Thailand in Brief
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Transcript of Thailand in Brief
ASEAN Fast Facts
ASEAN population is 9% of the world’s population 604 million people
ASEAN+3 population is 31% of the world’s population 2.13 billion people
ASEAN+6 population is 49% of the world’s population 3.36 billion people
ASEAN GDP is 3.1% of the world’s GDP US$ 2.18 trillion
ASEAN+3 GDP is 24% of the world’s US$ 16.46 trillion
ASEAN+6 GDP is 28% of the world’s US$ 19.79 trillion
ASEAN+3 trade is 24% of world’s trade US$ 8.79 trillion
ASEAN+6 trade is 28% of world’s trade US$ 10.14 trillion
Source: http://investasean.asean.org/
Total area 513,115 km2
Time zone +7 GMT
Language Thai
Religion Theravada Buddhist
Population 67 million
Labor Force 39.64 million
Neighbours: Cambodia, Laos, Malaysia,
Myanmar
Capital City: Bangkok (Krung Thep)
Primary Port: Bangkok
Primary Airport: Suvarnabhumi
Currency Baht (THB)
Source: CIA World Factbook
Country name:conventional long form: Kingdom of Thailand conventional short form: Thailand
Government type constitutional monarchyLegal system civil law system with common law influences
Head of state King Bhumibol AdulyadejHead of government Yingluck Shinawatra
Key Macro Economic Indicators and Forecast
Indicators 2012 2013 2014 2015 2016 2017 2018Real GDP (% change) 6.5 2.9 3.2 4.4 4.8 4.5 4.3Nominal GDP (US$ bil.) 366.0 388.5 388.6 429.1 469.5 524.7 562.2Real Consumer Spending (% change)
6.7 0.5 2.8 3.9 3.6 3.7 5.1
Real Imports of Goods and Services (%change)
6.2 2.4 3.3 5.1 5.5 5.6 5.5
Real Exports of Goods and Services (% change)
3.1 4.0 3.6 5.2 5.1 5.0 4.9
Industrial Production Index (% change)
2.1 -3.0 2.9 5.4 5.3 4.7 4.3
Consumer Price Index (% change)
3.0 2.2 1.8 2.3 3.1 3.4 3.5
Policy Interest Rate (%) 2.75 2.25 2.75 3.50 3.75 4.61 4.30Population (mil.) 66.79 67.01 67.22 67.40 67.54 67.65 67.74Unemployment Rate (%) 0.7 0.8 0.7 0.7 0.7 0.7 0.7Exchange Rate (LCU/US$, end of period)
30.63 32.82 32.09 31.49 31.37 30.48 30.71Source: IHS Global Insight 2014
GDP Composition, by Sector
Top-10 Sectors Ranked by Value Added
Agricultural Products
rice, cassava (manioc), rubber, corn, sugarcane, coconuts, soybeans
Industries
tourism, textiles and garments, agricultural processing, beverages, tobacco, cement,
light manufacturing such as jewelry and electric appliances, computers and parts, integrated circuits, furniture, plastics, automobiles and automotive parts
2013 Level Percent(Bil. US$)
2014 Percent Change(Real terms)
Share of GDP(Nominal terms)
1. Agriculture 40.5 2.5 10.1
2. Wholesale trade 33.1 4.6 8.3
3. Retail trade - total 27.0 2.6 6.7
4. Public Admin. & Defense 25.5 5.1 6.4
5. Banking & related financial
18.5 6.6 4.6
6. Education 16.2 3.0 4.0
7. Food products 15.6 5.9 3.9
8. Hotels & restaurants 13.9 5.4 3.5
9. Motor vehicles 12.3 -0.6 3.1
10. Real estate 11.4 5.6 2.9
Thailand Key Industries
Agriculture-Thailand and ASEAN is one of the most productive agricultural baskets in the world. In 2012, the region produced 129 million tons of rice, 40 million tons of corn, 171 million tons of sugarcane, 1.44 million tons of soybean, and 70.34 million tons of cassava
Air Travel-The move towards an ASEAN Single Aviation Market boosted infrastructure investment and aviation development plans in the region. Thailand is a hub of air transportation of ASEAN and ASIA
Automotive-The auto industry in Thailand and ASEAN have exhibited strong growth over the last few years. Combined motor vehicle sales in 6 major ASEAN countries (Indonesia, Malaysia, Thailand, Philippines, Viet Nam, and Singapore) reached an all time high of 3.5 million units in 2012, almost double of sales figures in 2007 which is 1.9 million units. Production of motor vehicles rose 41.5% year-on-year between 2011 and 2012.
