Thailand Snapshot - PESTLE, SWOT, Risk and Macroeconomic Analysis report is designed to provide in-depth information about Thailand including it’s PESTLE (political, economic, social, technological, legal and environmental), SWOT (Strengths, Weaknesses, Opportunities and Threats) and country risk analysis backed by macroeconomic data.
Thailand is a country located at the center of the Indo-china peninsula in Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by the Andaman Sea and the southern extremity of Burma. Thailand is a constitutional monarchy. Thai's maritime boundaries include Vietnam in the Gulf of Thailand to the southeast, and Indonesia and India in the Andaman Sea to the southwest.
Thailand is expected to have a population of 70.183 million in the year 2023 and expected to reach 70.394 million by 2027, growing at a CAGR of 0.08%.
Thailand’s real gross domestic product (GDP) was THB 10,246.54 billion in 2020 and while recovering from the COVID-19 impact it increased by 1.54% to be around THB 10,407.03 billion in 2021. It is further expected to increase by 3.51% and reach THB 12,802.94 billion by 2027.
Thailand’s unemployment rate was 1% of total labor force in 2022. It is expected to remain constant till 2027.
Thailand’s per capita GDP was USD 7,448.99 whereas purchasing power parity (PPP) based per capita GDP was USD 21,057.275for the year 2022.
In 2022, Thailand government’s revenue was THB 3,366.935 billion whereas the expenditure was THB 4,380.675 billion. This resulted in Thailand government’s net lending / borrowing negative at THB 1,013.741 billion in 2022 indicating that not enough financial resources were made available by the Thailand government to boost economic growth.
The current account balance for Thailand was negative at USD 0.401 billion for the year 2022 and is expected to increase at a CAGR of 123.82% and reach positive USD 22.526 billion by 2027. This positive current account balance indicates that Thailand will become a net lender to the rest of the world till 2027.
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