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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$501.6 billion
GDP per Capita (2020) US$7,216.6
GDP Growth (2020) -6.1%
GDP Growth (2021, projected) 0.7% - 1.2%
Export Growth (2020) -6.5%
Export Growth (2021, projected) 16.3%
Trade Balance (2020) US$40.9 billion
Current Account Balance (2020) US$17.6 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 (Aug 2021) (2019=100) 99.63
Corporate Income Tax 10-20%
Withholding Tax 0-15%
Value Added Tax 7%

August 2021 Average Exchange Rates

US$1 33.12 baht
€1 38.98 baht
£1 45.70 baht
100 ¥ 30.18 baht
CNY1 5.12 baht
Source : Office of The National Economic and Social Development Council, Ministry of Commerce, and Bank of ThailandLast updated: September 23, 2021

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