Zenith International, UK-based food and drink consultants, reported in 2009 that no country consumes more energy drinks than Thailand, where the average adult consumer then drank 11.4 L (3 US gallons) per year, four times more than in the US, the leading consumer of energy drinks. World Economics estimates Thailand's GDP to be $1.835 trillion - 46% larger than official estimates. Thailand ranked number 78 of 108 nations (1=best, 108=worst) for railway infrastructure in 2015 according to the World Economic Forum (WEF). 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. Thailand ranks seventh in the world in prison population per 100,000 citizens (1=highest prisoner rate; 221=lowest prisoner rate). Labor regulations are relatively flexible, but informal labor activity remains substantial. 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. Bangkok was ranked 129th of 230 (1=best quality of living, 230=worst quality of living) cities worldwide in, Thailand ranked number 78 of 108 nations (1=best, 108=worst) for railway infrastructure in 2015 according to the, Comparitech Limited, a UK technology advisor, published "The world's most-surveilled cities" in August 2019. It exported US$655.8 million of cement, or 5.5 percent of total worldwide exports. Thailands economic freedom score is 60.6, making its economy the 80th freest in the 2023 Index. Inflation should ease further this year, pushed down by higher interest rates. It also plays an active role in supporting businesses to conduct human rights due diligence in their operations to promote more equitable job opportunities. Advanced users can use our Python/R/Matlab packages. Trading Economics welcomes candidates from around the world. The criteria are revised and updated regularly as new theories, research . This page is not available in other languages. The principal imports are crude and refined petroleum, integrated circuits, capital and intermediate goods, gold, and consumer goods. 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. GDP expanded at a faster year-on-year pace in Q1, underpinned by a recovering tourism industry and resilient consumer spending. The overall rank of Thailand and the World Economy is 22660. Direct access to our data from your apps using any programing language. This entails building resilience in the social protection system and enhancing economic empowerment to enable people, particularly those who are marginalized and impoverished during the pandemic, to thrive rather than just survive in the face of global disruptions. During this period, poverty levels substantially declined in the country. var. 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. In a 2017 report published by the UK firm. This is largely due to worsening global economic conditions and tightening monetary policy. See the full list here. Thailand's female incarceration rate is the world's highest at 66.4 female convicts per 100,000 inhabitants (As of 2015. International rankings of Thailand - Wikipedia Malaysia comes in second at 41.0, followed by Indonesia at 39.0 on the GINI index. The economy is projected to expand by 3.4% in 2022 and 3.6% in 2023. 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. %), Unemployment (% of active population, aop), International Reserves (months of imports), Thailand: Merchandise exports slide in May, Thailand: Manufacturing activity grows at fastest pace since December 2021 in May, Thailand: Inflation falls to over one-year low in May, Thailand: Merchandise exports fall at a quicker rate in April, Thailand: Manufacturing production records largest contracts in six months in April, Thailand: Central Bank hikes rates further in May. It also takes into account sudden drops in commodity prices, trade revenue, or foreign investment, and any collapse or devaluation of the national currency. [154], Thailand is estimated to have 2.3 square feet of retail floor space per capita, on a par with Germany. Thailand gdp per capita for 2021 was $7,066, a 1.08% increase from 2020. A major concern is political instability, which continues to undermine Thailands investment climate and economic potential. Before COVID-19, Thailand achieved a Human Development Index (HDI) of 0.765, according to UNDPs 2019 Human Development Report. The Bloomberg Innovation Index, 2017 ranked Thailand 44 of 50 nations (1=most innovative; 50=less innovative), a rise from 47 in the 2016 ranking. The US figure is 23.5 square feet, topping the list. PDF Thailand - Asian Development Outlook April 2023 Nevertheless, inequality looms large, hindering the countrys progress towards the Sustainable Development Goals (SDGs). In 2021, there was already a recovery and the gross domestic product increased to 505.95 billion US dollars (=93.0% of 2019). SCImago Journal Rank is an indicator, which measures the scientific influence of journals. 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. Direct access to our data from your apps using any programing language. Thailand gdp per capita for 2019 was $7,630, a 7.09% increase from 2018. The countrys tourism ministry sees the number of international visitors nearly tripling to 30 million from a year ago, though arrivals will remain below 2019 levels. In the United States, it was most recently 8.00%. Top Expat Destinations 2019: In a 64 nation survey, Thailand was ranked as the 25th best destination for expats (1=best; 64=worst). Trading Economics welcomes candidates from around the world. The Automobiles and automotive parts industry dominate the industrial sector at 11%. Moreover, Thailand's income gap has improved over time, as the GINI index dropped to 36.4 in 2018 from 47.9 in 1992. . She also proposes raising the minimum wage while opening the economy to competition. The higher the value of the indicator, the greater the economic decline in the country. Other ASEAN nations were ranked: Singapore, 8; Malaysia, 13; Indonesia, 43; Vietnam, 48; Philippines, 84; Myanmar, 96; Cambodia, 100. Thailand became an upper-middle income economy in 2011. [114]:53, Thailand ranked 48 of 61 nations (1=cheapest, 61=most expensive) for a litre of gasoline (2Q2015). [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. [196], According to the Bangkok Post, Thais uploaded 495 million photos to social media in 2015, the highest number in the world.