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Macroeconomics

Macroeconomics

Facts about Thailand

Population (2019) 66.56 million
ASEAN Population 661 million
Literacy Rate (age 6 and over can read and write) 93%
Minimum Wage 313 - 336 Baht/day
GDP (2019) US$543.6 billion
GDP per Capita (2019) US$7,841.9
GDP Growth (2019) 2.4%
GDP Growth (2020, projected) -6.0%
Export Growth (2019) -3.3%
Export Growth (2020, projected) -7.5%
Trade Balance (2019) US$26.7 billion
Current Account Balance (2019) US$38.4 billion
International Reserves (2019) US$224.3 billion
Industrial Capacity Utilization (2019) 66.0%
Core Inflation (2019) 0.7
Headline Inflation (2019) 0.7
Consumer Price Index (Dec 2020) (2015=100) 102.34
Corporate Income Tax 10-20%
Withholding Tax 0-15%
Value Added Tax 7%

December 2020 Average Exchange Rates

US$1 30.09 baht
€1 36.60 baht
£1 40.45 baht
100 ¥ 29.02  baht
CNY1 4.62 baht
Source : Office of The National Economic and Social Development Council, Ministry of Commerce, and Bank of ThailandLast updated: January 8, 2021

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