Moreover, Thailand's income gap has improved over time, as the GINI index dropped to 36.4 in 2018 from 47.9 in 1992. . Consequently, Thailands GDP in the second quarter of 2020 declined by 12.2 per cent, the deepest contraction since the 1997 Asian financial crisis. Thailand's GDP growth is expected at 3.3% in 2023 and 3.7% in 2024 - ADO 2023. Thailand has the sixth-largest contingent of registered Facebook users, 46 million, in Asia. FinanceAsia for the second year running has ranked the finance ministers of the Asia-Pacific region's 12 largest economies. Thailand ranked 11th in the world in production of motor vehicles in 2018, 2.17 million, up nine percent from 2017. Comparable figures for other ASEAN nations are: Cambodia, 4.5 per 100 inhabitants; the Philippines, 3.6; Laos, 3.0; Myanmar, 1.6; Vietnam, 1.6; Brunei, 1.4; Malaysia, 0.7; Singapore, 0.3; and Indonesia, zero. Thailand Inflation. The contribution by sector to the GDP is estimated at services (52.4%), agriculture (8.4%), and industry (39.2%). In 2018, Thailand's GINI index stood at 36.4, or the fourth in a ranking of income inequality in ASEAN. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world. Read more about Thailand Economy. Trading Economics welcomes candidates from around the world. Thailand's economic freedom score is 60.6, making its economy the 80th freest in . Thailand ranked 19th of 133 nations in "total available military manpower reaching service age annually" (1=most, 133=fewest). It is undeniable that COVID-19 has put Thailand and the rest of the world in an unprecedented difficult situation. Thailand's political catch-2023 | East Asia Forum The Thai baht (THB) is Thailands currency, used by some of its neighbors including Laos, Myanmar, and Cambodia. Inflation should average within target ahead this year, restrained by positive real interest rates. International Household Survey Network (IHSN) Global Financial Inclusion (Global Findex) Database 2017. Economic activity was seen rising steadily with tourist arrivals still increasing, the Bank of Thailand (BOT) said in a statement. Within Country and State Economics Rankings: Thailand | IDEAS/RePEc Top 25% Institutions and Economists in Thailand, as of May 2023 Explanations Institutions Institutions 10/10 Authors Authors 10 More The rankings Top 25% institutions in Thailand, all authors, all publication years It considers the number of citations received by a journal and the importance of the journals from where these citations come. UNDP Thailand, as part of its COVID-19 crisis response, UNDPs Offer 2.0, has conducted programmes targeting at-risk communities, such as improving food security among ethnic groups and providing safety training and equipment for barbers and hairdressers. Thailand's data is highlighted in the table below, use the filter and sort order options to allow easy comparison with other countries. ", "Thailand's Apisak: finance minister under fire", "Children are paying for Thailand's weapons", "FIFA/Coca-Cola World Ranking; Men's Ranking", "FIFA/Coca-Cola World Ranking; Women's Ranking", "Freedom in the World 2018; Table of Country Scores", "Freedom House says Thailand's political rights and civil liberties ratings decline", "The Real Cost of Filling Up: Gasoline Prices by Country", "Thailand ready to tap busy Muslim travel market", "America Is Not the Greatest Country on Earth. Thailand has a heavily export-dependent economy and the industrial and service sectors are the biggest contributors to its economy. It thus fell below the Bank of Thailands 1.03.0% target and marked the weakest reading since August 2021. The higher the value of the indicator, the greater the economic decline in the country. Other ASEAN nations ranked were Singapore, 9; Vietnam, 12; Malaysia, 15; Cambodia, 24; Philippines, 29; and Myanmar, 48. When we think of countries that risk 'growing old before they grow rich', we usually think of China. Thailand has an estimated headline inflation of 3.02% and 13.15% of the population in 2011 lived below the poverty line. The countrys public debt is 42.9% of GDP. The report is made up of 98 variables organized into twelve pillars with the most important including: institutions; infrastructure; ICT adoption; macroeconomic stability; health; skills; product market; labour market; financial system; market size; business dynamism; and innovation capability. [30] The Trading Economics Application Programming Interface (API) provides direct access to our data. The top country was Switzerland with 64.6 points. As part of its offer, UNDP supports the analysis of financing gaps, which will inform public and private financing policies from realigning tax and budgets to utilizing alternative sources of funding. Addressing Flood, Drought Risk Key to Sustaining Robust Growth. Other