Thailand

Recovery slowed by the slump in tourism

B2

MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

The country risk assessments are your North Star metrics to make the right decision for your business and understand the risks in international trade. We have always the best solution for your needs

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GDP
USD505.98bn (World ranking 24, World Bank 2021)
Population
70.0mn (World ranking 20, World Bank 2021)
Form of state Constitutional Monarchy
Head of government Prayut Chan-o-cha (PM)
Next elections 2023, General election
  • Moderate public debt and acceptable fiscal deficits
  • Appropriate monetary policy management
  • Solid commercial banks with high level of provision and capital
  • Manageable external debt burden
  • Regional trade hub
  • Well diversified economy
  • Exposure to China supportive in the post-Covid recovery
  • Chronic political instability since 2006, with the overthrowing of the elected government in a military coup in May 2014 and ongoing protests since 2020
  • Asset quality of specialized financial institutions is weaker than that of commercial banks
  • Dependence on tourism sector in the context of the Covid-19 pandemic

Trade structure by destination/origin

(% of total, 2020)

Exports Rank Imports
United States 14.9%
1
24.5% China
China 12.9%
2
13.9% Japan
Japan 9.9%
3
7.3% United States
Hong Kong 4.9%
4
5.0% Malaysia
VietNam 4.8%
5
4.0% South Korea

Trade structure by product

(% of total, 2020)

Exports Rank Imports
Electrical machinery, apparatus and appliances, n.e.s. 11.9%
1
14.1% Electrical machinery, apparatus and appliances, n.e.s.
Road vehicles 11.0%
2
9.4% Petroleum, petroleum products and related materials
Office machines and automatic data processing machines 7.8%
3
5.3% Iron and steel
Other industrial machinery and parts 5.1%
4
5.0% Other industrial machinery and parts
Gold, non-monetary (excluding gold ores and concentrates) 4.5%
5
4.2% Manufactures of metal, n.e.s.
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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