After enjoying the world's highest growth rate from 1985 to 1995 - averaging almost 9% annually - increased speculative pressure on Thailand's currency in 1997 led to a crisis that uncovered financial sector weaknesses and forced the government to float the Baht.

Long pegged at 25 to the dollar, the Baht reached its lowest point of 56 to the dollar in January 1998 and the economy contracted by 10.2% that same year. Thailand entered a recovery stage in 1999, expanding 4.2% and grew about the same amount in 2000, largely due to strong exports - which increased about 20% in 2000. An ailing financial sector and the slow pace of corporate debt restructuring, combined with a softening of global demand, is likely to slow growth in 2002.

Thailand Natural Resources

Natural resources include tin, rubber, natural gas, tungsten, tantalum, timber, lead, fish, gypsum, lignite and fluorite. Thailand is the world's second largest tungsten producer and third largest tin producer. Industries include tourism, textiles and garments, agricultural processing, beverages, tobacco, cement, light manufacturing, jewelry, electric appliances, computers and parts, integrated circuits, furniture and plastics. Main agricultural products are rice, cassava (tapioca), rubber, corn, sugarcane, coconuts and soybeans.

Thailand Major Export & Import

Major exports are manufactures, agricultural products and fisheries.
Major imports are capital goods, consumer goods and fuels.

For more information, please do not hesitate to CONTACT US.