Format

II. Economic Analysis

(Thailand)

A. General Economic Data

Thailand Economy Data

2012 2013 2014 2015 2016

Population (million) 68.0 68.3 68.7 68.8 69.0

GDP per capita (USD) 5,845 6,175 5,925 5,788 5,907

GDP (USD bn) 397 422 407 398 407

Economic Growth (GDP, annual variation in %) 7.2 2.7 0.9 2.9 3.2

Consumption (annual variation in %) 6.7 0.9 0.9 2.2 3.1

Investment (annual variation in %) 10.7 -1.0 -2.2 4.4 2.8

Manufacturing (annual variation in %) 10.6 2.3 -3.8 - -

Retail Sales (annual variation in %) 19.0 -0.3 -6.0 0.1 3.0

Unemployment Rate 0.5 0.6 0.6 0.7 0.8

Fiscal Balance (% of GDP) -4.1 -2.2 -2.0 -2.4 -2.7

Public Debt (% of GDP) 40.2 42.2 42.6 43.9 41.2

Money (annual variation in %) 13.0 3.9 1.3 5.7 4.8

Inflation Rate (CPI, annual variation in %, eop) 3.6 1.7 0.6 -0.9 1.1

Inflation Rate (CPI, annual variation in %) 3.0 2.2 1.9 -0.9 0.2
 2012 2013 2014 2015 2016

Inflation (PPI, annual variation in %) 1.0 0.3 0.1 - -

Policy Interest Rate (%) 2.75 2.25 2.00 1.50 1.50

Stock Market (annual variation in %) 12.4 36.0 -13.6 24.1 -17.7

Exchange Rate (vs USD) 30.58 32.76 32.92 36.04 35.78

Exchange Rate (vs USD, aop) 31.04 30.68 32.44 34.21 35.24

Current Account (% of GDP) -0.4 -1.2 3.7 8.1 11.7

Current Account Balance (USD bn) -1.6 -4.9 15.1 32.1 47.7

Trade Balance (USD billion) 0.1 0.2 17.2 26.8 36.6

Exports (USD billion) 228 228 227 214 214

Imports (USD billion) 227 228 210 187 178

Exports (annual variation in %) 2.5 0.3 -0.6 -5.9 0.4

Imports (annual variation in %) 8.4 0.3 -8.1 -11.0 -4.8

International Reserves (USD) 182 167 157 157 172

External Debt (% of GDP) 32.9 33.7 34.8 33.0 32.2

Thailand | Economic Indicators

Overview Last Reference Previous Range Frequency

GDP Growth Rate 1.3 % Jun/17 1.3 -6.3 : 9.6 Quarterly

Overview Last Reference Previous Range Frequency

Unemployment Rate 1.2 % Sep/17 1.1 0.39 : 5.73 Monthly

Inflation Rate 0.86 % Oct/17 0.86 -4.38 : 24.56 Monthly

Interest Rate 1.5 % Sep/17 1.5 1.25 : 5 Daily

Balance of Trade 3358 USD Million Sep/17 2090 -5916 : 4974 Monthly

Government Debt to GDP 41.2 % Dec/16 43.9 15.2 : 57.8 Yearly

Markets Last Reference Previous Range Frequency

Currency 33.11 Nov/17 33.19 20.36 : 55.5 Daily

Stock Market 1091 points Nov/17 1095 636 : 1105 Daily

Government Bond 10Y 2.38 % Oct/17 2.38 1.58 : 6.72 Daily

GDP Last Reference Previous Range Frequency

GDP Growth Rate 1.3 % Jun/17 1.3 -6.3 : 9.6 Quarterly

GDP Annual Growth Rate 3.7 % Jun/17 3.3 -12.5 : 15.4 Quarterly

GDP 407 USD Billion Dec/16 399 2.76 : 421 Yearly

GDP Constant Prices 2537644 THB Jun/17 2505078 1043930 : Quarterly

Million 2537644

Gross National Product 4839 THB Billion Dec/14 4693 911 : 4839 Yearly

Gross Fixed Capital 604883 THB Million Jun/17 622116 258609 : 713853 Quarterly
Formation

