Diplomatic representation from the US: chief of mission : Ambassador William H. ITOH embassy: 120/22 Wireless Road, Bangkok mailing address: APO AP 96546 telephone: [66] (2) 205-4000 FAX : [66] (2) 254-2990 consulate(s) general: Chiang Mai
Flag description: five horizontal bands of red (top), white, blue (double width), white, and red
Economy
Economy - overview: One of the more advanced developing countries in Asia, Thailand depends on exports of manufactures - including high-technology goods - and the development of the service sector to fuel the country's rapid growth, averaging 9% since 1989. Most of Thailand's recent imports have been for capital equipment and raw materials, although imports of consumer goods are beginning to rise. Thailand's 35% domestic savings rate is a key source of capital for the economy, and the country is also benefiting from rising investment from abroad. Prime Minister CHAWALIT's government - Thailand's seventh government in six years - will continue Bangkok's probusiness policies and reemphasize Bangkok's traditional fiscal austerity. CHAWALIT is beginning to address Thailand's serious infrastructure bottlenecks, especially in the transport and telecommunications sectors. Over the longer term, Bangkok must produce more college graduates with technical training and upgrade workers' skills to continue its rapid economic development.
GDP: purchasing power parity - $455.7 billion (1996 est.)
GDP - real growth rate: 6.7% (1996 est.)
GDP - per capita: purchasing power parity - $7,700 (1996 est.)
GDP - composition by sector: agriculture: 10.5% industry: 30.5% services: 59% (1996 est.)
Inflation rate - consumer price index: 5.9% (1996 est.)
Labor force: total: 34.03 million (1996 est.) by occupation: agriculture 57%, industry 17%, commerce 11%, services (including government) 15% (1993 est.)