Country Details
Thailand
Southeastern Asia, bordering the Andaman Sea and the Gulf of Thailand, southeast of Burma
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Economy
Detailed information and insights
Economic overview
upper middle-income Southeast Asian economy; substantial infrastructure; major electronics, food, and automobile parts exporter; globally used currency; extremely low unemployment; ongoing Thailand 4.0 economic development
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024
$1.558 trillion (2024 est.)
Real GDP (purchasing power parity) 2023
$1.519 trillion (2023 est.)
Real GDP (purchasing power parity) 2022
$1.489 trillion (2022 est.)
Real GDP growth rate
Real GDP growth rate 2024
2.5% (2024 est.)
Real GDP growth rate 2023
2% (2023 est.)
Real GDP growth rate 2022
2.6% (2022 est.)
Real GDP per capita
Real GDP per capita 2024
$21,700 (2024 est.)
Real GDP per capita 2023
$21,200 (2023 est.)
Real GDP per capita 2022
$20,800 (2022 est.)
GDP (official exchange rate)
$526.411 billion (2024 est.)
Note
note: data in current dollars at official exchange rate
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2024
1.4% (2024 est.)
Inflation rate (consumer prices) 2023
8.5% (2023 est.)
Inflation rate (consumer prices) 2022
-1.6% (2022 est.)
GDP - composition, by sector of origin
Agriculture
8.7% (2024 est.)
Industry
32.1% (2024 est.)
Services
59.2% (2024 est.)
GDP - composition, by end use
Household consumption
58.2% (2024 est.)
Government consumption
16.7% (2024 est.)
Investment in fixed capital
22.2% (2024 est.)
Investment in inventories
-0.6% (2024 est.)
Exports of goods and services
70.1% (2024 est.)
Imports of goods and services
-66.7% (2024 est.)
Agricultural products
sugarcane, rice, cassava, oil palm fruit, maize, rubber, tropical fruits, chicken, mangoes/guavas, fruits (2023)
Note
note: top ten agricultural products based on tonnage
Industries
tourism, textiles and garments, agricultural processing, beverages, tobacco, cement, light manufacturing such as jewelry and electric appliances, computers and parts, integrated circuits, furniture, plastics, automobiles and automotive parts, agricultural machinery, air conditioning and refrigeration, ceramics, aluminum, chemical, environmental management, glass, granite and marble, leather, machinery and metal work, petrochemical, petroleum refining, pharmaceuticals, printing, pulp and paper, rubber, sugar, rice, fishing, cassava, world's second-largest tungsten producer and third-largest tin producer
Industrial production growth rate
0.9% (2024 est.)
Note
note: annual % change in industrial value added based on constant local currency
Labor force
40.623 million (2024 est.)
Note
note: number of people ages 15 or older who are employed or seeking work
Unemployment rate
Unemployment rate 2024
0.7% (2024 est.)
Unemployment rate 2023
0.8% (2023 est.)
Unemployment rate 2022
1% (2022 est.)
Youth unemployment rate (ages 15-24)
Total
4.3% (2024 est.)
Male
3.1% (2024 est.)
Female
6% (2024 est.)
Population below poverty line
5.4% (2022 est.)
Note
note: % of population with income below national poverty line
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2023
33.5 (2023 est.)
Average household expenditures
On food
25.9% of household expenditures (2023 est.)
On alcohol and tobacco
3% of household expenditures (2023 est.)
Household income or consumption by percentage share
Lowest 10%
3.4% (2023 est.)
Highest 10%
26.1% (2023 est.)
Remittances
Remittances 2024
1.8% of GDP (2024 est.)
Remittances 2023
1.9% of GDP (2023 est.)
Remittances 2022
1.8% of GDP (2022 est.)
Budget
Revenues
$102.84 billion (2023 est.)
Expenditures
$114.521 billion (2023 est.)
Public debt
Public debt 2023
61.1% of GDP (2023 est.)
Taxes and other revenues
15.4% (of GDP) (2023 est.)
Note
note: central government tax revenue as a % of GDP
Current account balance
Current account balance 2024
$11.089 billion (2024 est.)
Current account balance 2023
$7.412 billion (2023 est.)
Current account balance 2022
-$17.162 billion (2022 est.)
Exports
Exports 2024
$369.191 billion (2024 est.)
Exports 2023
$337.45 billion (2023 est.)
Exports 2022
$324.111 billion (2022 est.)
Exports - partners
USA 18%, China 13%, Japan 7%, Australia 4%, Singapore 4% (2023)
Note
note: top five export partners based on percentage share of exports
Exports - commodities
machine parts, integrated circuits, trucks, cars, broadcasting equipment (2023)
Note
note: top five export commodities based on value in dollars
Imports
Imports 2024
$351.419 billion (2024 est.)
Imports 2023
$327.008 billion (2023 est.)
Imports 2022
$334.44 billion (2022 est.)
Imports - partners
China 26%, Japan 11%, USA 7%, UAE 6%, Taiwan 5% (2023)
Note
note: top five import partners based on percentage share of imports
Imports - commodities
crude petroleum, integrated circuits, natural gas, gold, vehicle parts/accessories (2023)
Note
note: top five import commodities based on value in dollars
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2024
$236.934 billion (2024 est.)
Reserves of foreign exchange and gold 2023
$224.47 billion (2023 est.)
Reserves of foreign exchange and gold 2022
$216.501 billion (2022 est.)
Debt - external
Debt - external 2023
$37.065 billion (2023 est.)
Exchange rates
Currency
baht per US dollar -
Exchange rates 2024
35.294 (2024 est.)
Exchange rates 2023
34.802 (2023 est.)
Exchange rates 2022
35.061 (2022 est.)
Exchange rates 2021
31.977 (2021 est.)
Exchange rates 2020
31.294 (2020 est.)