Economic Growth in Thailand

  

Economic Growth in Thailand

Thailand is presently industrialized country. It exports lots of product to increase its GDP. The economy o f the country has grown to 6.5 % in the last the last year. In growing the GDP of Thailand the main sectors are industries and services. Moreover, Thailand gets 8.4% of its GDP from agriculture sector. The mining and construction sector add 3.4% to the GDP of the country. Telecommunications and IT services are also growing in the country. The unemployment rate in the country is low and servicing sector of the country is getting much involved in growing GDP of the country.

Agriculture Forestry and Fishing
Thailand has grown its agriculture sector to improve its GDP. The sector employed over 70% of the population in 1980s. Later in 2008, forestry and fishing added much to GDP of the country. Rice is produced at large scale in the country. The country stands among the largest rice exporters to the world. Fish exports are also grown up at the present. The fishing industry provides employment to over 300000 people in the country. So far as forest industry is concerned, the country has got a big blow by placing 25 percent of its area for forests.
Manufacturing Industry
Manufacturing industry of Thailand employs 14% of the population of the country. The industry adds 34.5 percent of the GDP of the country. The industry has got a big blow from 1995 to 2005.
Electronics Industry
15 % of total exports of Thailand include electronic devices. In 2009 the country exported over $33 billion worth electronic products. Hard Disks are manufactured at large scale in the country. In addition the television and radio are also a great source of GDP production in the country. The country is getting a boom in electronic industry. Lots of DSP chips are being made in Thailand and country is determined to improve its electronic sector. With the advancement in technologies the country is also looking for change in production of electrical products.
Automobile Industry
Thailand Automobile industry stands among the leading automobile industries in the world. The country exports over 1.15 million vehicles each year. The leading brands in the country are BMW, Ford, General Motors, Honda, Mazda, Isuzu, MG, Nissan, Mitsubishi, Tata, Toyota, Volvo, Mercedes-Benz and Daihatsu. The country is gaining a huge profit by making developments in this industry. The investors are making way to invest in this sector of the country as the country is known of production of high quality vehicles across the world.
Tourism Industry
Tourism adds much to the GDP of the country. Since 2002, the industry has given a big blow to the growth of the country. The tourism in the country has increased in the country in the last decade. At average over 15 million tourists visit Thailand each year. The country stands in the line of emerging countries and having a grown up GDP value. Investors are getting a chance to invest in different sectors of the country as well.

 

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