Diplomatic representation: Ambassador VITTHYA VEJJAJIVA; Embassy at 2300 Kalorama Road NW, Washington DC 20008; telephone (202) 483-7200; there are Thai Consulates General in Chicago, Los Angeles, and New York; US—Ambassador Daniel O'DONAHUE; Embassy at 95 Wireless Road, Bangkok (mailing address is APO San Francisco 96346); telephone [66] (2) 252-5040; there is a US Consulate General in Chiang Mai and Consulates in Songkhla and Udorn
Flag: five horizontal bands of red (top), white, blue (double width), white, and red
- Economy Overview: Thailand, one of the more advanced developing countries in Asia, enjoyed its second straight exceptionally prosperous year in 1989. Real output again rose about 11%. The increasingly sophisticated manufacturing sector benefited from export-oriented investment, and agriculture grew by 4.0% because of improved weather. The trade deficit of $5.2 billion was more than offset by earnings from tourism ($3.9 billion), remittances, and net capital inflows. The government has followed a fairly sound fiscal and monetary policy, aided by increased tax receipts from the fast-moving economy. In 1989 the government approved new projects—roads, ports, electric power, communications—needed to refurbish the now overtaxed infrastructure. Although growth in 1990-91 must necessarily fall below the 1988-89 pace, Thailand's immediate economic outlook is good, assuming the continuation of prudent government policies in the context of a private-sector-oriented development strategy.
GNP: $64.5 billion, per capita $1,160; real growth rate 10.8% (1989 est.)
Inflation rate (consumer prices): 5.4% (1989)
Unemployment rate: 6% (1989 est.)
Budget: revenues $12.1 billion; expenditures $9.7 billion, including capital expenditures of NA (FY89)
Exports: $19.9 billion (f.o.b., 1989); commodities—textiles 12%, fishery products 12%, rice 8%, tapioca 8%, jewelry 6%, manufactured gas, corn, tin; partners—US 18%, Japan 14%, Singapore 9%, Netherlands, Malaysia, Hong Kong, China (1988)
Imports: $25.1 billion (c.i.f., 1989); commodities—machinery and parts 23%, petroleum products 13%, chemicals 11%, iron and steel, electrical appliances; partners—Japan 26%, US 14%, Singapore 7%, FRG, Malaysia, UK (1987)
External debt: $18.5 billion (December 1989 est.)