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Macroeconomics

Macroeconomics

Facts about Thailand

Population (2023) 66.05 million
ASEAN Population 671.7 million
Literacy Rate (age 15 and over can read and write) 93.8%
Minimum Wage 330 - 400 Baht/day
GDP (2023) US$514.8 billion
GDP per Capita (2023) US$7,349.6
GDP Growth (2023) 1.9%
GDP Growth (2024, projected) 2.0% - 3.0%
Export Growth (2023) -1.7%
Export Growth (2024, projected) 2.0%
Trade Balance (2023) US$17.0 billion
Current Account Balance (2023) US$243 billion
International Reserves (Nov 2024) US$264.5 billion
Industrial Capacity Utilization (2023) 59.06%
Core Inflation (2023) 1.27
Headline Inflation (2023) 1.23
Consumer Price Index (Nov 2024) (2019=100) 108.47
Corporate Income Tax 10 - 20%
Withholding Tax 0 - 15%
Value Added Tax 7%

November 2024 Average Exchange Rates

US$1 34.61 baht
€1 36.97 baht
£1 44.35 baht
JPY100 22.77 baht
CNY1 4.85 baht

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

Last updated: December 12th, 2024

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