ASEAN nations were ranked: Singapore, 8; Malaysia, 13; Indonesia, 43; Vietnam, 48; Philippines, 84; Myanmar, 96; Cambodia, 100. Thailand Economy Ranking: by GDP and 60 other indicators - Georank.org They were ranked: Vietnam, 2; Singapore, 6; Malaysia, 9; Philippines, 27; and Indonesia, 29. Thailand ranks number two in the world in. 2023 data is based on IMF growth rate estimates applied to World Economics GDP data. 4.60. This page was last edited on 9 June 2023, at 14:14. The overall rule of law is weak in Thailand. Leading Economic Index Thailand increased to 160.04 in May of 2023 over the same month in the previous year. BOI : The Board of Investment of Thailand The gross domestic product (GDP) measures of national income and output for a given country's economy. See how Thailand compares to another country using any of the measures in the Index. ", "Estimated Proportion of Population in Modern Slavery by Country", "Reducing Street Sprawl Could Help Combat Climate Change", "Global trends toward urban street-network sprawl", "The Sustainable Development Index: Measuring the Ecological Efficiency of Human Development in the Anthropocene", "Global talent competitiveness: a plea for diversity", "TOMTOM TRAFFIC INDEX; MEASURING CONGESTION WORLDWIDE", "Bangkok's roads rated among world's most congested", "Tyre upgrade urged to help boost exports", "3 Thai universities boost global ranking", "CU ranked Top Thai University in QS University Ranking Asia 2016", "Mahidol leads Thai universities in survey", "FTI: Car sales slump as headwinds abound", "Thailand breaks Guinness World Records for largest gathering of Volkswagens", https://en.wikipedia.org/w/index.php?title=International_rankings_of_Thailand&oldid=1159304309. According to SCImago Journal Rank (SJR), this journal is ranked 0.140. The Trading Economics Application Programming Interface (API) provides direct access to our data. The country's labor force stands at 39.41 million with a 0.9% unemployment rate. Thailand: Economy | Asian Development Bank On the heels of these developments came COVID-19 the worst pandemic in over a century. Given that the long-term impact of the pandemic implies a decline in public resources, it is now more important than ever to balance efficiency savings with protection of fundamental services including health and social protection. Advanced users can use our Python/R/Matlab packages. Thailand ranks seventh in the world in prison population per 100,000 citizens (1=highest prisoner rate; 221=lowest prisoner rate). Meanwhile, negotiations between the Move Forward Partywhich secured a majority in Mays electionsand Pheu Thai are ongoing. Thailand's inflation rates forecasted at 2.9% in 2023 and 2.3% in 2024 - ADO 2023. All maps, graphics, flags, photos and original descriptions 2023 worldatlas.com, Thailand Animals - Animals That Live in Thailand. Economic Growth (Nominal GDP, ann. In most parts of Southeast Asia, economic growth is a major contributor to poverty alleviation. Economics in Thailand compared to the EU - Worlddata.info Meanwhile, merchandise imports fell 7.3% in annual terms in Manufacturing output fell 3.3% month-on-month in seasonally-adjusted terms in April (March: -0.9% mom). Inflation plunged to 0.5% in May, following Aprils 2.7%. According to the Thailand Economic Monitor, Thailand's economy is projected to recover to its pre-pandemic level in 2022, but the pace of growth will be slower-than-expected in 2023 owing to global headwinds. Thailand GDP Per Capita 1960-2023 | MacroTrends Advanced users can use our Python/R/Matlab packages. Thailand - Rankings, News | U.S. News Best Countries In 2018, the World Economic Forum introduced a new methodology emphasizing the role of human capital, innovation, resilience and agility, as not only drivers but also defining features of economic success in the 4th Industrial Revolution. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Moreover, consumer confidence hit a 39-month high in May amid increasing tourist numbers. The nominal GDP per capita in 2015 was estimated at $5,771 and $15,319 by PPP. Thailand | Data. Monetary stability has been maintained despite inflationary pressure. The ASEAN region will remain one of the fastest-growing regions of the world in 2023 but economic growth will likely fall marginally from 2022. Thai Economy to Accelerate in 2023 as Demand from Major Economies Picks Its expenses amount to THB 2,402.5 billion and THB 2,157.6 billion for revenues. We have a plan for your needs. At the same time, the wealth gap remains significant. The plan sets the guidelines for reforming existing industries as well as stimulating others, boosting tourism and external trade, reducing government bureaucracies, and implementing infrastructure. With no minimum capital requirement, the