205-4131
consulate(s) general: Chiang Mai

Flag description:
five horizontal bands of red (top), white, blue (double width),
white, and red

Economy Thailand

Economy - overview:
With a well-developed infrastructure, a free-enterprise economy,
and pro-investment policies, Thailand appears to have fully
recovered from the 1997-98 Asian Financial Crisis. The country was
one of East Asia's best performers in 2002-04. Boosted by increased
consumption and strong export growth, the Thai economy grew 6.9% in
2003 and 6.1% in 2004 despite a sluggish global economy. Bangkok has
pursued preferential trade agreements with a variety of partners in
an effort to boost exports and to maintain high growth. In late
December 2004, a major tsunami took 8,500 lives in Thailand and
caused massive destruction of property in the southern provinces of
Krabi, Phangnga, and Phuket. In 2006, investment stagnated as
investors, spooked by the Thaksin administration's political
problems, stayed on the sidelines. The military coup in September
brought in a new economic team, led by the former central bank
governor. In December, the Thai Board of Investment reported the
value of investment applications from January to November had
declined by 27% year-on-year. On the positive side, exports have
performed at record levels, rising nearly 17% in 2006.
Export-oriented manufacturing - in particular automobile production
- and farm output are driving these gains.

GDP (purchasing power parity):
$585.9 billion (2006 est.)

GDP (official exchange rate):
$196.6 billion (2006 est.)

GDP - real growth rate:
4.4% (2006 est.)

GDP - per capita (PPP):
$9,100 (2006 est.)

GDP - composition by sector:
agriculture: 10%
industry: 44.9%
services: 45.2% (2006 est.)

Labor force:
36.41 million (2006 est.)

Labor force - by occupation:
agriculture: 49%
industry: 14%
services: 37% (2000 est.)

Unemployment rate:
2.1% (2006 est.)

Population below poverty line:
10% (2004 est.)

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

Distribution of family income - Gini index:
51.1 (2002)

Inflation rate (consumer prices):
5.1% (2006 est.)

Investment (gross fixed):
28.7% of GDP (2006 est.)

Budget:
revenues: $40.31 billion
expenditures: $40.34 billion; including capital expenditures of $5
billion (2006 est