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. Thailand gdp per capita for 2020 was $6,991, a 8.38% decline from 2019. Volatile energy and food prices and China's economic reopening pose risks. The higher the value of the indicator, the greater the economic decline in the country. Thailand ranks number two in the world in. 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. 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. This story is part of Forbes coverage of Thailands Richest 2023. Thailand gdp per capita for 2018 was $7,125, a 10.69% increase from 2017. Direct access to our data from your apps using any programing language. Data are in current U.S. dollars. It is known for its beautiful beaches and nature, the hospitality of the people, and its rich. Per capita GDP growth for Thailand is expected at 2.8% in 2023 and 3.2% in 2024 - ADB Report. During this period, poverty levels substantially declined in the country. United Nations Building, 12th Floor [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. FinanceAsia for the second year running has ranked the finance ministers of the Asia-Pacific region's 12 largest economies. In terms of the GINI coefficient, Thailand is better than China (38.5) and India (37.8). Trade Freedom 70.8 Create a Graph using this measurement, Investment Freedom 55.0 Create a Graph using this measurement, Financial Freedom 60.0 Create a Graph using this measurement. Explore photos, statistics and other information. 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. Other ASEAN nations ranked were Singapore, 6 of 50 and Malaysia, 23 of 50. 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. Thailand's female incarceration rate is the world's highest at 66.4 female convicts per 100,000 inhabitants (As of 2015. Based on 2015 data, Dutch navigation and digital mapping company, Thailand is the world's fifth largest exporter of. Merchandise exports contracted 7.6% annually in April, following Marchs 4.2% drop. Its fatality rate was 74.4 per 100,000 population. Here you can also find an international comparison of cost of living and purchasing power. The United States imports 11.2% of Thailands exports followed by China, Hong Kong, Japan, Malaysia, Vietnam, and Australia. Economic Growth (Nominal GDP, ann. See the full list here. Thailand's political catch-2023. The Trading Economics Application Programming Interface (API) provides direct access to our data. 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. It has been ranked as an upper-middle income economy since 2011 and has exhibited sustained economic and social progress over the years. The Automobiles and automotive parts industry dominate the industrial sector at 11%. It thus fell below the Bank of Thailands 1.03.0% target and marked the weakest reading since August 2021. The tax burden equals 16.5 percent of GDP. However, ballooning household debt, which reached 87% of GDP in the fourth quarter of 2022, remains a worry, with Thailands central bank signaling in February a need to bring debt levels down to below 80% to lower financial risk. Thailand in 2012 ranked number three of 66 nations with the most rapidly aging populations (1=most rapidly aging, 66=least rapidly aging). Although foreign direct investment is officially welcome, the overall investment frameworks lacks efficiency and transparency. In a 2017 report published by the UK firm. In 2021, there was already a recovery and the gross domestic product increased to 505.95 billion US dollars (=93.0% of 2019). Learn about employment opportunities across the UN in Thailand. The countrys labor force stands at 39.41 million with a 0.9% unemployment rate. Other ASEAN nations, their world ranking, and their incarceration rates: Singapore ranked 63 (prisoner rate, 219); Malaysia, 85 (167); Vietnam, 102 (146); Philippines, 109 (140); Brunei, 116 (134); Laos, 134 (119); Cambodia, 136 (116); Myanmar, 141 (113); Indonesia, 167 (76). The authors would like to thank DrSweta Saxena for her editorial comments. Thailand has the sixth-largest contingent of registered Facebook users, 46 million, in Asia. If not addressed, a new generation of inequalities could emerge, leaving more people even further behind. 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. In welcome news, inflation is expected to ease this year as food and energy prices stabilize following a sharp increase in living costs in 2022. Singapore had the lowest homicide rate in ASEAN, with just 0.25 murders per 100,000 population. The gross domestic product (GDP) measures of national income and output for a given country's economy. In this respect, UNDP, together with other public and private development actors, has conducted hackathons, bringing youth together to form innovative solutions to address the socioeconomic impacts of COVID-19. 2023 data is based on IMF growth rate estimates applied to World Economics GDP 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. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. Published by Statista Research Department , Mar 1, 2023. The US figure is 23.5 square feet, topping the list. The top country was Switzerland with 64.6 points. Download data. Thailand's economic data is unreliable, graded D on the World Economics classification scale. Home | Country Rankings | Graph The Data | Heat MapExplore the Data | Downloads | FAQs| About The Index. 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. World Economics estimates Thailand's GDP to be $1.835 trillion - 46% larger than official estimates. Thailand's data is highlighted in the table below, use the filter and sort order options to allow easy comparison with other countries. Economy National finances ASEAN country comparisons Thailand and the coronavirus Editor's Picks Current statistics on this topic Thailand Gross domestic product (GDP) growth rate in. Quick Facts. 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. The judicial system is inefficient and vulnerable to political interference, and corruption remains a problem. In 2019, national legislative elections solidified the pro-junta Phalang Pracharat partys power. It's No. 