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Economy overview
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Thailand has a free-enterprise economy and welcomes foreign investment. Exports feature textiles and footwear, fishery products, rice, rubber, jewelry, automobiles, computers and electrical appliances. Thailand has recovered from the 1997-98 Asian Financial Crisis and was one of East Asia's best performers in 2002. Increased consumption and investment spending and strong export growth pushed GDP growth up to 6.3% in 2003 despite a sluggish global economy. The highly popular government has pushed an expansionist policy, including major support of village economic development.
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GDP
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purchasing power parity - $477.5 billion (2004 est.)
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GDP - real growth rate
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6.7% (2004 est.)
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GDP - per capita
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purchasing power parity - $7,400 (2004 est.)
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GDP - composition by sector
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agriculture: 9.8%
industry: 44%
services: 46.3% (2004 est.)
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Investment gross fixed
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25.5% of GDP (2004 est.)
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Population below poverty line
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10.4% (2002 est.)
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Household income or consumption by percentage share
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lowest 10%: 2.8%
highest 10%: 32.4% (1998)
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Distribution of family income - Gini index
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41.4 (1998)
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Inflation rate consumer prices
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1.8% (2004 est.)
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Labor force
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34.9 million (2004 est.)
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Labor force by occupation
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agriculture 49%, industry 14%, services 37% (2000 est.)
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Unemployment rate
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2.2% (2004 est.)
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Budget
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revenues: $24.41 billion
expenditures: $24.01 billion, including capital expenditures of $5 billion (2004 est.)
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Public debt
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46.6% of GDP (2004 est.)
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Agriculture products
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rice, cassava (tapioca), rubber, corn, sugarcane, coconuts, soybeans
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Industries
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tourism, textiles and garments, agricultural processing, beverages, tobacco, cement, light manufacturing such as jewelry, electric appliances and components, computers and parts, integrated circuits, furniture, plastics, world's second-largest tungsten producer, and third-largest tin producer
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Industrial production growth rate
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12.3% (2004 est.)
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Electricity production
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97.6 billion kWh (2001)
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Electricity production by source
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fossil fuel: 91.3%
hydro: 6.4%
other: 2.4% (2001)
nuclear: 0%
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Electricity consumption
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90.91 billion kWh (2001)
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Electricity exports
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200 million kWh (2001)
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Electricity imports
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350 million kWh (2001)
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Oil production
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173,800 bbl/day (2004 est.)
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Oil consumption
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785,000 bbl/day (2001 est.)
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Oil exports
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NA (2001)
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Oil imports
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NA (2001)
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Oil proved reserves
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600 million bbl (1 January 2003)
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Natural gas production
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18.73 billion cu m (2001 est.)
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Natural gas consumption
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23.93 billion cu m (2001 est.)
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Natural gas exports
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0 cu m (2001 est.)
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Natural gas imports
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5.2 billion cu m (2001 est.)
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Natural gas proved reserves
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368.2 billion cu m (1 January 2003)
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Current account balance
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$9.44 billion (2004 est.)
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Exports
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$75.99 billion f.o.b. (2004 est.)
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Exports commodities
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computers, office machine parts, transistors, rubber, vehicles (cars and trucks), plastic, seafood (2002)
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Exports partners
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US 17%, Japan 14.2%, Singapore 7.3%, China 7.1%, Hong Kong 5.4%, Malaysia 4.8% (2003)
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Imports
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$65.3 billion f.o.b. (2003 est.)
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Imports commodities
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capital goods, intermediate goods and raw materials, consumer goods, fuels (2000)
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Imports partners
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Japan 24.1%, US 9.5%, China 8%, Malaysia 6%, Singapore 4.3%, Taiwan 4.2% (2003)
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Reserves of foreign exchange gold
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$42.15 billion (2004 est.)
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Debt external
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$53.75 billion (2004 est.)
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Economic aid recipient
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$131.5 million (1998 est.)
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Currency
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baht (THB)
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Currency code
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THB
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Exchange rates
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baht per US dollar - 41.4846 (2003), 42.9601 (2002), 44.4319 (2001), 40.1118 (2000), 37.8137 (1999)
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Fiscal year
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1 October - 30 September
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This information was reproduced in part from the CIA World Fact book.
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