Thailand is the second-largest economy in the Asean region and the world’s largest rice exporter, second-largest tungsten producer and third-largest tin producer. It is classified as a lower middle-income country and continues to make rapid economic and social progress.
The government’s infrastructural investment programme, together with stimulus packages on consumption, public and private investments and export, are all designed to boost Thailand’s gross domestic product and overall economy.
Economic development targets include the promotion of energy, petroleum and renewable energy industries as a new industry strategy; a doubling of tourism revenue with five years; an expansion of the role of agricultural and food businesses and to attract investment in building public infrastructure and new cities.
An open foreign investment policy designed to attract foreign investment in the high value technology manufacturing service sectors has resulted in Foreign Direct Investment (FDI) contributing 28.7% of GDP. Exports, such as high technology integrated circuits, vehicles and sophisticated electrical devices, make up 60% of total GDP
S&P rating BBB+