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@Thailand:Economy
Overview: Thailand's economy recovered rapidly from the political unrest in May 1992 to post an impressive 7.5% growth rate for the year, 7.8% in 1993, and 8% in 1994. One of the more advanced developing countries in Asia, Thailand depends on exports of manufactures and the development of the service sector to fuel the country's rapid growth. Much of Thailand's recent imports have been for capital equipment, suggesting that the export sector is poised for further growth. With foreign investment slowing, Bangkok is working to increase the generation of domestic capital. Prime Minister CHUAN's government - Thailand's fifth government in less than three years - is pledged to continue Bangkok's probusiness policies, and the return of a democratically elected government has improved business confidence. Even so, CHUAN must overcome divisions within his ruling coalition to complete much needed infrastructure development programs if Thailand is to remain an attractive place for business investment. Over the longer-term, Bangkok must produce more college graduates with technical training and upgrade workers' skills to continue its rapid economic development.
National product: GDP - purchasing power parity - $355.2 billion (1994 est.)
National product real growth rate: 8% (1994 est.)
National product per capita: $5,970 (1994 est.)
Inflation rate (consumer prices): 5% (1994 est.)
Unemployment rate: 3.2% (1993 est.)
Budget:
revenues: $28.4 billion
expenditures: $28.4 billion, including capital expenditures of $9.6
billion (FY94/95 est.)
Exports: $46 billion (f.o.b., 1994 est.) commodities: machinery and manufactures 83%, agricultural products and fisheries 16%, others 1% (1994 est.) partners: US 22%, Japan 17%, Singapore 12%, Hong Kong 5%, Germany 4% (1993)