process for starting a business has been streamlined. Interested in Thailand economic reports, analysis and data? That said, merchandise exports fell year on year in April, pointing to underwhelming global demand. Singapore, Thailand, and Vietnam - to moderate to 4.4 percent in 2023 from a projected 5.6 percent in . Download Historical Data Save as Image From: To: Zoom: 0 200 400 GDP ( Billions of US $) GDP: $505.95 0 2,000 4,000 6,000 Per Capita (US $) Per Capita: $7,066 As a result, the GCI scale changed to 1 to 100 from 1 to 7, with higher average score meaning higher degree of competitiveness. source: World Bank 10Y 25Y 50Y MAX Chart Compare Export API Embed Thailand GDP Now is also the time, however, for Thailand to reorient its course of development an opportunity for the country to emerge stronger and more equitable than before. Military brass have run the country for at least 53 of the 87 years from 19322019. Thailand Competitiveness Rank Summary Stats Download Thailand is the 40 most competitive nation in the world out of 140 countries ranked in the 2019 edition of the Global Competitiveness Report published by the World Economic Forum. Thailand's economy picks up in May as tourism, spending rise Thailand: GDP component breakdown 2019 | Statista 2023 Data - 2024 Forecast - 1960-2022 Historical - Chart - News, Thailand Inflation Rate Lowest in Near 2 Years, Thailand Manufacturing PMI Falls to 3-Month Low, Thailand Private Investment Rebounds in May, Thailand Personal Spending Rises the Most in Over a Year, Thailand Industrial Output Drops Less than Expected, Thailand Imports Drop Less than Estimated, Oil Holds Advance on Supply Cuts, US Draw, Wheat Rebounds on Concerning Crop Conditions, US Futures Steady After Lackluster Session, Chilean Peso Extends Stability for 4th Month, Colombia Producer Prices Sink the Most in 3 Years. Overview Data Data Project Socio-economic Reintegration Project Make the best decisions about the future of your business with the most reliable economic intelligence. Thailand: GDP value contribution by sector 2021 | Statista It assembled data on the number of. The authors would like to thank DrSweta Saxena for her editorial comments. White label accounts can distribute our data. 2023 by The Heritage Foundation. Thailand: tourism GDP contribution | Statista Thailand: Development news, research, data | World Bank Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. To foster a green recovery, UNDP is also supporting the preparation of a financing strategy for the 2023-2026 National Adaptation Plan. Thailand has an estimated headline inflation of 3.02% and 13.15% of the population in 2011 lived below the poverty line. var. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. Standard users can export data in a easy to use web interface or using an excel add-in. Based on 2015 data, Dutch navigation and digital mapping company, Thailand is the world's fifth largest exporter of. Thailand's female incarceration rate is the world's highest at 66.4 female convicts per 100,000 inhabitants (As of 2015. Data are in current U.S. dollars. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The US figure is 23.5 square feet, topping the list. Top Expat Destinations 2019: In a 64 nation survey, Thailand was ranked as the 25th best destination for expats (1=best; 64=worst). The countrys property rights score is below the world average; its judicial effectiveness score is below the world average; and its government integrity score is below the world average. We have a plan for your needs. Thailand | Data - World Bank Data . It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Copyright 2023 United Nations in Thailand, Caption: Thailands inequality in land possession is extremely high for a country at this level of development, Caption: Thailands income inequality has shown a downward trend during the past 30 years, Caption: People with disabilities may be at greater risk of contracting COVID-19 due to barriers accessing health care, Caption: Marginalized people should not be left behind as Thailand moves forward to the new normal, Caption: Eco-tourism as a viable alternative for economic development of rural communities in Thailand. Thailand GDP 1960-2023 | MacroTrends In 2016 Thailand led the world in the death rate of operators and passengers of two- and three-wheeled motorbikes. The tax burden equals 16.5 percent of GDP. Direct access to our data from your apps using any programing language. Number of intentional homicides committed with a firearm that were recorded in criminal (police) statistics: Ranked 3rd for the year 2000 among the 92 countries that responded to the survey (behind #1, Thailand has been ranked the world's third most unequal nation after Russia and India, with a widening gap between rich and