GDP per capita 5901 USD Dec/16 5734 571 : 5901 Yearly

GDP per capita PPP 15682 USD Dec/16 15237 6650 : 15682 Yearly

GDP From Agriculture 141069 THB Million Jun/17 127931 66849 : 141069 Quarterly
Overview Last Reference Previous Range Frequency

GDP From Construction 69317 THB Million Jun/17 74998 36619 : 103692 Quarterly

GDP From Manufacturing 687873 THB Million Jun/17 683417 269359 : 688534 Quarterly

GDP From Mining 56248 THB Million Jun/17 58444 20064 : 62653 Quarterly

GDP From Public 128379 THB Million Jun/17 128776 41767 : 128776 Quarterly
Administration

GDP From Transport 266670 THB Million Jun/17 257935 64995 : 266670 Quarterly

GDP From Utilities 81073 THB Million Jun/17 79817 22202 : 82457 Quarterly

Labour Last Reference Previous Range Frequency

Unemployment Rate 1.2 % Sep/17 1.1 0.39 : 5.73 Monthly

Employed Persons 37786 Thousand Sep/17 37600 30377 : 39973 Monthly

Unemployed Persons 443 Thousand Sep/17 425 158 : 1923 Monthly

Job Vacancies 31277 Aug/17 37985 12620 : 115636 Monthly

Wages 13620 THB/Month Jun/17 13416 6344 : 13963 Quarterly

Minimum Wages 305 THB/Day Dec/17 300 12 : 305 Yearly

Wages in Manufacturing 12188 THB/Month Mar/17 12722 5516 : 12722 Quarterly

Population 65.93 Million Dec/16 65.73 27.36 : 65.93 Yearly

Labour Costs 99.99 Index Points Jun/17 97.15 90.23 : 110 Quarterly

Productivity 111 Index Points Jun/17 117 92.9 : 147 Quarterly

Youth Unemployment Rate 5.2 % Jan/17 3.5 2.5 : 5.8 Monthly

Prices Last Reference Previous Range Frequency

Inflation Rate 0.86 % Oct/17 0.86 -4.38 : 24.56 Monthly

Overview Last Reference Previous Range Frequency

Inflation Rate Mom 0.16 % Oct/17 0.58 -3 : 4 Monthly

Consumer Price Index CPI 101 Index Points Oct/17 101 18.8 : 102 Monthly

Core Consumer Prices 102 Index Points Oct/17 101 45.4 : 107 Monthly

Core Inflation Rate 0.58 % Oct/17 0.53 -1.12 : 8.54 Monthly

GDP Deflator 150 Index Points Jun/17 145 73.83 : 152 Quarterly

Producer Prices 102 Index Points Sep/17 101 49.6 : 109 2005=100,
Monthly

Export Prices 105 Index Points Aug/17 105 75.94 : 110 Monthly

Import Prices 94.23 Index Points Aug/17 94.74 67.79 : 103 Monthly

Food Inflation 0.4 % Oct/17 0.06 -7.05 : 26.34 Monthly

CPI Housing Utilities 99.73 Index Points Oct/17 99.69 27.3 : 100 Monthly

CPI Transportation 101 Index Points Oct/17 101 17.4 : 117 Monthly

Money Last Reference Previous Range Frequency

Interest Rate 1.5 % Sep/17 1.5 1.25 : 5 Daily

Money Supply M0 1302767 THB Aug/17 1288979 280977 : Monthly

Million 1339964

Money Supply M1 1854 THB Billion Aug/17 1840 366 : 1902 Monthly

Money Supply M3 18602 THB Billion Aug/17 18586 5078 : 18602 Monthly

Banks Balance Sheet 18142798 THB Aug/17 18008322 14874369 : Monthly

Million 18142798

Foreign Exchange Reserves 199304 USD Million Sep/17 196914 326 : 199304 Monthly

Loans to Private Sector 3892471 THB Aug/17 3900878 1701089 : Monthly

Million 3907727

Deposit Interest Rate 1.4 % Dec/16 1.4 1 : 13.67 Yearly

Overview Last Reference Previous Range Frequency

Central Bank Balance Sheet 7291032 THB Aug/17 7069181 2103522 : Monthly
Million 7291032

