| 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, high investment spending, 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 2004 Thailand and the United States began negotiations on a Free Trade Agreement. 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. Growth slowed to 4.6% in 2005. The downturn can be attributed to high oil prices, weaker demand from Western markets, severe drought in rural regions, tsunami-related declines in tourism, and lower consumer confidence. Moreover, the THAKSIN adminitration's expansionist economic policies, including multi-billion-dollar mega-projects in infrastructure and social development, has raised concerns about fiscal discipline and the health of financial institutions. On the positive side, the Thai economy performed well beginning in the third quarter of 2005. Export-oriented manufacturing - in particular automobile production - and farm output are driving these gains. In 2006 the economy should benefit from an influx of investment and stronger private consumption, however, a possible avian flu epidemic could significantly harm economic prospects throughout the region. |
| GDP - per capita | $8,300 (2005 est.) |
| GDP - real growth rate (%) | 4.6% (2005 est.) |
| Agriculture - products | rice, cassava (tapioca), rubber, corn, sugarcane, coconuts, soybeans |
| GDP - composition by sector (%) | agriculture: 9.3%, industry: 45.1%, services: 45.6% (2005 est.) |
| Industries | tourism, textiles and garments, agricultural processing, beverages, tobacco, cement, light manufacturing such as jewelry, electric appliances and components, computers and parts, integrated circuits, furniture, plastics, automobiles and automotive parts, world's second-largest tungsten producer, and third-largest tin producer |
| Economic aid - recipient | $72 million (2002) |
| Debt - external | $50.63 billion (30 June 2005 est.) |
| Population below poverty line (%) | 10% (2004 est.) |
| Labor force - by occupation (%) | agriculture 49%, industry 14%, services 37% (2000 est.) |
Environment, Land use / Resources, Economy, Population / Demographics, Infrastructure, Health -- CIA World Factbook, 2005
