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Macroeconomics

Macroeconomics

Facts about Thailand

Population (2020) 66.19 million
ASEAN Population 661 million
Literacy Rate (age 6 and over can read and write) 93%
Minimum Wage 313 - 336 Baht/day
GDP (2020) US$501.8 billion
GDP per Capita (2020) US$7,219.2
GDP Growth (2020) -6.1%
GDP Growth (2021, projected) 2.5% - 3.5%
Export Growth (2020) -6.6%
Export Growth (2021, projected) 5.8%
Trade Balance (2020) US$39.8 billion
Current Account Balance (2020) US$16.5 billion
International Reserves (2020) US$286.48 billion
Industrial Capacity Utilization (2020) 60.98%
Core Inflation (2020) 0.3
Headline Inflation (2020) -0.8
Consumer Price Index (March 2021) (2019=100) 99.11
Corporate Income Tax 10-20%
Withholding Tax 0-15%
Value Added Tax 7%

March 2021 Average Exchange Rates

US$1 30.79 baht
€1 36.65 baht
£1 42.67 baht
100 ¥ 28.35 baht
CNY1 4.74 baht
Source : Office of The National Economic and Social Development Council, Ministry of Commerce, and Bank of ThailandLast updated: April 30, 2021

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