[256]. 4.60. All Rights Reserved. Leading Economic Index in Thailand averaged 121.43 points from 1993 until 2023, reaching an all time high of 161.56 points in March of 2023 and a record low of 82.25 points in March of 1993. 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. Over the last four decades, Thailand has made remarkable progress in social and economic development, moving from a low-income country to an upper-income country in less than a generation. The Trading Economics Application Programming Interface (API) provides direct access to our data. Other ASEAN nations ranked were: Indonesia, 3; Philippines, 10; Vietnam, 13; Myanmar, 22; Malaysia, 44; Cambodia, 62; Laos, 79; and Singapore, 116. FinanceAsia for the second year running has ranked the finance ministers of the Asia-Pacific region's 12 largest economies. Current job openings: Download historical data for 20 million indicators using your browser. Interested in Thailand economic reports, analysis and data? The top individual and corporate tax rates are, respectively, 35 percent and 20 percent. The following are international rankings of Thailand. The government influences prices through subsidies and other measures. Share on Twitter. The gross domestic product (GDP) measures of national income and output for a given country's economy. Economic impact of tourism Thailand is one of the most popular tourist destinations in the world. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. They were ranked: Vietnam, 2; Singapore, 6; Malaysia, 9; Philippines, 27; and Indonesia, 29. The top country was Switzerland with 64.6 points. Economic Growth (Nominal GDP, ann. Access essential information in the shortest possible time. 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. But an equally stark illustration of the challenges facing a country with developed-world demographics and a middle-income economy is Thailand. BANGKOK, June 28, 2023 - Thailand's economy is projected to accelerate to 3.9 percent in 2023 from 2.6 percent last year due to stronger-than-expected demand from China, Europe, and the United States, private consumption growth, and a recovery in tourism, the World Bank said in . All citizens now and in the future should have a fair and dignified lot in life, powered by technology, shielded from pandemics and other disasters, and protected from an increasingly unforgiving climate. Find out more about our work towards the Sustainable Development Goals. We have a plan for your needs. Leading Economic Index Thailand increased to 160.04 in May of 2023 over the same month in the previous year. Please check your download folder. Aaron O'Neill , May 4, 2023. Other ASEAN nations ranked: Singapore, 1-average IQ 108; Vietnam, 13-94; Malaysia, 15-92; Brunei, 16-91; Cambodia, 16-91; Laos, 18-89; Indonesia, 20-87; Myanmar, 20-87; Philippines, 21-86. The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. All maps, graphics, flags, photos and original descriptions 2023 worldatlas.com, Thailand Animals - Animals That Live in Thailand. A WHOUNICEFLancet Commission", "U.S. HAS HIGHEST PROPORTION OF CLIMATE DENIERS, SURVEY OF 28 COUNTRIES FINDS", "Most people expect to feel the effects of climate change, and many think it will make us extinct", "New Analysis Shows Global Exposure to Sea Level Rise", "Ranking Port Cities with High Exposure and Vulnerability to Climate Extremes: Exposure Estimates", "The Global Competitiveness Report 2015-2016", "The 2016 IMD World Competitiveness Scorecard", "Thailand rises to 28th in world competitiveness", "Five challenges to raise competitiveness: IMD", "Thailand Drops in Competitiveness Rankings", "The World Competitiveness Scorecard 2014", "Prayuth's junta to disband in uniquely Thai ritual", "Survey says Asia is most expensive region for expats", "Cost of Living Index for Country 2015 Mid Year", "Thailand has had more coups than any other country. API users can feed a custom application. Thailand ranked 11th in the world in production of motor vehicles in 2018, 2.17 million, up nine percent from 2017. 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. API users can feed a custom application. Thailand Competitiveness Rank 2023 Data - 2024 Forecast - TRADING ECONOMICS Among ASEAN nations, the Philippines had the highest rate of homicides per 100,000 population (9.84), followed by Laos (6.87), and Thailand (3.51). Opinions expressed by Forbes Contributors are their own. Thailands economy particularly experienced enormous growth between 1986 and 2005 when effective policies were adopted such as diversification and industrialization coupled with contribution from a robust private sector. [110], In June 2018, the Small Arms Survey released a briefing paper entitled "Estimating Global Civilian-Held Firearms". The Air Quality Life Index (AQLI) by the Energy Policy Institute at the University of Chicago (EPIC), Thailand was the world's tenth ranked aquaculture producer in 2015, having produced 0.9 million. The economy of Thailand is estimated by World Economics to be over 46% larger than official data suggests and is currently the world's 21st biggest economy. Thailand's political catch-2023. Trading Economics welcomes candidates from around the world. 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. Published by Statista Research Department , Mar 1, 2023. Multiple Indicator Cluster Survey 2016 (14 Provinces), Round 5. World Competitiveness Ranking - IMD Business School This story appears in the July 2023 issue of Forbes Asia. According to SCImago Journal Rank (SJR), this journal is ranked 0.140. The index for perceived corruption in the public sector is 36, which is below average by global standards.Back to overview: Thailand. Second, with Thailands rich biodiversity as an asset for local communities, models such as eco-tourism and eco-friendly enterprises can be solutions to promote both environmental conservation and equality. Volatile energy and food prices and Chinas economic reopening are key factors to monitor. