d developing countries in Asia, depends on exports of manufactures
and the development of the service sector to fuel the country's rapid
growth. The trade and current account deficits fell in 1992; much of
Thailand's recent imports have been for capital equipment suggesting that
the export sector is poised for further growth. With foreign investment
slowing, Bangkok is working to increase the generation of capital
domestically. Prime Minister CHUAN's government - Thailand's fifth
government in less than two years - is pledged to continue Bangkok's
probusiness policies, and the return of a democratically elected government
has improved business confidence. Nevertheless, CHUAN must overcome
divisions within his ruling coalition to complete much needed infrastructure
development programs if Thailand is to remain an attractive place for
business investment. Over the longer-term, Bangkok must produce more college
graduates with technical training and upgrade workers' skills to continue
its rapid economic development.
National product:
GDP - exchange rate conversion - $103 billion (1992 est.)
National product real growth rate:
7% (1992 est.)
National product per capita:
$1,800 (1992 est.)
Inflation rate (consumer prices):
4.5% (1992 est.)
Unemployment rate:
4.7% (1992 est.)
Budget:
revenues $21.36 billion; expenditures $22.40 billion, including capital
expenditures of $6.24 billion (FY93 est.)
Exports:
$32.9 billion (f.o.b., 1992)
commodities:
machinery and manufactures 76.9%, agricultural products 14.9%, fisheries
products 5.9% (1992)
partners:
US 21.6%, Japan 18.0%, Singapore 8.7%, Hong Kong 4.8%, Germany 4.4%,
Netherlands 4.2%, UK 3.4%, Malaysia, France, China (1992 est.)
Imports:
$41.5 billion (c.i.f., 1992)
commodities:
capital goods 41.4%, intermediate goods and raw materials 32.8%, consumer
goods 10.4%, oil 8.2%
partners:
Japan 29.3%, US 11.4%, Singapore 7.6%, Taiwan 5.5%, Germany 5.4%, South
Korea 4.6%, Malaysia 4.2%, China 3.3%, Hong Kong 3.3%, UK (1992 est.)
External debt:
$33.4 billion (1991)
Industrial production:
growth rate 18% (1990); accounts for about 26% of GDP
Electricity:
10,000,000 kW capacity; 43,750 million kWh produced, 760 kWh per capita
(1992)

*Thailand, Economy

Industries:
tourism is the largest source of foreign exchange; textiles and garments,
agricultural processing, beverages, tobacco, cement, ligh