Electronics-The electronics sector accounts for 20% to 50% of the total value of exports
of most countries in Asia. High quantities of the world’s consumer electronics like televisions, radios, computers, and cellular phones come from the ASEAN region. More than 80% of the world’s hard drives are made in Thailand and ASEAN.
Source: http://investasean.asean.org/
Thailand Key Industries
Fisheries-ASEAN has been a major producer of fish and other fisheries products. Combined, the 10 ASEAN countries accounted for a quarter of global fish production. Of the world’s top ten largest fish producers, four are from ASEAN - Indonesia, Thailand, Viet Nam, and the Philippines.
Tourism-ASEAN and Thailand is the fastest growing destination-region in the world, followed by South Asia.
Textile and Apparels-Textile is one of the largest export products from ASEAN, amounting to almost US$ 10 billion in 2011.
Healthcare-Thailand’s evolving demographics and lifestyle is driving changes in the healthcare sector.
Logistics -investors are presented with wide ranges of possibilities as ASEAN and Thailand pursue improved connectivity through various modes and access to ports, sophisticated logistics services, and skilled professionals in all aspects of supply chains.
Source: http://investasean.asean.org/
Exports$229.1 billion (2013 est.)
Export –Commoditieselectronics, computer parts, automobiles and parts, electrical appliances, machinery and equipment, textiles and footwear, fishery products, rice, rubber
Exports-PartnersChina 11.7%, Japan 10.2%, US 9.9%, Hong Kong 5.7%, Malaysia 5.4%, Indonesia 4.9%, Singapore 4.7%, Australia 4.3%
Imports$223 billion (2013 est.)
Import –Commoditiescapital goods, intermediate goods and raw materials, consumer goods, fuels
Imports-PartnersJapan 20%, China 14.9%,
UAE 6.3%, Malaysia 5.3%, US 5.3%
Source: CIA World Factbook
Country Trade Agreement Effective Date
Thailand-Australia January 1, 2005
Thailand-New Zealand July 1, 2005
Thailand – Japan November 1, 2007
Thailand-India September 1, 2004
ASEAN-China October 1, 2003
ASEAN-Korea January 1, 2010
ASEAN-Australia-New Zealand March 12, 2010
ASEAN-India January 1, 2010
ASEAN-Japan June 1, 2009
AFTA January 1, 2002 – 5 percentJanuary 1, 2010 – 0 percent
Thailand-Peru December 31, 2011
Thailand-Chile October 4, 2013
Trade Integration
Trans-Pacific Network of FTAs that are already in Force or Negotiation
Source: ASEAN Foundation
Topics DB 2013-2014 Rank
Thailand ArgentinaCompetitiveness 38th 104thEase of Doing Business 18 126
Dealing with Construction Permits 14 181
Getting Electricity 12 80
Registering Property 29 138
Getting Credit 73 73Protecting Investors 12 98Paying Taxed 70 153Trading Across Borders 24 129Enforcing Contracts 22 57Resolving Insolvency 58 97
Source: World Bank 2014; World Economic Forum 2014
2009 2010 2011 2012 2013
Imports 441,745 525,260 608,999 646,007 1,075,159
Exports 383,488 594,461 716,287 948,282 1,035,998
Trade Balance -58,257 69,201 107,288 302,275 -39,161
Unit $US Source: Trade Map
Export-Main Products
•Electrical, electronic equipment•Vehicles•Machinery, nuclear reactors, boilers•Iron or Steel•Rubber
Import-Main Products•Animal Feed•Oil seed, oleagic fruits, grain, seed, fruit•Raw hides and skins•Vehicles•Fish, crustaceans, molluscs, aquatic invertebrates
Muchas Gracias!Welcome to Thailand!