The Report: Thailand 2017

Thailand has benefitted from decades of rapid industrial development to become an upper middle-income economy, with GDP growth averaging more than 7% from the 1950s to the 1990s. Growth slowed in 2014, although political stability and solid macroeconomic fundamentals saw the country’s economic recovery continue in 2016, as GDP growth rose to a three-year high and export receipts increased. Manufacturing remains the economic mainstay, propelling the country forward on the strength of its automotive, electronic and agricultural exporters. Looking ahead, the Thailand 4.0 economic development strategy will be a major driver of growth, with an emphasis on innovation and competitiveness. Forecasts indicate an anticipated GDP expansion of about 3.5% in 2017, buoyed by the strong promotion of new industries, high-growth areas such as the Eastern Economic Corridor, and increased spending on infrastructure development and expansion projects.