Overall economy. Thailand has a professional-enterprise industry economic system pushed by powerful foreign investments and export oriented producing particularly in electronics, foods and automobiles. Thailand's exports account for sixty% in the country's GDP. Thailand professional potent financial progress prior to the Asian financial crisis of 1997 with GDP growth averaging nine.4% on a yearly basis. Having said that, the crisis adversely affected businesses in Thailand and observed the value of the Thai Baht decrease by more than 50% in opposition to the US greenback. For the reason that disaster, the economic system has developed on a expansion route.
Thailand's GDP was US$163.5 billion which has a GDP for each capita of US$2,537 in 2004. Thailand's GDP grew by an average of 4.six% yearly from 2000 to 2004 driven generally by exports of high engineering solutions mainly electronics. Inflation remained down below 2.0% from 2000 to 2003 but improved to 2.8% by 2004. Nevertheless, unemployment confirmed a declining pattern from 3.6% in 2000 to 1.8% by 2004.
Nearly 60% of Thailand's workforce is associated with the agriculture sector but contributed to only nine.eight% of your state's GDP in 2004. The solutions market contributed to forty six.one% of Thailand's GDP and producing 44.1% through the time period. Main industries involve tourism, electronics, textiles and clothes, processed foods, beverages, agriculture deliver, jewellery, home furnishings, plastics, motor vehicles and vehicle parts and mining of tungsten and tin. Significant agriculture goods include rice, tapioca, rubber, corn, sugarcane, coconuts, soybean and milk.
DEMOGRAPHY. Ethnic Thais account for seventy five% of Thailand's sixty five million inhabitants and A different eleven% are Chinese or Sino-Thais which have assimilated into your Thai society or are from mixed marriages. Minorities include Malays who lived primarily in southern Thailand and account for four% with the populace. Other individuals consist of the Mon, Lao, Khmers, Puan and Karen minorities and immigrants from India. Almost ninety five% in the country's inhabitants are Buddhists when Malays in Thailand are predominantly Muslims. Thai would be the national language when languages used by the minorities include Malay, Isan and Khmer. Universities educate English but proficiency is low and usually, the educated elite tend to be more proficient Together with the language.
Nearly all the Thai inhabitants nonetheless are in The agricultural communities however the proportion of your urban inhabitants is growing. Thailand's urban inhabitants elevated from 22% of the overall population in 2000 to 31% by 2004. Thailand's money and big town Bangkok accounts for practically 8% with the country's whole populace. Other important cities contain Nonthaburi, Pak Kret, Hat Yai, Nakhon Ratchasima, Chiang Mai and Udon Thani.
Thailand properly Thailand Elite lessened the poverty amount from 27% in 1990 to ten% by 2004. The proportion of the population categorised belonging inside the very low-profits domestic is believed at sixty% when Center and high-earnings households account for 30%. The standard residence income in Bangkok is twice compared to the national typical.
INFRASTRUCTURE. Telecommunication products and services to the general public are All round adequate. Online broadband services are mostly concentrated in Bangkok. Towns and cities are very well connected by roads but lacks super highways connecting Thailand's cities and major cities. Metropolitan areas the major cities are served by airports and properly connected by buses and rail method.
Intercontinental TRADE. Thailand's big trading companions involve Japan, US, China, Hong Kong, Singapore, Malaysia and Taiwan. Most important exports from Thailand include electronics, car and car pieces, textiles, clothes, footwear, seafood, processed foods, rice, rubber, jewellery, electrical appliances which includes computer systems. Most important imports incorporate machineries and equipments, raw products and completed goods, purchaser items and fuels.
CONSUMER Utilization OF Know-how. There were just about 17.3 million mounted set-line telephones in 2004 supplying a penetration of 40% of all Thai properties mounted with telephones. The penetration of cellphones increased from just 7% of your population in 2001 to 42% or 27 million cell phones by 2004. The penetration of computers remains to be small but improved from five.one% of the households in 2001 to almost twelve% by 2004. The number of Net buyers reached an approximated 8 million in 2004 but a lot of the net people are concentrated in Bangkok and the foremost metropolitan areas and cities. The penetration of tv in residences in 93% indicating a lot of lower-income houses have televisions.
RETAIL Industry. The retail marketplace in Thailand totalled an believed US£24.five billion in 2004. There are almost 300,000 traditional "mom and pop" outlets in Thailand accounting for sixty five% of the full retail product sales. Having said that, you can find 4,five hundred modern day retail establishments (hypermarkets, supermarkets, shops and comfort outlets) accounting for 35% of the full retail income. Almost all of the modern day retail establishments are located in Bangkok. Procuring in fashionable retail establishments is more and more popular and more institutions anticipated in the in the vicinity of foreseeable future.
Meals Society. Rice would be the staple foods but while All those in central and southern Thailand want white fragrant rice People in northern Thailand favor the glutinous wide range. Thai dishes are normally hot and spicy but foods within the northern area are frequently milder. Thais are considerably less adapting to western foods even when they might afford it when compared to customers in Singapore and Malaysia. Having said that, bakery and coffer shop chains are gaining level of popularity amongst younger gurus that have tailored to western culture.