Thailand is a newly industrialized country. Its economy is heavily export-dependent, with exports accounting for more than two-thirds of its gross domestic product (GDP). In 2012, according to the Office of the National Economic and Social Development Board, Thailand had a GDP of THB11.375 trillion (USD366 billion). The Thai economy grew by 6.5 percent, with a headline inflation rate of 3.02 percent and an account surplus of 0.7 percent of the country's GDP. In 2013, the Thai economy is expected to grow in the range of 3.8-4.3 percent. During the first half of 2013 (Q1-Q2/2013), the Thai economy grew by 4.1 percent (YoY). After seasonally adjusted, however, the Thai GDP contracted by 1.7 percent and 0.3 percent in the first and the second quarters of 2013, respectively. Given a contraction in two consecutive quarters, technically speaking, the Thai economy is now in recession. The industrial and service sectors are the main sectors in the Thai gross domestic product, with the former accounting for 39.2 percent of GDP. Thailand's agricultural sector produces 8.4 percent of the GDP – lower than the trade and logistics and communication sectors, which account for 13.4 percent and 9.8 percent of GDP respectively. The construction and mining sector adds 4.3 percent to the country’s gross domestic product. Other service sectors (including the financial, education and hotel and restaurant sectors) account for 24.9 percent of the country's GDP. Telecommunications and trade in services are emerging as centers of industrial expansion and economic competitiveness. This video is targeted to blind users. Attribution: Article text available under CC-BY-SA Creative Commons image source in video

• published: 03 Dec 2014
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