Thailand itself is a newly industrialized country, with a GDP of 17.367 trillion baht (US$536 billion) in 2022, the 9th largest economy of Asia. Other ASEAN nations were ranked: Indonesia, 2; Philippines, 3; Vietnam, 4; Malaysia, 8; Myanmar, 17. Thailand economic indicators | TheGlobalEconomy.com The country's labor force stands at 39.41 million with a 0.9% unemployment rate. Multiple Indicator Cluster Survey 2016 (14 Provinces), Round 5. Chulalongkorn University was ranked number one in Thailand and 45th in Asia in 2016. This page in: DataBank Microdata Data Catalog. We have a plan for your needs. Singapore had the lowest homicide rate in ASEAN, with just 0.25 murders per 100,000 population. The World Competitiveness Ranking is based on 336 competitiveness criteria selected as a result of comprehensive research using economic literature, international, national, and regional sources, and feedback from the business community, government agencies, and academics. Economy of Thailand - Wikipedia All maps, graphics, flags, photos and original descriptions 2023 worldatlas.com, Thailand Animals - Animals That Live in Thailand. Please check your download folder. Find out more about our work towards the Sustainable Development Goals. The index has a base value of 100 as of 2000. White label accounts can distribute our data. FinanceAsia for the second year running has ranked the finance ministers of the Asia-Pacific region's 12 largest economies. Thailand became an upper-middle income economy in 2011. All Rights Reserved. We have a plan for your needs. International Comparison Program & Purchasing Power Parity. According to Romanian internet security software firm. 2023 by The Heritage Foundation. Thailand Inflation. Overview Data Data Project Socio-economic Reintegration Project Make the best decisions about the future of your business with the most reliable economic intelligence. In 2021, the manufacturing sector contributed to Thailand's gross domestic product (GDP) the most with approximately 4.4 trillion Thai baht . Direct access to our data from your apps using any programing language. Thailand, in a 2017 survey, ranked 18 of 55 nations (1=most desirable; 55=least desirable) in a ranking by expats of their favoured destinations. The Thai baht (THB) is Thailands currency, used by some of its neighbors including Laos, Myanmar, and Cambodia. var. Other ASEAN nations ranked were: Indonesia, 3; Philippines, 10; Vietnam, 13; Myanmar, 22; Malaysia, 44; Cambodia, 62; Laos, 79; and Singapore, 116. Thailand Competitiveness Rank 2023 Data - 2024 Forecast - TRADING ECONOMICS Trading Economics welcomes candidates from around the world. The overall rank of Thailand and the World Economy is 22660. A WHOUNICEFLancet Commission", "U.S. HAS HIGHEST PROPORTION OF CLIMATE DENIERS, SURVEY OF 28 COUNTRIES FINDS", "Most people expect to feel the effects of climate change, and many think it will make us extinct", "New Analysis Shows Global Exposure to Sea Level Rise", "Ranking Port Cities with High Exposure and Vulnerability to Climate Extremes: Exposure Estimates", "The Global Competitiveness Report 2015-2016", "The 2016 IMD World Competitiveness Scorecard", "Thailand rises to 28th in world competitiveness", "Five challenges to raise competitiveness: IMD", "Thailand Drops in Competitiveness Rankings", "The World Competitiveness Scorecard 2014", "Prayuth's junta to disband in uniquely Thai ritual", "Survey says Asia is most expensive region for expats", "Cost of Living Index for Country 2015 Mid Year", "Thailand has had more coups than any other country. In 2019, the GDP contribution of private consumption was estimated at 49 percent in Thailand . Find out what the UN in Thailand is doing towards the achievement of the Sustainable Development Goals. Income inequality and corruption are major concerns in Thailand. Thailand's political catch-2023 | East Asia Forum The Economy Of Thailand - WorldAtlas Thailand ranked 19th of 133 nations in "total available military manpower reaching service age annually" (1=most, 133=fewest). Labor regulations are relatively flexible, but informal labor activity remains substantial. Thailand Rank; GDP: $505B: 26: GDP growth, 1 year: 4.1%: 64: GDP growth, 5-years average: . Thailand ranked 30 of 216 countries for its number of homicides (2,387) in 2015. Thailand | GDP | 2023 | Economic Data | World