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Home > Country Profiles > Thailand

Country Profiles

Financial Outlook

The economy slowed significantly in early 2013 after growing by 6.5% in 2012, according to the IMF. Tourism, a key source of foreign exchange, was one of the few bright spots, with visitors to Bangkok rising by 46%. Anti-government protests grew in strength from November 2013 and undermined economic growth. In October 2013 the Asian Development Bank reduced its 2013 GDP growth estimate for the country from 4.9% to 3.8%, and in December Thailand’s finance ministry cut its own forecast for 2014 to 4% from 5.1%, cautioning that GDP growth could fall as low as 3.5% if the unrest continued. Political uncertainty and street clashes are hurting tourism, delaying infrastructure spending, and affecting consumer confidence, which fell to a two-year low in December 2013. Between November and the end of the year, nearly US$4bn left the country as investors rushed to sell off Thai assets and currency.

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Statistics

GDP growth: 4% (IMF, 2011 est.)

GDP per capita: US$8,100 (2009 est.)

CPI: 3% (official, 2011)

Key interest rate: 1.50% (central bank, July 2010)

Exchange rate versus US dollar: B31.663 (2010)*

Unemployment: 1.6% (2009 est.)

FDI: US$117.9 billion (December 2010 est.)

Current account surplus: US$12.29 billion (2010 est.)

Population: 66,720,153 (July 2011 est.)

* Thai baht

Source: CIA World Factbook except where stated

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Further reading on Thailand

Websites:

  • Board of Investment (BOI): www.boi.go.th
  • One Start One Stop Investment Center (OSOS), part of the BOI: osos.boi.go.th
  • ThaiTrade.com, from the Department of International Trade Promotion (DITP), part of the Ministry of Commerce (MOC): www.thaitrade.com

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