Thai Economy

The traditional agrarian economy of Thailand has diverged into a multi-faceted economy, with Thai industries now boasting the latest and most sophisticated technology.

Several important factors have contributed to the country's enviable growth. The abundance and diversity of Thailand's natural resources complement the country's large expanses of fertile land and ideal growing conditions. Thailand, as a result, enjoys agricultural self-sufficiency, which enables it to become the key food exporter in Asia.

 

 

Growth and diversification in new industrial areas have to a large extent been initiated by the dynamic private sector. Innovative private enterprisea have broadened the nation's agrarian base by exploiting the value-added potential of basic staple crops and developing new products to meet with the ever-changing global demand. A free enterprise system has emerged as a result of the liberalized economy and complementary public infrastructure.

Thailand is also known for its textile products, computers and related parts, plastic products, footwear, and processed seafood. Some of the world's leading producers of cement, ceramic tiles, sanitaryware, bearings, printed circuit board assemblies and computer peripherals, hard-disk drives and varied agro-industrial products, can be found in the country. The Kingdom is one of the world's largest exporters of canned tuna, canned pineapple and frozen prawns. Thailand's economic strength is further complemented by regional alliances and relationships, the most important of which is the Association of Southeast Asian Nations (ASEAN) which is dedicated to economic development among member countries.

Economy Link
Banks
© 1997-2002 Royal Thai Consulate General, Vancouver