments, agricultural processing, beverages, tobacco, cement, other light
manufacturing, such as jewelry; electric appliances and components, integrated
circuits, furniture, plastics; world's second-largest tungsten producer and
third-largest tin producer

Agriculture: accounts for 16% of GNP and 73% of labor force; leading
producer and exporter of rice and cassava (tapioca); other crops--rubber, corn,
sugarcane, coconuts, soybeans; except for wheat, self-sufficient in food; fish
catch of 2.2 million tons (1987)

Illicit drugs: a minor producer, major illicit trafficker of heroin,
particularly from Burma and Laos, and cannabis for the international drug
market; eradication efforts have reduced the area of cannabis cultivation and
shifted some production to neighboring countries; opium poppy cultivation has
been affected by eradication efforts, but unusually good weather
boosted output in 1989

Aid: US commitme