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. To foster a green recovery, UNDP is also supporting the preparation of a financing strategy for the 2023-2026 National Adaptation Plan. In 2018, Thailand's GINI index stood at 36.4, or the fourth in a ranking of income inequality in ASEAN. The agricultural sector is dominated by produce such as rice, corn, sugarcane, coconuts, and rubber. Opinions expressed by Forbes Contributors are their own. 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. Standard users can export data in a easy to use web interface or using an excel add-in. Please check your download folder. 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 . Thailands free-market economy benefits from relatively well-developed infrastructure. It considers the number of citations received by a journal and the importance of the journals from where these citations come. Economic impact of tourism Thailand is one of the most popular tourist destinations in the world. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. This page provides - Thailand Leading Composite Index - actual values, historical data, forecast . In February 2020, a commission composed of the. While inflation and the war in Ukraine weighed on Thailands post-pandemic momentum last year, tourisms quickening recovery is set to fuel GDP growth in 2023. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. Uneven economic development index, 0 (low) - 10 (high) index points. Economic activity was seen rising steadily with tourist arrivals still increasing, the Bank of Thailand (BOT) said in a statement. White label accounts can distribute our data. The overall rule of law is weak in Thailand. 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. 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. Finally, it is necessary for Thailand to ensure sufficient resources to support national development priorities towards inclusive and sustainable growth path. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. Nevertheless, inequality looms large, hindering the countrys progress towards the Sustainable Development Goals (SDGs). Inflation should average within target ahead this year, restrained by positive real interest rates. This chart displays Economic Growth (GDP, annual variation in %) for Thailand from 2013 to 2022. 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. In 2019, the GDP contribution of private consumption was estimated at 49 percent in Thailand . A major concern is political instability, which continues to undermine Thailands investment climate and economic potential. They were ranked: Vietnam, 2; Singapore, 6; Malaysia, 9; Philippines, 27; and Indonesia, 29. Ranked worst was Malaysia's Najib Razak. 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. 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. The country ranks the worlds 22nd largest export economy. Japan has 4.4ft2; China 2.8ft2; and Indonesia 1ft2. The result was their World Ranking of Countries by Their Average IQ, rank ordered by average IQ (with many ties due to identical results). Military brass have run the country for at least 53 of the 87 years from 19322019. Mahidol University was ranked the top Thai university among the top 200 Asian (including Middle Eastern) universities in 2016 by. Find out more about our work towards the Sustainable Development Goals. The countrys public debt is 42.9% of GDP. Thailand is ranked 16th out of 39 countries in the AsiaPacific region, and its overall score is higher than the world and regional averages. Tourism-led retail sales growth and a projected increase in Thailands consumer spending are also seen improving the economic outlook. We have a plan for your needs. 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. Inflation should ease further this year, pushed down by higher interest rates. 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. 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 nominal GDP per capita in 2015 was estimated at $5,771 and $15,319 by PPP. 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. Thailand ranks No. The COVID-19 Socio-Economic Impact Assessment commissioned by UNDP and UNICEF in partnership with the UN Country Team reveals that unemployment rate would hit 3.1 per cent in 2020 more than twice the usual rate while womens unemployment would rise to 4.5 per cent as many are employed in the worst-hit sectors such as tourism. Thailand output 1.95 million vehicles in 2015, ranking 12th in the world. White label accounts can distribute our data. 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. Other ASEAN nations ranked were Singapore, 9; Vietnam, 12; Malaysia, 15; Cambodia, 24; Philippines, 29; and Myanmar, 48. 28", "Measuring the health-related Sustainable Development Goals in 188 countries: a baseline analysis from the Global Burden of Disease Study 2015", "Thai healthcare gets a global nod of approval", "These Are the Economies With the Most (and Least) Efficient Health Care", "Intentional homicide, counts and rates per 100,000 population", "Perceptions are not reality: what the world gets wrong; Ipsos Perils of Perception Survey 2016", "The U.S. Drops Out of the Top 10 in Innovation Ranking", "These Are the World's Most Innovative Economies", "Expanding Market: Global Demand for Instat [sic] Noodles", "Freedom on the Net, 2015: Table of Country Scores", "Household Download Index; All Countries", "Thailand at forefront of attacks by cybercriminals", "World Ranking of Countries by Their Average IQ", "Our misperceptions about crime and violence, sex, climate change, the economy and other key issues", "Plastic waste inputs from land into the ocean", "Total Available Military Manpower Reaching Service Age Annually by Country", "Countries Ranked by Military Strength (2015)", "The World's Most Miserable Economy Has Seven-Figure Inflation", "These Economies Are Getting More Miserable This Year", "These Are the World's Most Miserable Economies", "Trends in adult body-mass index in 200 countries from 1975 to 2014: a pooled analysis of 1698 population-based measurement studies with 19.2 million participants", "The Countries Polluting the Oceans the Most", "Passport Index 2017; Individual Passport Power Rank 2017", "Passport Index 2017; Welcoming Countries Rank 2017", "Thai couch potatoes less active than Zimbabwe kids", "The Global Matrix 2.0 On Physical Activity