The
Thailand economy is one of the fastest growing economies in the South East Asian region.
Thailand is regarded as one of the 'Asian Tigers' economies.
The
Thailand economy follows an export led economic model. The
economy of Thailand is the second largest economy in the south Asian region. Exports make up 60% of the total GDP of Thailand. The
Thai economy is based on the principles of free trade. The Thai economic growth is dependent upon the manufacturing industry. The abundant human labor with relatively low wages is the keystones of Thailand's economic success.
Thailand has an open foreign investment policy. However, certain essential functions like transportation, communications and power generation remain under state control.
The diversified manufacturing sector in
Thailand has greatly contributed to the country's continued economic success. A range of industries including computers and electronics, furniture, garment, footwear, processed food, plastic products, toys, gems and jewelry have catapulted the
economy of Thailand to enviable prosperity. The
Thailand economy is also boosted by the export of high technology components like integrated circuits, vehicles and sophisticated electrical appliances. Foreign Direct Investment or FDI makes up 28.7% of GDP of Thailand. Agriculture is Thailand's biggest employer. About 60% of the total Thai population is dependent upon agriculture.