Economics Thailand: Economy | Asian Development Bank Thailands economic freedom score is 60.6, making its economy the 80th freest in the 2023 Index. Learn about employment opportunities across the UN in Thailand. Thailand has an estimated headline inflation of 3.02% and 13.15% of the population in 2011 lived below the poverty line. White label accounts can distribute our data. Now is also the time, however, for Thailand to reorient its course of development an opportunity for the country to emerge stronger and more equitable than before. Thailand Economy: GDP, Inflation, CPI & Interest Rates - FocusEconomics International Comparison Program & Purchasing Power Parity. The agricultural sector is dominated by produce such as rice, corn, sugarcane, coconuts, and rubber. Three-year government spending and budget balance averages are, respectively, 24.8 percent and 4.2 percent of GDP. Standard users can export data in a easy to use web interface or using an excel add-in. Inflation should ease further this year, pushed down by higher interest rates. The countrys imports in 2015 were valued at $202.65 billion. Published by Statista Research Department , Mar 1, 2023. Data are in current U.S. dollars. In welcome news, inflation is expected to ease this year as food and energy prices stabilize following a sharp increase in living costs in 2022. In February 2020, a commission composed of the. Trading Economics welcomes candidates from around the world. Accounting for inequality, Thailands HDI declines by 16.9 per cent to 0.635. The country ranks the worlds 22nd largest export economy. Malaysia comes in second at 41.0, followed by Indonesia at 39.0 on the GINI index. Monetary stability has been maintained despite inflationary pressure. Thailand is an emerging market with the highest progress in the world from 2013 to 2018, up by 12 ranks, reflecting continued improvements in life expectancy at birth, years of schooling and income per capita. Quick Facts. Donate to the Sustainable Development Goals Fund! It thus fell below the Bank of Thailands 1.03.0% target and marked the weakest reading since August 2021. Over the last four decades, Thailand has made remarkable progress in social and economic development, moving from a low-income country to an upper-income country in less than a generation. The Bloomberg Innovation Index, 2017 ranked Thailand 44 of 50 nations (1=most innovative; 50=less innovative), a rise from 47 in the 2016 ranking. White label accounts can distribute our data. Thailand gdp for 2018 was $506.75B, a 11.04% increase from 2017. In this respect, UNDP, together with other public and private development actors, has conducted hackathons, bringing youth together to form innovative solutions to address the socioeconomic impacts of COVID-19. Country Rankings OVERALL SCORE 83.9 -0.5 WORLD RANK 1 #1 Singapore Read More About Singapore Singapore's economic freedom score is 83.9, making its economy the world's freest in the 2023. We have a plan for your needs. Other ASEAN nations ranked were Singapore, 6 of 50 and Malaysia, 23 of 50. UNDP, along with the rest of the UN system, has supported the national COVID-19 response in the following four areas to prepare for, respond to and recover from this pandemic while safeguarding progress towards the SDGs. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Largest economies in the world by GDP (nominal) in 2023 according to International Monetary Fund estimates [n 1] [1] Countries by nominal GDP in 2019 [n 2] > $20 trillion $10-20 trillion $5-10 trillion $1-5 trillion $750 billion - $1 trillion $500-750 billion $250-500 billion $100-250 billion $50-100 billion $25-50 billion $5-25 billion In addition to the immediate relief package, authorities aim to emphasize local-level economic rehabilitation, target job creation, and continue supporting sustainable sectors such as the Bio-Circular-Green (BCG) economy an initiative started before COVID-19. Thailand GDP Per Capita 1960-2023 | MacroTrends The government influences prices through subsidies and other measures. If not addressed, a new generation of inequalities could emerge, leaving more people even further behind. The economy of Thailand is estimated by World Economics to be over 46% larger than official data suggests and is currently the world's 21st biggest economy. All citizens now and in the future should have a fair