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Indicators of economy in Thailand

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Thailand, on the other hand, reached USD 7,066 per capita, or 505.95 billion USD for the whole country. Thailand is therefore currently ranked 24 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Thailand ranks 78th in the list of the richest countries.

Inflation in Thailand in 2021 was around 1.23%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 61.6 percent lower.
The index for perceived corruption in the public sector is 36, which is below average by global standards.


Back to overview: Thailand

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic were not insignificant in Thailand 2020. Overall, gross domestic product in 2020 fell from 544.08 billion US dollars to 499.68 billion US dollars. With a drop of 8.2 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 fell from 0.7 percent previously to -0.8 percent by the end of 2020.

Unemployment rates in percentages 1991 - 2021

Economic performance 2021

 Thailand
Total
Thailand
per capita
EU
Total
EU
per capita
GDP505.95 bn USD7,066.19 USD17.177 tn USD33,384.92 USD
Gross national product507.86 bn USD7,092.86 USD16.895 tn USD32,835.37 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. Out of the 2,000 largest listed companies in the world, 14 originate from Thailand. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country in 2022 were:

Rank 232: PTT (Bangkok)
Rank 761: Siam Cement (Bangkok)
Rank 784: Kasikornbank (Bangkok)
Rank 988: CP All (Bangkok)
Rank 1050: PTT Global Chemical (Bangkok)
Rank 1115: Siam Commercial Bank (Bangkok)
Rank 1261: Bangkok Bank (Bangkok)
Rank 1320: Krung Thai Bank (Bangkok)
Rank 1366: Indorama Ventures (Bangkok)
Rank 1471: Charoen Pokphand Foods (Bangkok)

Development of gross domestic product in billions of USD 1960 - 2021



Imports and Exports 2021

 Thailand
Total
Thailand
per capita
EU
Total
EU
per capita
Imports295.13 bn USD4,121.93 USD8.916 tn USD17,329.02 USD
Exports294.09 bn USD4,107.34 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1975 - 2021

Exports
Imports



Thailand: AirportsLargest airports and airlines in ThailandThe 30 biggest airports and 8 airlines in Thailand with further information and data with further information on airlines and destinations
Thailand: Public HolidaysPublic holidays in Thailand 2023-2027Statutory and inofficial holidays in Thailand for 2023 to 2027
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