for Children and Youth", "Index details; Data of press freedom ranking 2019", "2018 World Press Freedom Index; Index Details", "Highest to Lowest - Prison Population Rate", "Highest to Lowest - Prison Population Total", "Western European Cities Top Quality of Living Ranking - Mercer", "Railroad infrastructure quality - country rankings", "Global Real Estate Transparency Index 2016", "The retail apocalypse is still in its 'early innings' and thousands more stores will close before it ends", "THE 11th ANNUAL WORLD'S BEST RICE CONTEST 2019", "Vietnamese rice product wins award for World's Best Rice", "Farmers urge action after top rice fails to win prize", "These Are the 10 Richest Royals in the World", "Thailand's roads second-deadliest in world, UN agency finds", "Bangkok rated 47th safest city, Tokyo tops", "A.T. Kearney's Global Services Location Index", "Average number of sexual partners in selected countries worldwide in 2005", "The 10 most adulterous countries in the world", "Thailand ranked most adulterous country in the world", "Are Thais really the most adulterous couples in the world? Meanwhile, merchandise imports decreased 3.4% over the same Manufacturing production increased 3.1% month-on-month in seasonally-adjusted terms in May (April: -3.8% mom). 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 API users can feed a custom application. All maps, graphics, flags, photos and original descriptions 2023 worldatlas.com, Thailand Animals - Animals That Live in Thailand. The BOT expects economic growth at 3.6% this year and 3.8% next . In 2016 Thailand led the world in the death rate of operators and passengers of two- and three-wheeled motorbikes. Inflation in Thailand in 2022 was around 6.08%. 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. 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). 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 SCImago Journal Rank is an indicator, which measures the scientific influence of journals. Its score is 2.6 points lower than last year. Current job openings: Download historical data for 20 million indicators using your browser. At the same time, the wealth gap remains significant. 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. 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. The Thai economy is forecast to expand moderately even as the global economy slows. Make the best decisions about the future of your business with the most reliable economic intelligence. Business Freedom 66.6 Create a Graph using this measurement, Labor Freedom 56.6 Create a Graph using this measurement, Monetary Freedom 73.4 Create a Graph using this measurement. According to Romanian internet security software firm. Tourism-led retail sales growth and a projected increase in Thailand's consumer . 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. International Household Survey Network (IHSN) Global Financial Inclusion (Global Findex) Database 2017. The Trading Economics Application Programming Interface (API) provides direct access to our data. 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. Advanced users can use our Python/R/Matlab packages. Standard users can export data in a easy to use web interface or using an excel add-in. Thailand gdp per capita for 2021 was $7,066, a 1.08% increase from 2020. Moreover, Thailands income gap has improved over time, as the GINI index dropped to 36.4 in 2018 from 47.9 in 1992. Before COVID-19, Thailand achieved a Human Development Index (HDI) of 0.765, according to UNDPs 2019 Human Development Report. The manufacturing PMI averaged considerably higher than in Q1 in April-May, and in the same period, inflation fell sharply. Thailand, in a 2017 survey, ranked 18 of 55 nations (1=most desirable; 55=least desirable) in a ranking by expats of their favoured destinations. The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. 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. Health-related sustainable development goals, International Development Research Centre, Organisation for Economic Co-operation and Development, List of countries by firearm-related death rate, National Economic and Social Development Board, International Institute for Management Development, Programme for International Student Assessment, Food and Agriculture Organization of the United Nations, Travel and Tourism Competitiveness Report, Times Higher Education Asia University Rankings 2018, King Mongkut's University of Technology Thonburi, "Human Development Reports; Human Development Index; 2018 Statistical Update", "The Satisfaction with Life Index by Adrian G. White", "The Lottery of Life; Where to be born in 2013", "The pollution paralysis: Thailand's structural inability to clean up its air", "Government Artificial Intelligence Readiness Index 2019", "Drowning still a huge problem for Thai kids", "A future for the world's children? 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. In the United States, it was most recently 8.00%. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. This field is for validation purposes and should be left unchanged. ", "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. Please address all correspondences to manop.udomkerdmongkol@un.org. Such initiatives are welcome, and more steps need to be taken to transition towards an inclusive, sustainable growth path. The country's labor force stands at 39.41 million with a 0.9% unemployment rate. Following relatively subdued 2.6% growth in 2022, GDP is expected to expand 3.6% this year and 3.8% in 2024. Trading Economics welcomes candidates from around the world. Thailand has a heavily export-dependent economy and the industrial and service sectors are the biggest contributors to its economy. See more from the 2023 Index. ", "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. Other ASEAN nations ranked were: Indonesia, 3; Philippines, 10; Vietnam, 13; Myanmar, 22; Malaysia, 44; Cambodia, 62; Laos, 79; and Singapore, 116. As a result, the GCI scale changed to 1 to 100 from 1 to 7, with higher average score meaning higher degree of competitiveness. International Comparison Program & Purchasing Power Parity. 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.
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