poor according to. Following relatively subdued 2.6% growth in 2022, GDP is expected to expand 3.6% this year and 3.8% in 2024. The top individual and corporate tax rates are, respectively, 35 percent and 20 percent. It's No. Other ASEAN nations ranked were: Indonesia, 3; Philippines, 10; Vietnam, 13; Myanmar, 22; Malaysia, 44; Cambodia, 62; Laos, 79; and Singapore, 116. source: World Economic Forum 10Y 25Y 50Y MAX Chart Compare Export API Embed Thailand Competitiveness Rank Thailand Leading Economic Index - June 2023 Data - 1993-2022 Historical Available data for Q2 paints a positive economic picture. It has been ranked as an upper-middle income economy since 2011 and has exhibited sustained economic and social progress over the years. Mays figure marked the weakest inflation rate since August 2021. Economic performance 2021 In the Global Innovation Index, Thailand ranked 43rd in 2022 with 34.9 points. Thailand gdp per capita for 2019 was $7,630, a 7.09% increase from 2018. In this aspect, UNDP has conducted programmes such as providing biodiversity-protection jobs for communities in buffer zones of protected areas and cash-for-work initiatives for boat owners in Koh Tao Island to reduce marine debris. Since then, the kingdom has had 13 successful coups, nine failed ones, and 29 prime ministers, not including nine who served briefly in an acting capacity. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Let's Take Action Towards the Sustainable Development Goals. The agricultural sector is dominated by produce such as rice, corn, sugarcane, coconuts, and rubber. Country Rankings OVERALL SCORE 83.9 -0.5 WORLD RANK 1 #1 Singapore Read More About Singapore Singapore's economic freedom score is 83.9, making its economy the world's freest in the 2023. At this juncture, policy-makers and partners have realized the need to use this crisis as an opportunity to rethink the development model of Thailand in view of achieving the SDGs. In 2016, the country ranked 22nd in the world by Purchasing Power Parity which was $1.108 trillion. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. Economic fundamentals remain relatively solid. Other ASEAN nations ranked: Philippines, 14 (9,756 homicides); Vietnam, 39 (1,358); Myanmar, 41 (1,304); Indonesia, 42 (1,277); Malaysia, 74 (540); Laos, 79 (467); Cambodia, 100 (268); Singapore, 175 (14); Brunei, 197 (2). Thailand Overview: Development news, research, data | World Bank Published by. The Trading Economics Application Programming Interface (API) provides direct access to our data. Thailand GDP 2023 Data - 2024 Forecast - 1960-2022 Historical - Chart The criteria are revised and updated regularly as new theories, research . Thailand is an emerging market with the highest progress in the world from 2013 to 2018, up by 12 ranks, reflecting continued improvements in life expectancy at birth, years of schooling and income per capita. Economy of Thailand - Wikipedia Standard users can export data in a easy to use web interface or using an excel add-in. Thailand Economic Focus: Building a more equal and sustainable Thailand Although foreign direct investment is officially welcome, the overall investment frameworks lacks efficiency and transparency. However, inequality remains high as indicated by the World Banks GINI index, a measure in which 0 is perfect equality and 100 is perfect inequality. [28] As of 2018, Thailand has an average inflation of 1.06% [29] and an account surplus of 7.5% of the country's GDP. Thailand gdp for 2019 was $544.08B, a 7.37% increase from 2018. Tax Burden 81.0 Create a Graph using this measurement, Government Spending 81.5 Create a Graph using this measurement, Fiscal Health 65.2 Create a Graph using this measurement. Across the ASEAN membership, the Philippines has a GINI index value of 44.4, making it a country with the widest income gap in the region. [114]:53, Thailand ranked 48 of 61 nations (1=cheapest, 61=most expensive) for a litre of gasoline (2Q2015). Thailand ranked 16 with an average IQ of 98. Move Forwards Finance Minister-designate Sirikanya Tansakul recently stated that the government would focus on reducing the countrys debt-to-GDP ratio, which is among the highest in Asia. Consequently, Thailand's GDP . Among those severely affected are informal workers, which account for more than half of the labour force, and vulnerable populations such as people with disabilities, LGBTI people and ethnic community members who have lower access to job opportunities and face difficulties in accessing government assistance. In 2019, national legislative elections solidified the pro-junta Phalang Pracharat partys power. Thailands exports were valued at $214.37 billion in 2015. Japan has 4.4ft2; China 2.8ft2; and Indonesia 1ft2. The overall rank of Thailand and the World