Interbank Rate 1.57 % Oct/17 1.57 1.35 : 5.41 Daily

Trade Last Reference Previous Range Frequency

Balance of Trade 3358 USD Million Sep/17 2090 -5916 : 4974 Monthly

Exports 21810 USD Million Sep/17 21219 1997 : 21810 Monthly

Imports 18450 USD Million Sep/17 19128 2760 : 24938 Monthly

Current Account 6290 USD Million Sep/17 4660 -3745 : 7913 Monthly

Current Account to GDP 11.5 % Dec/16 8 -8.3 : 12.7 Yearly

External Debt 140510 USD Million Jun/17 134767 58985 : 144919 Quarterly

Terms of Trade 111 Index Points Aug/17 111 96.39 : 115 Monthly

Tourist Arrivals 3133410 Aug/17 3088040 399600 : Monthly

3197050

Gold Reserves 152 Tonnes Jun/17 152 72.59 : 152 Quarterly

Crude Oil Production 247 BBL/D/1K Mar/17 246 46 : 273 Monthly

Foreign Direct Investment 10085 THB Million Jul/17 15530 -95430 : 125801 Monthly

Remittances 10427 THB Billion Aug/17 9972 2316 : 11221 Monthly

Terrorism Index 6.71 Dec/15 7.28 4.1 : 7.28 Yearly

Government Last Reference Previous Range Frequency

Government Debt to GDP 41.2 % Dec/16 43.9 15.2 : 57.8 Yearly

Government Budget -2.7 % of GDP Dec/16 -2.5 -5.1 : 4.9 Yearly

Overview Last Reference Previous Range Frequency

Government Budget Value 132818 THB Million Jun/17 28606 -252799 : 217720 Monthly

Government Spending 392284 THB Million Jun/17 395978 113953 : 397726 Quarterly

Government Revenues 186720 THB Million Aug/17 162014 14663 : 350154 Monthly

Fiscal Expenditure 137950 THB Million Aug/17 198735 15678 : 409064 Monthly

Credit Rating 63.26 : Monthly

Military Expenditure 6047 USD Million Dec/16 5733 364 : 6047 Yearly

Business Last Reference Previous Range Frequency

Business Confidence 50.6 Oct/17 52.2 34.4 : 55.7 Monthly

Industrial Production 4.21 % Sep/17 4.23 -30.1 : 56.5 Monthly

Industrial Production Mom 2.7 % Aug/17 1.1 -26.6 : 28.9 Monthly

Capacity Utilization 62.98 Index Points Aug/17 61.48 42.11 : 70.09 Monthly

Changes in Inventories -53728 THB Million Jun/17 -66586 -163150 : 118399 Quarterly

