THAILAND

GDP -

Economic performance

A contraction in Thailands gross domestic product (GDP) in the first quarter of 2014
was followed by a cautious recovery sufficient for the economy to post marginal growth
of 0.7% for the year. Political unrest and street protests disrupted economic activity into
the first half of 2014, culminating in a military takeover of the government in May.
Various disruptions since 2007 have confined average growth over this period to 2.9%.

Economic prospects
The economy is expected to benefit this year from a relatively calm political
environment, the restoration of government investment, better prospects for exports to
the major industrial economies, and lower fuel costs for businesses and consumers.
These factors are forecast to lift GDP growth to 3.6% in 2015 and 4.1% next year.
In particular, public fixed investment will rise in 2015 after last years decline and is
expected to accelerate in 2016. The interim government has approved an infrastructure
program that includes $95 billion in investments over 8 years in railways, roads, ports,
airports, and special economic zones. This year, public investment will be confined to
relatively small projects, with larger-scale construction to start from next year. The
government plans to offer contracts for mass rapid transit rail lines in Bangkok and for
double-tracking rail lines across the country.

INFLATION In Thailand, the most important categories in the consumer price index are
Food (33 percent of total weight), Transportation and communication (27 percent of total
weight) and Housing and furnishing (23.5 percent of total weight). Others include: Health
care (7 percent); Recreation and education (5 percent), Electricity, fuel and water supply (5
percent) and Apparel and footwear (3 percent). This page provides the latest reported value
for - Thailand Inflation Rate - plus previous releases, historical high and low, short-term
forecast and long-term prediction, economic calendar, survey consensus and news. Content
for - Thailand Inflation Rate - was last refreshed on Saturday, September 12, 2015.

UNEMPLOYMENT RATE - In Thailand, the unemployment rate measures the number of

people actively looking for a job as a percentage of the labour force. This page provides the
latest reported value for - Thailand Unemployment Rate - plus previous releases, historical
high and low, short-term forecast and long-term prediction, economic calendar, survey
consensus and news. Content for - Thailand Unemployment Rate - was last refreshed on
Saturday, September 12, 2015.

GOVERNEMNT REVENUES In a further sign of the weakening Thai economy Prime

Minister General Prayut Chan-o-cha last week told a seminar that local administrations had only
collected about 15 per cent of target revenue leaving up to Bt 300 billion (about US$ 9.112 billion)
outstanding.
In a rambling speech, the Thailand Prime Minister before more than 700 alumni of the Wharton
School, University of Pennsylvania said we are paying around Bt 260 billion (US$ 7.897 billion)
to the local administrations, and there is still around Bt 200 billion to Bt 300 billion left to be
collected.
The shortfall in revenue and need for the central government to advance money to local
administrations is, according to General Chan-o-cha, diverting funds away from other government
investment areas such as infrastructure improvements.
According to the General the government has plans for road and railway improvements across
the country, but lacked the finances to implement them.
If the amount of tax revenue that can be collected by local administrations keeps falling or cannot
be collected, the more money we have to allocate to cover it. That means the money that could
be used for investment on infrastructure and other things would also be gone, he said
Foreshadowing wholesale changes to the countrys taxation system, Thailands prime minister
said the entire system needs to be revised, including land and construction, excise, personal and
corporate taxes. The government is collecting the least tax in Asean, he said.
Lending his support to the Prime Minister, former Asean secretary-general Surin Pitsuwan told the
Wharton Global Forum delegates people want the government to invest in railways, in ports and
in roads, but nobody wants to pay [more] taxes.
Middle-income citizens in urban areas should spend more to support agricultural prices and help
spread income back to the rural areas. People with higher income should bear more of the [tax]
burden, or else development will not take place, he said.

This page provides - Thailand Government Revenues- actual values, historical data, forecast,
chart, statistics, economic calendar and news. Content for - Thailand Government Revenues
- was last refreshed on Saturday, September 12, 2015.

http://www.tradingeconomics.com/thailand/government-revenues

THAILAND INDUSTRIAL PRODUCTION - In Thailand, industrial production

measures the output of businesses integrated in manufacturing sector of the
economy. This page provides the latest reported value for - Thailand Industrial
Production - plus previous releases, historical high and low, short-term forecast and
long-term prediction, economic calendar, survey consensus and news. Content for Thailand Industrial Production - was last refreshed on Saturday, September 12,
2015.

EXPORT - Thailand is an export oriented economy with exports accounting for

around 65 percent of the GDP. The country mainly exports manufactured goods (86
percent of total shipments) with electronics (14 percent, vehicles (13 percent),
machinery and equipment (7.5 percent) and foodstuffs (7.5 percent) being the most
important. Agricultural goods, mainly rice and rubber, account for 8 percent of total
shipments. Major export partners are China (12 percent), Japan (10 percent), the
United States (10 percent) and the European Union (9.5 percent). Others include:
Malaysia, Australia and Singapore. This page provides - Thailand Exports - actual
values, historical data, forecast, chart, statistics, economic calendar and news.
Content for - Thailand Exports - was last refreshed on Saturday, September 12,
2015.

IMPORT - In Thailand, Import Prices correspond to the rate of change in the prices
of goods and services purchased by residents of that country from, and supplied by,
foreign sellers. Import Prices are heavily affected by exchange rates. This page
provides - Thailand Import Prices - actual values, historical data, forecast, chart,
statistics, economic calendar and news. Content for - Thailand Import Prices - was
last refreshed on Saturday, September 12, 2015.

FOREIGN DEBT In Thailand, external debt is a part of the total debt that is owed
to creditors outside the country.. This page provides - Thailand External Debt - actual
values, historical data, forecast, chart, statistics, economic calendar and news.
Content for - Thailand Gross External Debt - was last refreshed on Saturday,
September 12, 2015.