Thailand » Introduction

Basic Economic Facts

GDP Composition by Sector

After enjoying the world's highest growth rate from 1985 to 1995 averaging almost 9% annually increased pressure on Thailand's currency, the baht, in 1997 led to a crisis that uncovered financial sector weaknesses and forced the government to float the currency. Long pegged at 25 to the US dollar, the baht reached its lowest point of 56 to the US dollar in January 1998 and the economy contracted by 10.2% that same year. Growth was dampened by a softening of the global economy in 2001, but picked up in the subsequent years due to strong growth in China and the various domestic stimulation programs of Prime Minister Thaksin Shinawatra, popularly known as Thaksinomics. Growth in 2003 and 2004 was over 6% annually.

The main natural resources of Thailand are tin, rubber, natural gas, tungsten, tantalum, timber, lead, fish, gypsum, lignite, fluorite, and arable land.