According to allcitypopulation, Thailand is located in Southeast Asia and is bordered by Burma, Laos, Cambodia, and Malaysia. It covers an area of 513,120 square kilometers and has a population of 67 million people. Thailand has a tropical climate with high temperatures year-round and abundant rainfall in the wet season. The terrain is mostly flat with mountains in the northern and western regions. According to Petwithsupplies, the capital city of Thailand is Bangkok with a population of 8,800,000 (excluding suburbs, 2018 estimate). Other major cities include Nakhon Ratchasima with a population of 2,500,000, Samut Prakan with a population of 2,100,000, Khon Kaen with a population of 1,700,000, Ubon Ratchathani with a population of 1,700,000, Chiang Mai with a population of 1,700,000, Chon Buri with a population of 1,700,000 (2018 estimate).
The economy of Thailand is heavily reliant on exports of agricultural goods such as rice, rubber, cassava, maize, coconuts, and sugarcane as well as manufactured goods like automobiles and electronics. Tourism is also an important source of income for the country. In recent years there has been a shift towards higher value-added exports such as medical equipment, electrical appliances and jewelry. The service sector accounts for nearly 60% of GDP while industry accounts for 35%. Agriculture contributes only 5% to GDP but employs 40% of the workforce making it an important sector for poverty reduction. The Thai government has implemented various initiatives to support small businesses such as providing access to credit and tax incentives.
Foreign Trade of Thailand
Thailand is a major exporter in Southeast Asia and has achieved a high level of economic integration with the global economy. The country’s foreign trade accounts for over 70% of its GDP. In 2017, Thailand exported goods worth US$232 billion and imported goods worth US$185 billion, resulting in a trade surplus of US$47 billion. Major exports include electronic components, machinery and parts, vehicles, rubber products and processed food. Major imports include oil and gas, electronic components, machinery and parts, chemicals and plastics.
The top export destinations for Thailand are China (20%), Japan (10%), the United States (8%) and Malaysia (7%). The top import sources are China (23%), Japan (17%), the United States (7%) and Singapore (6%). Thailand also has strong trading links with other ASEAN countries such as Malaysia, Singapore and Indonesia.
The government of Thailand has implemented several measures to boost foreign trade such as providing access to credit for small businesses as well as tax incentives for export-oriented firms. The country has also signed free trade agreements with several countries including Australia, India, Japan and Peru which offer preferential market access for Thai exports.
Major Trading Partners of Thailand
Thailand has strong trading relations with many countries and is one of the most open economies in the world. The country trades with over 200 countries, making it a major player in global trade. According to the World Bank, Thailand’s total exports and imports accounted for 77.5% of its GDP in 2017.
The top export destinations for Thailand are China (20%), Japan (10%), the United States (8%) and Malaysia (7%). The top import sources are China (23%), Japan (17%), the United States (7%) and Singapore (6%). Other important trading partners include Australia, India, South Korea, Indonesia, Vietnam and Saudi Arabia. Thailand also has strong trading links with other ASEAN countries such as Malaysia, Singapore and Indonesia.
In recent years, Thailand has increased its focus on developing closer economic ties with its Asian neighbors. For example, it is a member of several free trade agreements including the ASEAN Free Trade Area which allows for duty-free access to goods traded between members of ASEAN. In addition, it has signed free trade agreements with several countries including Australia, India, Japan and Peru which offer preferential market access for Thai exports.
The Thai government has implemented various initiatives to support small businesses such as providing access to credit and tax incentives which have helped to boost foreign trade. As a result of these efforts, Thailand remains an important player in global trade despite its relatively small size compared to some of its larger trading partners like China and the United States.
Major Imports and Exports of Thailand
Thailand is a major player in global trade, with total exports and imports accounting for 77.5% of its GDP in 2017. The country’s major exports include electronics, automobiles, machinery and parts, rubber products and textiles. Electronics are the top export for Thailand, making up about 20% of the country’s total exports. Other important exports include automobiles (12%), machinery and parts (11%), rubber products (11%) and textiles (7%).
The top import sources for Thailand are China (23%), Japan (17%), the United States (7%) and Singapore (6%). The main imports consist of raw materials such as crude oil, chemicals, plastics and metals as well as consumer goods like foodstuffs, computers, vehicles and apparel. In addition to these goods, Thailand also imports a significant amount of technology products such as semiconductors and other electronic components.
In recent years, Thailand has signed various free trade agreements with countries such as Australia, India, Japan and Peru which offer preferential market access for Thai exports. The country has also implemented various initiatives to support small businesses such as providing access to credit as well as tax incentives for export-oriented firms. These efforts have helped to boost foreign trade in Thailand despite its relatively small size compared to some of its larger trading partners like China and the United States.