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. Thailand | GDP | 2023 | Economic Data | World Economics On top of this, inequality in Thailand, like in many countries, has been exacerbated by climate change and technological transformation. 2023 Data - 2024 Forecast - 2007-2022 Historical, 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. Among areas in this report which showed the greatest . The BOT expects economic growth at 3.6% this year and 3.8% next . Quick Facts. Thailand ranks No. UNDP, together with the entire UN system, is committed to continue support to help decision-makers navigate through the current crisis. source: World Economic Forum 10Y 25Y 50Y MAX Chart Compare Export API Embed Thailand Competitiveness Rank . Since 1932, when Thailand's absolute monarchy was overturned, the country has had a world-record 20 constitutions. Inflation fell to 2.7% in April, following March's 2.8%, thus remaining within the Bank of Thailand's 1.0-3.0% target. 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. Despite Thailands success in controlling the outbreak, it has been severely hit by a sharp decline in global trade and the sudden stop in air traffic, as exports of goods and services account for about 70 per cent of the countrys GDP with international tourism contributing 12 to 15 per cent to GDP. Thailand Overview: Development news, research, data | World Bank Thailand has a heavily export-dependent economy and the industrial and service sectors are the biggest contributors to its economy. Japan has 4.4ft2; China 2.8ft2; and Indonesia 1ft2. Exports of electronics, agricultural commodities, automobiles and parts, processed foods, and other goods account for approximately two-thirds of GDP. Merchandise exports declined 4.6% in annual terms in May (April: -7.6% year-on-year). This chart displays Economic Growth (GDP, annual variation in %) for Thailand from 2013 to 2022. Read more about Thailand Economy. In Thailand, the Coincident Economic Index is a complementary tool in the assessment of the economic trend and short-term economic forecasting. 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. 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 Thailand GDP 2023 Data - 2024 Forecast - 1960-2022 Historical - Chart The Trading Economics Application Programming Interface (API) provides direct access to our data. Mahidol University was ranked the top Thai university among the top 200 Asian (including Middle Eastern) universities in 2016 by. 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. Thailand's economic data is unreliable, graded D on the World Economics classification scale. As a result, the GCI scale changed to 1 to 100 from 1 to 7, with higher average score meaning higher degree of competitiveness. Thailand's inflation rates forecasted at 2.9% in 2023 and 2.3% in 2024 - ADO 2023. Based on 2015 data, Dutch navigation and digital mapping company, Thailand is the world's fifth largest exporter of. At the same time, the wealth gap remains significant. Direct access to our data from your apps using any programing language. In February 2020, a commission composed of the. The index has a base value of 100 as of 2000. FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. 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 Principal challenges include the need to strengthen investor confidence and advance institutional reform. Consequently, Thailand's GDP . Our work on the Sustainable Development Goals. This story appears in the July 2023 issue of Forbes Asia. Thailand's political catch-2023 | East Asia Forum First and foremost, the leave no one behind principle should be at the heart of the crisis response and recovery policies. The authors would like to thank DrSweta Saxena for her editorial comments. White label accounts can distribute our data. Data are in current U.S. dollars. Thailand unveiled a strategic 20-year plan in 2016 to propel the country to developed status. Monetary stability has been maintained despite inflationary pressure. Other ASEAN nations ranked were Singapore, 9; Vietnam, 12; Malaysia, 15; Cambodia, 24; Philippines, 29; and Myanmar, 48. Inflation should average within target ahead this year, restrained by positive real interest rates. BOI : The Board of Investment of Thailand Thailands major importers are China (20.3%), Japan (15.4%), US (6.9%), Malaysia (5.9%), and the UAE (4.0%). 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. Make the best decisions about the future of your business with the most reliable economic intelligence. 2023 data is based on IMF growth rate estimates applied to World Economics GDP data. Published by Statista Research Department , Mar 1, 2023. Merchandise exports contracted 7.6% annually in April, following Marchs 4.2% drop. Thailand Wealth Creation 2023: Take Off - Forbes If not addressed, a new generation of inequalities could emerge, leaving more people even further behind. Economic performance 2021 In the Global Innovation Index, Thailand ranked 43rd in 2022 with 34.9 points. Within Country and State Economics Rankings: Thailand - IDEAS/RePEc 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. In 2016 Thailand led the world in the death rate of operators and passengers of two- and three-wheeled motorbikes. This page was last edited on 9 June 2023, at 14:14. In 2019, the GDP contribution of private consumption was estimated at 49 percent in Thailand . 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. It is known for its beautiful beaches and nature, the hospitality of the people, and its rich. 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. 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.