Although Thailand in recent years has focused on creating a more forward-thinking, modern economy, ranking second only to Singapore in financial clout within the ASEAN block, the country’s agricultural sector still remains a crucial cog in the engine driving the country forward. It continues to capitalise on its long-standing farming tradition and favourable climate as it retains its enviable...
Thailand Agriculture
Chapter | Agriculture from The Report: Thailand 2017
Despite considerable geopolitical volatility, Thailand’s economy remains well diversified, stable and poised for expansion in 2017.
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In its April 2018 Economic Monitor for Thailand, the World Bank reported that GDP growth accelerated to 3.9% in 2017, from 0.91% in 2014, 2.94% in 2015 and 3.23% in 2016. This was the fastest expansion since the 7.24% recorded in 2012, and was driven by strong global growth, increased export revenue and a modest recovery in private consumption.
Despite considerable geopolitical volatility, Thailand’s economy remains well diversified, stable and poised for expansion in 2017.
Chapter | Agriculture from The Report: Thailand 2016
The naturally fertile land central to Thailand’s Chao Phraya river basin, combined with increasingly well-developed infrastructure, serves as a strong foundation for what is a robust agricultural base. These advantages have propelled both small-scale farmers and larger agriculture companies from Thailand into the forefront of global agri-business, with the country ranking among the world’s...
The second-largest economy in ASEAN after Indonesia, Thailand has developed a positive international reputation on the back of its pro-investment policies and well-developed infrastructure, standing as one of the most liberalised and business-friendly markets in the region.
Despite the political and social challenges that marked late 2013, Thailand’s economy has remained stable and is poised for further growth in the coming years. However, concerted action by the public and private sectors will be needed for the country to avoid the middle-income trap of stagnating productivity and to maintain its stance as a top Asian economy.
Chapter | Agriculture from The Report: Thailand 2014
The agriculture sector’s contribution to GDP has fallen from an average of 32.19% during the 1960s to 23.2% in 1980 and 9% in 2000. However, by 2007 the share had risen to 10.7%, and recent estimates have suggested that the sector now accounts for some 13% of GDP. With its products renowned throughout the world, particularly its rice, Thailand has also been an important international granary at...