Car Registrations 34906 Cars Aug/17 25769 1690 : 66668 Monthly

Leading Economic Index 161 Index Points Aug/17 160 83.61 : 161 Monthly

Internet Speed 15999 KBps Mar/17 13349 780 : 15999 Quarterly

IP Addresses 2822892 IP Mar/17 2718483 780307 : Quarterly

3513472

Car Production 177415 Aug/17 159091 23695 : 256581 Monthly

Cement Production 3054 Thousands of Aug/17 3475 522 : 4211 Monthly

Ton

Coincident Index 130 Index Points Sep/17 130 92.64 : 131 Monthly

Competitiveness Index 4.72 Points Dec/18 4.64 4.51 : 4.75 Yearly

Competitiveness Rank 32 Dec/18 34 28 : 39 Yearly

Overview Last Reference Previous Range Frequency

Corruption Index 35 Points Dec/16 38 27.9 : 38 Yearly

Corruption Rank 101 Dec/16 76 34 : 102 Yearly

Ease of Doing Business 26 Dec/17 46 12 : 46 Yearly

Manufacturing Pmi 49.8 Oct/17 50.3 48.2 : 50.6 Monthly

Total Vehicle Sales 77592 Sep/17 67965 5338 : 157527 Monthly

Consumer Last Reference Previous Range Frequency

Consumer Confidence 75 Sep/17 74.5 39.7 : 112 Monthly

Retail Sales YoY 10.6 % Aug/17 8.1 -19.1 : 52.9 Monthly

Consumer Spending 1296708 THB Jun/17 1282259 579972 : Quarterly

Million 1296708

Disposable Personal Income 7550115 THB Dec/15 7434419 1445598 : Yearly

Million 7550115

Personal Savings 8.7 % Dec/16 8.9 5.5 : 16.1 Yearly

Bank Lending Rate 7% Sep/17 7 5.75 : 16.5 Monthly

Consumer Credit 3947347 THB Jun/17 3895478 2960079 : Quarterly

Million 3947347

Gasoline Prices 1.02 USD/Liter Aug/17 0.99 0.3 : 1.62 Monthly

Households Debt To Gdp 69.2 % of GDP Mar/17 70.2 25.4 : 71.6 Quarterly

Personal Spending 1.1 % Sep/17 0.6 -5.8 : 5.4 Monthly

Housing Last Reference Previous Range Frequency

Housing Index 131 Index points Aug/17 131 91.6 : 135 Monthly

Housing Starts 5643 Jul/17 11503 1267 : 24699 Monthly

Taxes Last Reference Previous Range Frequency

Corporate Tax Rate 20 % Dec/16 20 20 : 30 Yearly

Personal Income Tax Rate 35 % Dec/16 35 35 : 37 Yearly

Sales Tax Rate 7% Dec/16 7 7:7 Yearly

Social Security Rate 10 % Dec/16 10 8 : 10 Yearly

Social Security Rate For 5% Dec/16 5 4:5 Yearly

Companies

Social Security Rate For 5% Dec/16 5 4:5 Yearly

Employees

Thailand | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Thailand including a long-term outlook for the next
decades, plus medium-term expectations for the next four quarters and short-term market
predictions for the next release affecting the Thailand economy.

Overview Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

GDP Growth Rate 1.30 1 1 0.9 0.9 0.8 percent [+]

Overview Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Unemployment Rate 1.20 1.4 1.5 1.6 1.3 2.2 percent [+]

Inflation Rate 0.86 0.9 1.3 1.4 1.5 2.2 percent [+]

Interest Rate 1.50 1.5 1.5 1.5 1.75 2.25 percent [+]

Balance of Trade 3358.25 414 3445 3445 798 135 USD Million [+]

Government Debt to GDP 41.20 52 47 47 38.7 46 percent [+]

MARKETS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Currency 33.11 33.15 32.81 32.48 32.14 28.46 [+]

Stock Market 1091.05 1070 1060 1050 1040 919 points [+]

Government Bond 10Y 2.38 2.32 2.35 2.37 2.39 2.65 percent [+]

GDP Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

GDP Growth Rate 1.30 1 1 0.9 0.9 0.8 percent [+]

GDP Annual Growth Rate 3.70 3.5 3.1 3.3 3.9 3 percent [+]

GDP 406.84 420 436 436 392 448 USD Billion [+]

GDP Constant Prices 2537644.00 2547271 2577239 2591350 2556565 2783469 THB Million [+]

Gross National Product 4839.07 5600 5800 5800 4908 6300 THB Billion [+]

Gross Fixed Capital Formation 604883.00 631959 658510 658510 568015 750325 THB Million [+]
Overview Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

