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Macroeconomics

Macroeconomics

Facts about Thailand

Population (2022) 66.1 million
ASEAN Population 672.4 million
Literacy Rate (age 15 and over can read and write) 93.8%
Minimum Wage 328 - 354 Baht/day
GDP (2022) US$495.3 billion
GDP per Capita (2022) US$7,090.9
GDP Growth (2022) 2.6%
GDP Growth (2023, projected) 2.5% - 3.0%
Export Growth (2022) 5.4%
Export Growth (2023, projected) -1.8%
Trade Balance (2022) US$13.5 billion
Current Account Balance (2022) US$-14.7 billion
International Reserves (2022) US$245.81 billion
Industrial Capacity Utilization (2022) 62.8%
Core Inflation (2022) 2.5
Headline Inflation (2022) 6.1
Consumer Price Index (Aug 2023) (2019=100) 108.41
Corporate Income Tax 10-20%
Withholding Tax 0-15%
Value Added Tax 7%

August 2023 Average Exchange Rates

US$1 35.05 baht
€1 38.21 baht
£1 44.53 baht
100 ¥ 24.21 baht
CNY1 4.83 baht

Source :  Office of The National Economic and Social Development Council, Ministry of Commerce, and Bank of Thailand

Last updated: September 19th, 2023

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