and dignified lot in life, powered by technology, shielded from pandemics and other disasters, and protected from an increasingly unforgiving climate. According to SCImago Journal Rank (SJR), this journal is ranked 0.140. Merchandise exports declined 4.6% in annual terms in May (April: -7.6% year-on-year). Thailands fiscal year runs from October 1st to September 30th the following year. Thailand is ranked 18th on account of the ease of doing business. Such initiatives are welcome, and more steps need to be taken to transition towards an inclusive, sustainable growth path. It is known for its beautiful beaches and nature, the hospitality of the people, and its rich. Although poverty levels have been on a downward trajectory in the country, the North, Northeast, and the Deep South rural communities have been subjected to disproportional levels of poverty. Current job openings: Download historical data for 20 million indicators using your browser. 4.60. With no minimum capital requirement, the process for starting a business has been streamlined. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. BOI : The Board of Investment of Thailand Moreover, Thailands income gap has improved over time, as the GINI index dropped to 36.4 in 2018 from 47.9 in 1992. Thailand GDP 2023 Data - 2024 Forecast - 1960-2022 Historical - Chart Meanwhile, merchandise imports decreased 3.4% over the same Manufacturing production increased 3.1% month-on-month in seasonally-adjusted terms in May (April: -3.8% mom). In parallel, UNDP is providing support to the government in capacity enhancement using digital tools and platforms. In a 2017 report published by the UK firm. Thailand Inflation Rate Lowest in Near 2 Years, Thailand Manufacturing PMI Falls to 3-Month Low, Thailand Private Investment Rebounds in May, Thailand Personal Spending Rises the Most in Over a Year, Thailand Industrial Output Drops Less than Expected, Thailand Imports Drop Less than Estimated, Oil Holds Advance on Supply Cuts, US Draw, Wheat Rebounds on Concerning Crop Conditions, US Futures Steady After Lackluster Session, Chilean Peso Extends Stability for 4th Month, Colombia Producer Prices Sink the Most in 3 Years. Thailand gdp per capita for 2021 was $7,066, a 1.08% increase from 2020. However, inequality remains high as indicated by the World Banks GINI index, a measure in which 0 is perfect equality and 100 is perfect inequality. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. [112][113], Food and Agriculture Organization of the United Nations: In 2014, Thailand ranked number 14 in the world in "marine capture" of fish (harvesting of ocean species), 1.6 million tonnes,[114]:11 number 15 in "inland capture" (harvesting of fresh water species), 210,293 tonnesm,[114]:17 number 13 in "farmed species", 934,800 tonnes,[114]:29 and was the fourth leading exporter of fish, with exports valued at US$6.6 billion. Meanwhile, merchandise imports fell 7.3% in annual terms in Manufacturing output fell 3.3% month-on-month in seasonally-adjusted terms in April (March: -0.9% mom). Thailand's GDP growth is expected at 3.3% in 2023 and 3.7% in 2024 - ADO 2023. [30] They were ranked: Vietnam, 2; Singapore, 6; Malaysia, 9; Philippines, 27; and Indonesia, 29. Access essential information in the shortest time possible. Move Forwards Finance Minister-designate Sirikanya Tansakul recently stated that the government would focus on reducing the countrys debt-to-GDP ratio, which is among the highest in Asia. Inflation fell to 2.7% in April, following March's 2.8%, thus remaining within the Bank of Thailand's 1.0-3.0% target. The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. PDF Thailand - Asian Development Outlook April 2023 Published by. Bangkok was ranked 129th of 230 (1=best quality of living, 230=worst quality of living) cities worldwide in, Thailand ranked number 78 of 108 nations (1=best, 108=worst) for railway infrastructure in 2015 according to the, Comparitech Limited, a UK technology advisor, published "The world's most-surveilled cities" in August 2019. Based on 2015 data, Dutch navigation and digital mapping company, Thailand is the world's fifth largest exporter of. Rajdamnern Nok Avenue Subscribe to Forbes Asia. After King Bhumibol Adulyadej died, his son, King Maha Vijiralongkorn, was crowned in 2019. API users can feed a custom application. Its expenses amount to THB 2,402.5 billion and THB 2,157.6 billion for revenues. 