Thailand

Optimizing growth, constrained by challenges in the business and political environments

B1

LOW 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

Updated in January 2024.

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GDP
USD495.3bn (World ranking 30, World Bank 2022)
Population
71.7mn (World ranking 20, World Bank 2022)
Form of state Constitutional Monarchy
Head of government Srettha Thavisin (PM)
Next elections 2027, legislative
  • Member of the Association of Southeast Asian Nations (ASEAN)
  • Robust domestic consumption
  • Strong FDI inflows as a result of firms diversifying away from China
  • Weaknesses in governance and corruption
  • Deficiency in skilled labor force
  • Weak demographic profile
  • High level of household debt

 

Trade structure by destination/origin

(% of total, 2022)

Exports Rank Imports
United States 16.6%
1
23.8% China
China 12.0%
2
11.6% Japan
Japan 8.6%
3
6.0% United States
Vietnam 4.6%
4
5.8% United Arab Emirates
Malaysia 4.4%
5
4.9% Malaysia

Trade structure by product

(% of total, 2022)

Exports Rank Imports
Road vehicles 10.5%
1
15.6% Petroleum, petroleum products and related materials
Electrical machinery, apparatus and appliances, n.e.s. 9.7%
2
11.1% Electrical machinery, apparatus and appliances, n.e.s.
Office machines and automatic data processing machines 7.7%
3
5.9% Iron and steel
Other industrial machinery and parts 4.8%
4
5.3% Gas, natural and manufactured
Petroleum, petroleum products and related materials 4.7%
5
3.9% Other industrial machinery and parts
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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