The Main Industries of Thailand

Thailand is a newly industrialised country, meaning it has outpaced developing nations and is presently undergoing rapid economic growth. The country has a gross domestic product (GDP) of more than 408 billion pounds, making it Southeast Asia-s second largest economy after Indonesia. It is also the fourth richest nation in the region.

Thailand-s varied industries all attribute to this economic stability. A majority of its labour force is working in agriculture, fishing, and forestry. However, these industries only contribute 8.4 percent to the country-s GDP.

Mining for minerals is also a big income generator, producing more than 482 million pounds. Thailand used to be a major importer of tin until the industry declined in 1985. Today, it is the world-s second largest exporter of gypsum after Canada.

Industry and manufacturing companies employ only 14 percent of the workforce but contribute about 43.9 percent of the country-s GDP. The services sector, on the other hand, utilises 37 percent of the labour force and contributes 44.7 percent of the GDP. At present, Thailand is one of the major centres of automotive manufacturing in the Southeast Asian region. In fact, in 2004, automobile production reached 930,000 units and continues to rise until this day.

Because Thailand is gifted with beautiful beaches, lush forests, wondrous sites, and exotic culture, tourism is becoming a major financial contributor to the country-s economy. In 2007 alone, 14.5 million tourists visited Thailand. Today, a lot of expatriates are making Thailand their new home.

Thus, foreign investors will find Thailand a perfectly viable and suitable place for their businesses. With a robust and resilient economy, this beautiful and progressive country is expected to rise and join the ranks of first-world nations like Japan, the United States, and the countries of the European Union in the future.