Prepared By: Shreeya Kharel
BRIEF HISTORY
•Founded in the 13th century
•Was known as Siam until 1939
•People of Thailand are called ‘Thai’ meaning Free.
•One of the Southeast Asian country never to have
been colonized.
•King Rama I established Bangkok as the capital in
1782.
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Population:65.28 Millions(2007)
Population growth rate: 0.64% (2008 est.)
Literacy Rate: 92.6 (2007) %
Religions: Buddhism- 94.6%, Islam- 4.6%,
Christianity- 0.7%, Hinduism- 0.1%,
other0.1% (2000)
Language: Thai, English (secondary language),
Mandarin, Vietnamese, ethnic and regional
dialects.
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http://www.youtube.com/watch?v=sswbeMR
42lY
Economic Indicators
Units
1. RGDP (In USD Billions)
5194
2. Real Growth rate
4.8%
3. Inflation Rate
2.2%
4. Population (In Millions)
65.74
5. Population below poverty line
10%
6. Literacy Rate
92.6%
7. Unemployment Rate
1.4%
8. GDP Per Capita (PPP) (In USD)
8000
Year(1980-2013)
*Source:ADB
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
Persons in millions
Population
80
70
60
50
40
30
Thailand
20
10
0
Head Of State
• King Bhumibol Adulyadej
The Executive Head
• Prime Minister Samak Sundaravej
Government
• People’s Power Party (PPP)
• Democrats Party (DP)
• Other Small Parties
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The failure to dampen overheating pressures
that had become increasingly evident in
Thailand and many other countries in the
region and were manifested in large external
deficits and property and stock market
bubbles.
Maintenance of pegged exchange rate regimes
for too long, which encouraged external
borrowing and led to excessive exposure to
foreign exchange risk.
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Thailand was no exception when Asia was hit
by the financial crisis in 1996.
From 1978-1997 Thai currency was pegged.
Thailand's difficulties resulted from its earlier
economic success. Strong growth, averaging
almost 10 percent per year from1985-1996.
Thailand GDP fell to -10%.
Thai Bhat devalued immensely. 56 BHT for 1$
By 2003 Thailand had recovered, paid back its
debt to the IMF.
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2005: General Election. People
were not happy with the
outcome. Corruption let to the
election winner.
2006:Significant pressure from
corruption allegations.
Call for a snap election. The
opposition boycotted the
elections.
Pressure continued to build,
leading to a military coup on 19
September 2006.
First non-constitutional change
of government in fifteen years.
Right now the country is under
the state of emergency. Military
law in-forced.
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http://edition.cnn.com/2008/WORLD/asiapcf/0
9/01/thailand.protests.ap/index.html#cnnSTCVid
eo
http://www.youtube.com/watch?v=Vue9OIy9vV
E
* Source: CNN
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ASEAN: Association of East Asian Nations
Founded in 1967.
Original Members: Indonesia, Malaysia,
Philippines, Singapore and Thailand
New Members: Brunei, Cambodia, Laos,
Myanmar and Vietnam.
ASEAN Goal: Accelerate Economic Growth,
Social Progress and Cultural Development,
Promote Regional Peace and Stability under the
guidelines of the UN.
