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Indicators of economy in Thailand

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.912 US Dollar per capita. In contrast, the GDP in Thailand reached 7.187 US dollars per inhabitant, or 501.64 bn US Dollar in the whole country. Thailand is therefore currently ranked 24 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Thailand is in the list of the world's richest countries in place 74.

Inflation in Thailand was in 2021 at around 1.23%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 61.6% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Thailand

Impact of the Covid-19 pandemic in 2020

The consequences of the Covid pandemic were not insignificant in Thailand 2020. Overall, gross domestic product in 2020 fell from 544.26 billion US Dollar auf 501.64 billion US Dollar. With a drop of 7.8 percent, the economy in Thailand suffered more significant losses than other countries.. The tourism sector alone slumped by around 76 percent. The unemployment rate rose from 0.7 to 1.1 percent. The inflation rate has fallen from 0.7 percent previously to -0.8 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Thailand
Total
Thailand
per capita
EU
Total
EU
per capita
GDP501.64 bn USD7,186.87 USD15,291.93 tn USD29,710.69 USD
Gross national product491.52 bn USD7,041.91 USD15,330.84 tn USD29,786.28 USD


Thailand ranked 36th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea. 14 of the 2000 largest listed companies in the world originate from Thailand. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country were in 2021:

Rank 234: PTT (Bangkok)
Rank 675: Siam Cement (Bangkok)
Rank 705: Kasikornbank (Bangkok)
Rank 791: Siam Commercial Bank (Bangkok)
Rank 840: CP All (Bangkok)
Rank 859: Charoen Pokphand Foods (Bangkok)
Rank 1113: Bangkok Bank (Bangkok)
Rank 1129: Thai Beverage (Bangkok)
Rank 1161: Krung Thai Bank (Bangkok)
Rank 1242: Advanced Info Service (Bangkok)

Development of the Gross domestic product in billion US Dollar 1960 - 2020



Im- and Exports 2020

 Thailand
Total
Thailand
per capita
EU
Total
EU
per capita
Imports232.98 bn USD3,337.84 USD7,340.01 bn USD14,260.90 USD
Exports258.64 bn USD3,705.52 USD7,939.04 bn USD15,424.75 USD


Development of imports and exports in billion US dollars 1975 - 2020

Exports
Imports



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