The Thai economy for 2010 is forecasted to expand at 7 percent per year, given continued expansionary fiscal policy from late 2009 particularly from public expenditures under the “Strong Thailand 2012” program as well as the revival of private expenditures from the low base in 2009. Meanwhile, export of goods and services in 2010 is forecasted to expand as the economies of Thailand’s major trading partners recover. As for internal economic stability, inflation is projected to rise to 2.5 percent per year (or within the range of 2.0 - 3.0 percent per year), following increasing oil price compared to 2009. For external stability, current account in 2010 is projected to record a smaller surplus of 4.0 percent of GDP (or within the range of 3.7 - 4.6 percent of GDP), as the revival in domestic demand would lead to faster expansion of import value than export value. Details of the economic forecasts are as follows:
Located at the heart of Asia, Thailand serves as a gateway to Southeast Asia and the Greater Mekong sub-region, where newly emerging markets offer great business potential. From Thailand, it is convenient to trade with China, India and the countries of the Association of Southeast Asian Nations (ASEAN), which has a cumulative population of more than 575 million.
Regarding the infrastructure development, most of it has been responsive to demand rather than forward-looking.
Replacement and improvement of the Transport, Electricity/Energy, Telecommunication and Water infrastructures will play a crucial role in economic development and enrichment of living standards.
According to the UNCTAD World Investment Prospects Survey 2007/2009, Thailand is ranking 11th of the most attractive Economies for the location of FDI.
www.doingbusiness.org, www.boi.go.th, www.worldbank.org
Thailand has a balanced, open and dynamic economy. 2nd in South-East Asia (after Indonesia), its 2009 GDP decline to USD 266.4 billion by 2.9%.
Tourism makes a major contribution to Thai economy with over 14 million tourists visiting the kingdom (7% of the GDP). Thailand is also the world’s no.1 exporter of rice (6.5 million tons per year) as well as rubber.
However, imports kept rising in consumer goods, raw materials, capital goods and fuel.
Area: 514,000 square km
Population: 65.9 million of inhabitants
Administrative organization: 76 provinces with 23 cities (nakhon) and 118 towns (mueang)
Largest cities: Bangkok, Nonthaburi, Pak Kret, Hat Yai, Chiang Mai, Nakhon Ratchasima, Udon Thani.
Urban areas: 25 urban areas of over 50,000 inhabitants
Transportation: 45 airports, 4,071 km of railways, 180,053 km of roadways, 3,701 km of waterways, 4 ports.
Currency: Thai Baht (THB), 1EUR = 42.4774 THB, 1 USD = 29.8019 THB (05/11/2010)
Currently beeing updated.