Economy is 22660. In 2022, the supreme court suspended Prayut Chan-ocha from the premiership while it considered claims that he was exceeding the constitutions term limit clause. The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Among areas in this report which showed the greatest . API users can feed a custom application. However, it is also important to remember that this is a purely statistical model. This story appears in the July 2023 issue of Forbes Asia. Please check your download folder. Malaysia comes in second at 41.0, followed by Indonesia at 39.0 on the GINI index. Thai voters and global investors are looking for a stable new government and clear economic policies, including debt-restructuring measures, for sustainable growth. Trading Economics welcomes candidates from around the world. The pandemic is hitting the poorest and most vulnerable people the hardest. Beverages and tobacco also contribute immensely to the economy. Although poverty levels have been on a downward trajectory in the country, the North, Northeast, and the Deep South rural communities have been subjected to disproportional levels of poverty. PDF Thailand - Asian Development Outlook April 2023 Other ASEAN nations were ranked: Indonesia, 2; Philippines, 3; Vietnam, 4; Malaysia, 8; Myanmar, 17. The following are international rankings of Thailand. Home | Country Rankings | Graph The Data | Heat MapExplore the Data | Downloads | FAQs| About The Index. Such initiatives are welcome, and more steps need to be taken to transition towards an inclusive, sustainable growth path. Largest economies in the world by GDP (nominal) in 2023 according to International Monetary Fund estimates [n 1] [1] Countries by nominal GDP in 2019 [n 2] > $20 trillion $10-20 trillion $5-10 trillion $1-5 trillion $750 billion - $1 trillion $500-750 billion $250-500 billion $100-250 billion $50-100 billion $25-50 billion $5-25 billion The figure marked the best reading since Inflation fell to 0.5% in May below Aprils 2.7%. The Economy Of Thailand - WorldAtlas Overall, real GDP growth is projected to expand by 3.3% in 2023 and 3.7% in 2024, while inflation should ease (Table 2.30.1 and Figure 2.30.6). Thailand unveiled a strategic 20-year plan in 2016 to propel the country to developed status. Increasing incidents of floods and droughts have destroyed crops and depressed the income of farmers, while looming disruptions in various industries have led to factories shutting down and workers losing their jobs. Thailand itself is a newly industrialized country, with a GDP of 17.367 trillion baht (US$536 billion) in 2022, the 9th largest economy of Asia. Moreover, Thailands income gap has improved over time, as the GINI index dropped to 36.4 in 2018 from 47.9 in 1992. Current job openings: Download historical data for 20 million indicators using your browser. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. In terms of the GINI coefficient, Thailand is better than China (38.5) and India (37.8). API users can feed a custom application. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. In terms of the GINI coefficient, Thailand is better than China (38.5) and India (37.8). Principal challenges include the need to strengthen investor confidence and advance institutional reform. Thailand jails 450 persons per 100,000 population. In Thailand, the Coincident Economic Index is a complementary tool in the assessment of the economic trend and short-term economic forecasting. World Competitiveness Ranking - IMD Business School In the 2016 ranking, Thailand's Apisak Tantivorawong was ranked 11th (1=best, 12=worst). Property Rights 44.2 Create a Graph using this measurement, Judicial Effectiveness 35.1 Create a Graph using this measurement, Government Integrity 37.7 Create a Graph using this measurement. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. Thailand is ranked 18th on account of the ease of doing business. Data are in current U.S. dollars. Thailand Economy: Population, GDP, Inflation, Business, Trade, FDI Thailand was ranked sixth of 20 nations (1=biggest contributor; 20=lowest contributor) for its contribution to marine plastic waste in 2010. According to the World Economic Forum, Thailand's Global Competitive Index 4.0 ranking improved to 40 th place (out of 141 countries) in 2019, while the World Bank Group's 2020 Ease of Doing Business report ranking Thailand 21 st out of 190 countries, up six places from the previous year. It is especially useful in the determination of the turning points or the peaks and troughs of business cycles as well as the shortterm (3 4 months) forecast of the economy. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. In 2021, there was already a recovery and the gross domestic product increased to 505.95 billion US dollars (=93.0% of 2019).