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Economy of Thailand

Thailand, formally the kingdom of Thailand was previously known as Siam, is a sovereign nation based in the middle of Indochina peninsula in Southeast Asia. It is connected to the north with Burma and Laos in the eastern region. Bangkok is the capital and the largest city of Thailand. The GDP of Thailand in terms of purchasing power parity (PPP) is $673 billion as of 2013, which is the 25th largest when compared to the rest of world. They have advanced substructure, a free-enterprise economy, usually pro-investment procedures, and robust export businesses. The economy of Thailand has been increasingly growing up at a rapid pace courtesy of its stable condition of industrial sector. People of Thailand are dedicated and hardworking, which is the reason why Thailand is denoted as prosper society. The large volume of industrial capitals and agriculture exports of country are responsible for the growth of Thailand. From many, some of the major agricultural products of Thailand include corn, sugarcane, coconuts and soya beans. The predominant industries of Thailand include tourism, textiles, garments, beverages, tobacco, cement, light, jewelry, computers, parts, automotive parts and furniture. The fiscal year of Thailand starts from 1st October and ends up 30th September.

Imports of Thailand

The estimated import value of Thailand is $219 billion as of $219 billion, which is the 24th largest when compared to the import values of rest of the nations. The major import commodities of Thailand include capital goods, intermediate goods, raw materials, consumer goods and fuels. Japan, China, UAE and Malaysia are the major import partners of Thailand.

Exports of Thailand

Thailand believes to have far-reaching trade with foreign countries for the betterment of its economy. The export value of Thailand is $225.4 billion as per the calculation of 2013. Thailand is the twenty-sixth largest export of the world. The major export commodities of Thailand include electronics, computer parts, automobiles, footwear, textile, rubber and fishery products. China, Japan, United States of America, Hong Kong, Malaysia, Indonesia and Australia are the major export partners of Thailand.

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Dialing Code
Fiscal Year
1 October - 30 September
$244.4 billion (2011 est.) | Textiles And Footwear, Fishery Products, Rice, Rubber, Jewelry, Automobiles, Computers And Electrical Appliances
$214.6 billion (2011 est.) | Capital Goods, Intermediate Goods And Raw Materials, Consumer Goods, Fuels
Tourism, Textiles And Garments, Agricultural Processing, Beverages, Tobacco, Cement, Light Manufacturing Such As Jewelry And Electric Appliances, Computers And Parts, Integrated Circuits, Furniture, Plastics, Automobiles And Automotive Parts; Worlds Second-largest Tungsten Producer And Third-largest Tin Producer