At the core of the Southeast Asia momentum, Thailand
is an emerging economy and is considered a newly industrialized country.
With its market of + 60 million consumers, the Thailand
lures, seduces and attracts. Thailand is the 2nd largest economy in Southeast
Asia after Indonesia.
With its middle class of + 10 consumers, Thailand
is the 4th richest nation according to GDP per capita, after Singapore, Brunei,
and Malaysia.
Thailand
functions as an anchor economy for the neighboring
developing economies of Laos, Myanmar, and Cambodia.
The economy
of Thailand is heavily export-dependent, with exports
accounting for more than two-thirds of gross domestic product (GDP).
Thailand is the country of rice, textiles and footwear, fishery products, rubber,
jewellery, cars, computers, and electrical appliances.
Substantial
industries include electric appliances, components, computer components, and
vehicles.
The Thailand
industry has an annual output of near 1.5 million vehicles, mostly commercial
vehicles. Thailand is the second
largest consumer of pick-up trucks in the world, after the US.
Tourism makes up about neraly 6% of the economy. Thailand was the most visited country in Southeast Asia in 2013,
according to the World Tourism Organisation.
Asian
tourists primarily visit Thailand for Bangkok and the
historical, natural, and cultural sights in its vicinity. Western tourists not only visit Bangkok and surroundings, but in
addition many travel to the southern beaches and islands.
Bangkok
shopping malls offer a variety of international and local
brands.
Thailand
produces roughly one-third of the oil it consumes. It is the second largest
importer of oil in SE Asia.
Thailand is a large producer of natural gas, with reserves of at least 10 trillion
cubic feet. After Indonesia, it is the
largest coal producer in SE Asia, but must import additional coal to meet
domestic demand.
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