Country Profile – Thailand | ANDAMAN PARTNERS

Country Profiles

Thailand

August 18, 2025

NOTE: This is a brief summary of the full Country Profile, which can be viewed or downloaded at the link below.

Thailand’s USD 536 billion economy expanded by 2.5% in 2024, buoyed by a rebound in exports and tourism, substantial fiscal stimulus and an accommodative monetary policy.

Vietnam has a total land area of 511,000 square kilometres.

Government is a constitutional monarchy.

With GDP rising from USD 526 billion in 2024 to an estimated USD 546 billion in 2025 and per‑capita GDP reaching almost USD 7,500 in 2024, the Thai economy is increasingly services‑driven: Services accounted for over 59% of GDP in 2024, the highest recorded level.

The Thai economy is resilient with low unemployment rates and controlled inflation, reflecting a steady recovery from COVID-19. In 2025, the unemployment rate was 1.1% and inflation fell to 0.5%.

Thailand’s central government debt increased from 38.6% in 2019 to 61.2% of GDP in 2023, while household consumption remained a robust anchor, steadily climbing to nearly USD 297 billion by 2023.

Thailand’s total trade expanded from about USD 475 billion in 2012 to over USD 600 billion by 2024, driven by the trade in Metals, Electronics & Machinery, highlighting the deepening integration of its economy into global supply chains.

Leading export partners (2024): U.S. (USD 55.1 billion), China (USD 35.2 billion), Japan (USD 23.3 billion).

Leading import partners (2024): China (USD 80.6 billion), Japan (USD 28.7 billion), Taiwan, China (USD 20.7 billion).

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