RGDP Growth
2003
2004
2005
2006
2007
Indonesia
4.8
5.1
5.7
5.5
6.3
5.8
6.8
5.3
5.7
6.3
4.9
6.3
4.9
5.4
7.1
7.1
6.3
4.5
5.1
4.7
3.5
8.9
7.2
8.1
7.7
Malaysia
Philippines
Thailand
Singapore
Real GDP Growth (1980-2013)
15
Percent Change(%)
10
5
Indonesia
Malaysia
0
1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010 2013
Philippines
Thailand
-5
Singapore
-10
-15
Year
*Source: IMF
GDP Per Capita (PPP)
80000
70000
60000
USD($)
50000
Indonesia
40000
Malaysia
Philippines
30000
Thailand
Singapore
20000
10000
0
1980
1983
1986
1989
1992
1995
1998
Year
*Source:IMF
2001
2004
2007
2010
2013
Inflation (1980-2013)
70
60
Inflation Annual %
50
40
Indonesia
Malaysia
30
Philippines
Thailand
20
Singapore
10
0
1980
-10
1983
1986
1989
1992
1995
1998
Year
*Source:IMF
2001
2004
2007
2010
2013
Export and Import (% of GDP)
80
70
60
40
Exports of goods and services (% of GDP)
Imports of goods and services (% of GDP)
30
20
10
0
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
% of GDP
50
Year (1980- 2007)
*Source:World Bank
Key Export Products
%
Key Import Products
%
1. Machinery
13.4
1. Fuel & Lubricants
13.9
2.Electrical Apparatus
12.7
2. Minerals & Metal Products
13.9
3.Electrical Appliances
8.8
3. Electronic Parts: Industrial
11.7
4.Vehicles parts & accessories
6.0
Machinery, Tools.
10.1
Key Export Partners
%
Key Import Partners
%
1. U.S.A
12.6
1. Japan
20.3
2. Japan
11.9
2. China
11.6
3. China
9.7
3. U.S.A
6.8
4. Singapore
6.3
4. Malaysia
6.2
FDI Inflow
1E+10
9E+09
8E+09
7E+09
USD($)
6E+09
5E+09
Thailand
4E+09
3E+09
2E+09
1E+09
0
1980
1985
1990
1995
Year (1980-2006)
*Source:World Bank
2000
2005
FDI Outflow
9000
8000
7000
USD In Millions
6000
5000
4000
FDI Outflow
3000
2000
1000
0
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Year (1990-2007)
* Source: ADB
Composition of GDP :THAILAND
60
40
30
Agriculture, value added (% of GDP)
Industry, value added (% of GDP)
Services, etc., value added (% of GDP)
20
10
0
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
% of GDP Value Added
50
Year(1980-2007)
*Source: World Bank
Unemployment Rate
5.0
4.5
4.0
3.5
(%)
3.0
2.5
Thailand
2.0
1.5
1.0
0.5
0.0
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Year(1990-2007)
*Source: ADB
Foreign Denomination
Thailand Bhat (THB)
1 USD($)
35.04
1 Yen(¥)
0.35
1 Euro (€)
45.48
1 Pound (£)
55.80
*The
exchange rate market can be quite volatile and
predicting future rates accurately is not easy.
*The Thailand Bhat has been slowly appreciating against
the USD over the years which means that the the
purchasing power of the Thailand Bhat had increased.
Economic Indicators
Rankings
1. Economic Openness
63.5
2. GINI Index
42 (Medium)
3. Corruption Perception Index (CPI)
3.3 on a scale of 10. USA: 7.2
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The economic prosperity comes not only from
government programs but also from
entrepreneurial inspiration – productivity.
Policies to Affect the Saving Rate
Policies to Raise the Rate of Productivity Growth.
(Technology, HD, R&D, Education, Health Care)
Establish the right institutions.
Use its resources efficiently.
*Source: Prof. Yu (WSU)
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ASEAN-5 may have been overlooked after the
financial crisis in 1997.
Attractive alternative destination for business,
trade, investment and tourism.
Economic growth post financial crisis (1997)
had picked up significantly, until 2006 due to
political imbalance in the country.
Highly educated workers, reasonably
competitive wage rate.
Strong agricultural sector. Emerging industrial
sector.
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In conclusion, Thailand holds a promising base
for manufacturing and agricultural sectors
supported by its abundant labor force,
reasonable wage, highly educated human
capital and good infrastructure.
Rising per capita means growing middle class
with higher spending power.
The regions long term prospects will be further
enhanced by its openness to trade and foreign
investment-friendly policies.
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With economic support from various countries
and economic integration projects which are
underway such as AFTA (ASEAN Free Trade
Area), Chiang Mai Initiative, Thailand has
potential to grow from a developing nation
towards a developed nation.