GDP per capita 5901.40 5983 6031 6031 6031 6114 USD [+]

GDP per capita PPP 15681.80 15869 15647 15647 15964 16200 USD [+]

GDP From Agriculture 141069.00 126000 134500 130974 132764 145000 THB Million [+]

GDP From Construction 69317.00 85900 82000 83649 66695 100200 THB Million [+]

GDP From Manufacturing 687873.00 702000 710000 720000 683104 731000 THB Million [+]

GDP From Mining 56248.00 61700 61800 64000 54522 65500 THB Million [+]

GDP From Public 128379.00 139000 138000 138000 128203 151000 THB Million [+]
Administration

GDP From Transport 266670.00 261000 252000 252000 272809 332000 THB Million [+]

GDP From Utilities 81073.00 91700 90100 90100 80151 111000 THB Million [+]

LABOUR Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Unemployment Rate 1.20 1.4 1.5 1.6 1.3 2.2 percent [+]

Employed Persons 37786.50 38700 38200 39576 37560 39500 Thousand [+]

Unemployed Persons 443.40 350 418 418 495 458 Thousand [+]

Job Vacancies 31277.00 38468 33100 33100 40277 42022 [+]

Wages 13619.97 14200 14100 14200 13457 14800 THB/Month [+]

Wages in Manufacturing 12188.00 12850 12320 12670 12820 13770 THB/Month [+]
Overview Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Minimum Wages 305.00 305 340 340 304 420 THB/Day [+]

Population 65.93 66.2 66.26 66.33 66.4 66.75 Million [+]

Labour Costs 99.99 103 104 104 99.79 104 Index Points [+]

Productivity 111.19 109 116 116 112 111 Index Points [+]

Youth Unemployment Rate 5.20 3.8 5.3 5.3 4.37 4.8 percent [+]

PRICES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Inflation Rate 0.86 0.9 1.3 1.4 1.5 2.2 percent [+]

Inflation Rate Mom 0.16 0.3 0.2 0.2 0.31 0.1 percent [+]

Consumer Price Index CPI 101.38 101 101 101 102 105 Index Points [+]

Core Consumer Prices 101.53 108 109 109 102 111 Index Points [+]

Core Inflation Rate 0.58 0.6 0.85 1 1.14 1.5 percent [+]

GDP Deflator 149.79 149 146 146 149 163 Index Points [+]

Producer Prices 102.00 108 109 109 102 124 Index Points [+]

Export Prices 104.56 121 123 123 103 138 Index Points [+]

Import Prices 94.23 101 102 102 92.35 114 Index Points [+]

Food Inflation 0.40 2.2 2.5 2.5 2.49 2.85 percent [+]

CPI Housing Utilities 99.73 99.81 99.81 99.79 99.77 99.54 Index Points [+]
Overview Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

CPI Transportation 100.73 99.2 100 100 101 108 Index Points [+]

MONEY Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Interest Rate 1.50 1.5 1.5 1.5 1.75 2.25 percent [+]

Money Supply M0 1302767.00 1410000 1420000 1420000 1291726 1550000 THB Million [+]

Money Supply M1 1853.70 1973 1980 1980 1837 2300 THB Billion [+]

Money Supply M3 18601.65 19600 19800 19800 18595 22700 THB Billion [+]

Banks Balance Sheet 18142798.00 18182577 18174428 18148214 18117438 17855564 THB Million [+]

Foreign Exchange Reserves 199304.48 185000 187000 187000 204977 200000 USD Million [+]

Loans to Private Sector 3892471.00 3885602 3879608 3873915 3868300 3818955 THB Million [+]

Deposit Interest Rate 1.40 1.5 1.76 1.76 2.1 2 percent [+]

Interbank Rate 1.57 1.72 1.68 1.68 1.66 2.25 percent [+]

Central Bank Balance Sheet 7291032.00 7379532 7392184 7385371 7372630 7850000 THB Million [+]

