Thailand

Growth driven by tourism recovery

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

Updated in July 2023.

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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 2027, legislative
  • Adequate level of 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
  • Chronic political instability since 2006, with the overthrowing of elected governments in military coups in 2006 and in 2014
  • Asset quality of specialized financial institutions is weaker than that of commercial banks
  • Dependence on tourism sector
  • Business environment has deteriorated to below average

Trade structure by destination/origin

(% of total, 2021)

Exports Rank Imports
United States 15.5%
1
25.2% China
China 13.8%
2
13.5% Japan
Japan 9.3%
3
5.5% United States
Vietnam 4.6%
4
4.5% Malaysia
Malaysia 4.5%
5
4.0% Taiwan

Trade structure by product

(% of total, 2021)

Exports Rank Imports
Electrical machinery, apparatus and appliances, n.e.s. 10.7%
1
12.2% Electrical machinery, apparatus and appliances, n.e.s.
Road vehicles 10.4%
2
11.9% Petroleum, petroleum products and related materials
Office machines and automatic data processing machines 7.6%
3
5.9% Iron and steel
Other industrial machinery and parts 5.0%
4
4.4% Other industrial machinery and parts
Plastics in primary forms 4.7%
5
4.3% Non-ferrous metals
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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