24 October 2022. Our work on the Sustainable Development Goals. The contribution by sector to the GDP is estimated at services (52.4%), agriculture (8.4%), and industry (39.2%). Thailand: Development news, research, data | World Bank Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. Thailands economy particularly experienced enormous growth between 1986 and 2005 when effective policies were adopted such as diversification and industrialization coupled with contribution from a robust private sector. Interested in Thailand economic reports, analysis and data? Thailand unveiled a strategic 20-year plan in 2016 to propel the country to developed status. Six ASEAN nations were ranked. Thailand ranks No. [110], In June 2018, the Small Arms Survey released a briefing paper entitled "Estimating Global Civilian-Held Firearms". Among ASEAN nations, the Philippines had the highest rate of homicides per 100,000 population (9.84), followed by Laos (6.87), and Thailand (3.51). Business Freedom 66.6 Create a Graph using this measurement, Labor Freedom 56.6 Create a Graph using this measurement, Monetary Freedom 73.4 Create a Graph using this measurement. Tourism-led retail sales growth and a projected increase in Thailand's consumer . This field is for validation purposes and should be left unchanged. Economic impact of tourism Thailand is one of the most popular tourist destinations in the world. Economics in Thailand compared to the EU - Worlddata.info It also takes into account sudden drops in commodity prices, trade revenue, or foreign investment, and any collapse or devaluation of the national currency. In the United States, it was most recently 8.00%. Trading Economics welcomes candidates from around the world. The countrys public debt is 42.9% of GDP. In 2018, the World Economic Forum introduced a new methodology emphasizing the role of human capital, innovation, resilience and agility, as not only drivers but also defining features of economic success in the 4th Industrial Revolution. Economic Growth (Nominal GDP, ann. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. This entails building resilience in the social protection system and enhancing economic empowerment to enable people, particularly those who are marginalized and impoverished during the pandemic, to thrive rather than just survive in the face of global disruptions. She also proposes raising the minimum wage while opening the economy to competition. Thailand Wealth Creation 2023: Take Off - Forbes Economic activity was seen rising steadily with tourist arrivals still increasing, the Bank of Thailand (BOT) said in a statement. The BOT expects economic growth at 3.6% this year and 3.8% next . The countrys labor force stands at 39.41 million with a 0.9% unemployment rate. Explore photos, statistics and other information. This story appears in the July 2023 issue of Forbes Asia. Thailand's female incarceration rate is the world's highest at 66.4 female convicts per 100,000 inhabitants (As of 2015. Author: Editorial Board, ANU. 2023 Data - 2024 Forecast - 1960-2022 Historical - Chart - News, Thailand Inflation Rate Lowest in Near 2 Years, Thailand Manufacturing PMI Falls to 3-Month Low, Thailand Private Investment Rebounds in May, Thailand Personal Spending Rises the Most in Over a Year, Thailand Industrial Output Drops Less than Expected, Thailand Imports Drop Less than Estimated, Oil Holds Advance on Supply Cuts, US Draw, Wheat Rebounds on Concerning Crop Conditions, US Futures Steady After Lackluster Session, Chilean Peso Extends Stability for 4th Month, Colombia Producer Prices Sink the Most in 3 Years. Thailand's data is highlighted in the table below, use the filter and sort order options to allow easy comparison with other countries. Thailand | Data. The figure marked the best reading since Inflation fell to 0.5% in May below Aprils 2.7%. Thailand: GDP value contribution by sector 2021 | Statista Let's Take Action Towards the Sustainable Development Goals. Thailand has experienced 19 military coups since becoming a constitutional monarchy in 1932. Tax Burden 81.0 Create a Graph using this measurement, Government Spending 81.5 Create a Graph using this measurement, Fiscal Health 65.2 Create a Graph using this measurement.
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