TRADE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Balance of Trade 3358.25 414 3445 3445 798 135 USD Million [+]

Exports 21810.00 17988 21089 21089 21012 20045 USD Million [+]
Overview Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Imports 18450.00 17575 17643 17643 18200 18910 USD Million [+]

Current Account 6290.00 4400 4900 4900 1633 5000 USD Million [+]

Current Account to GDP 11.50 5.8 4.6 4.6 6.53 7.6 percent [+]

External Debt 140509.55 137000 143000 143000 140888 139000 USD Million [+]

Terms of Trade 110.96 110 110 109 109 107 Index Points [+]

Tourist Arrivals 3133410.00 3241268 3829464 3829464 2796200 3635200 [+]

Gold Reserves 152.41 152 152 152 148 152 Tonnes [+]

Remittances 10427.00 13281 12100 12100 9874 22000 THB Billion [+]

Terrorism Index 6.71 7.25 7.1 7.1 6.59 6.8 [+]

Crude Oil Production 247.00 210 210 210 245 250 BBL/D/1K [+]

Foreign Direct Investment 10085.22 -3580 18300 18300 20366 24000 THB Million [+]

GOVERNMENT Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Government Debt to GDP 41.20 52 47 47 38.7 46 percent [+]

Government Budget -2.70 -2.4 -2.8 -2.8 -2.03 -3 percent of GDP [+]

Government Budget Value 132818.00 2210 2215 -1116 -1327 -194 THB Million [+]

Government Spending 392284.00 399518 406750 406750 391316 425240 THB Million [+]

Government Revenues 186720.00 188000 204661 191066 181388 251000 THB Million [+]
Overview Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Fiscal Expenditure 137950.00 199000 146499 140408 135137 206000 THB Million [+]

Military Expenditure 6047.10 6559 6836 6836 6109 7991 USD Million [+]

BUSINESS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Business Confidence 50.60 50.5 51 51 48.75 52 [+]

Industrial Production 4.21 3.2 6.1 6.48 6.7 1.38 percent [+]

Industrial Production Mom 2.70 0.7 1.4 1.4 0.46 0.6 percent [+]

Capacity Utilization 62.98 64.2 63.6 64.2 62.67 67.1 Index Points [+]

Changes in Inventories -53728.00 19300 10780 10780 -4911 29400 THB Million [+]

Car Registrations 34906.00 26777 33102 33102 27997 38500 Cars [+]

Leading Economic Index 160.92 163 164 164 162 173 Index Points [+]

Internet Speed 15999.07 17186 17411 17213 17468 15517 KBps [+]

IP Addresses 2822892.00 2508664 2541520 2451927 2472057 2416882 IP [+]

Manufacturing Pmi 49.80 50.6 51.1 51.1 49.76 51.1 [+]

Total Vehicle Sales 77592.00 92069 73155 73155 67800 119710 [+]

Cement Production 3054.09 3183 3153 3128 3107 2955 Thousands of [+]
Ton

Car Production 177415.00 140250 193000 193000 155712 180000 [+]

Overview Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Coincident Index 130.13 132 134 134 129 145 Index Points [+]

Competitiveness Index 4.72 4.64 4.8 4.8 4.7 5 Points [+]

Competitiveness Rank 32.00 34 32 32 33 27 [+]

Corruption Index 35.00 40 42 42 36 43 Points [+]

Corruption Rank 101.00 82 80 80 94 77 [+]

Ease of Doing Business 26.00 43 40 40 35 35 [+]

CONSUMER Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Consumer Confidence 75.00 77 79 79 75.04 78 [+]

Retail Sales YoY 10.60 3.8 3.4 3.4 6.97 5.1 percent [+]

Consumer Spending 1296708.00 1300000 1290000 1290000 1313815 1420000 THB Million [+]

Disposable Personal Income 7550115.40 7635831 7650546 7665261 7679976 7652264 THB Million [+]

