Economy

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In what became known as a foundation speech for the idea of the sufficiency economy, in December 1997, the king said that what was important was not being a “tiger” but having “a sufficient economy” to take care of the whole population. The sufficiency economy places sustainability at the very core of its thinking, advancing a different approach from that of short-term, shareholder value-...

Although buoyed by decades of steady expansion, Thailand – South-east Asia’s second-largest economy – saw growth falter in recent years in the wake of political unrest and challenging external conditions. However, falling global oil prices combined with stimulus packages benefited the economy and spurred a moderate recovery in 2015. The government is set to launch 20 infrastructure projects...

Trade and investment have witnessed robust growth in Thailand over the past 30 years, as rapid industrial development led manufacturing to overtake agriculture as a primary economic engine. This has had a dramatic impact on exports, with the country rising to become a major regional exporter of electronics, automotive parts and food products. Trade relations have also expanded in recent years...