conomy - overview: One of the more advanced developing countries in
Asia, Thailand depends on exports of manufactures - including
high-technology goods - and the development of the service sector to
fuel the country's rapid growth, averaging 9% since 1989. Most of
Thailand's recent imports have been for capital equipment and raw
materials, although imports of consumer goods are beginning to rise.
Thailand's 35% domestic savings rate is a key source of capital for
the economy, and the country is also benefiting from rising investment
from abroad. Prime Minister CHAWALIT's government - Thailand's seventh
government in six years - will continue Bangkok's probusiness policies
and reemphasize Bangkok's traditional fiscal austerity. CHAWALIT is
beginning to address Thailand's serious infrastructure bottlenecks,
especially in the transport and telecommunications sectors. Over the
longer term, Bangkok must produce more college graduates with
technical training 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 appliances and components, integrated circuits, furniture,
plastics; world's second-largest tungsten 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 materials 5%, fuels 1%
partners : US 21.0%, Japan