Personal Savings 8.70 8.4 9.16 9.25 9.34 8.7 percent [+]

Bank Lending Rate 7.00 6.9 6.9 6.9 7.34 6.5 percent [+]

Personal Spending 1.10 1.1 0.26 0.27 0.26 1.3 percent [+]

Consumer Credit 3947347.00 3987622 3996928 4010731 4013812 3894183 THB Million [+]

Gasoline Prices 1.02 1.1 1.1 1.1 1.01 1.4 USD/Liter [+]

Households Debt To Gdp 69.20 66.57 65.68 64.8 63.92 76.8 percent of GDP [+]
HOUSING Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Housing Index 130.90 135 136 136 130 140 Index points [+]

Housing Starts 5643.00 12600 12100 12100 7794 14900 [+]

TAXES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020

Corporate Tax Rate 20.00 21.17 21.56 21.95 22.34 25.44 percent [+]

Personal Income Tax Rate 35.00 35.55 35.66 35.78 35.89 36.71 percent [+]

Sales Tax Rate 7.00 7 7 7 7 7 percent [+]

Social Security Rate 10.00 10 10 10 9.98 10 percent [+]

Social Security Rate For 5.00 5.26 5 5 4.99 4.61 percent [+]
Companies

Social Security Rate For 5.00 5.26 5 5 4.99 4.61 percent [+]
Employees

B. International Trade Statistics.

Thailand - International trade
Thailand has a long history of international trade. Beginning in the 15th to 18th centuries, during the reign of
the Ayutthaya monarchy, foreign merchants who lived near the kingdom's capital conducted trade with
foreigners. The country's first significant trade treaty was
Trade (expressed in billions of US$): Thailand
Exports Imports
1975 2.208 3.280
1980 6.505 9.214
Trade (expressed in billions of US$): Thailand
Exports Imports
1985 7.121 9.242
1990 23.070 33.379
1995 56.439 70.776
1998 54.456 42.971
SOURCE: International Monetary Fund. International Financial Statistics Yearbook 1999.
the Bowring Treaty in 1855 with Britain. Shortly after that, it also signed treaties with 14 other countries
including the United States, France, Russia, Sweden, Spain, and Japan.
Today, the United States, Japan, and the European Union continue to be its top trading partners, absorbing 52.6
percent of all exports in 1999 and supplying 48.8 percent of total imports in the same period. Its other partners
are Hong Kong, China, and the Association of South-East Asian Nations (ASEAN) countries, the most
significant of which are Singapore and Malaysia. Other countries apart from those mentioned accounted for
18.4 percent of exports and 21.6 percent of imports in the same period.
Thailand's major exports are rice, tapioca products, cane sugar and molasses, and rubber for agriculture;
chemicals, polymers, and plastics for the manufacturing industry; and gypsum, natural gas, and feldspar for the
mining industry. Bank of Thailand statistics as reflected in the Asian Economic Survey of 2000 identified the
country's major export products as machine parts, circuits, frozen shrimp, prawns, sundry items, computer parts,
garments, vehicle parts, and plastic products. On the other hand, its major imports are petroleum, integrated
circuit parts, and chemicals.
The balance of trade was consistently negative until 1998, which means that the value of the country's imports
was bigger than the value of its exports. The discrepancy was minimal in 1970, with import value exceeding
export value by only US$541 million. In 1975, imports exceeded exports by US$1.072 billion, which doubled
in 1980 to US$2.709 billion. In 1985, imports still exceeded exports by US$2.21 billion, which had quadrupled
by 1990 to US$10.309 billion. In 1995, the balance still stood in favor of imports by US$14.337 billion. In a
considerable reversal, imports in 1997 exceeded exports by US$5.319 billion but the following year, exports
exceeded imports by US$11.485 billion.
Despite the uneven balance of trade, the Thai economy continued to grow by an average of 6.8 percent in the
1970s, 7.5 percent in the 1980s, and 8 percent in the early 1990s before the Asian financial crisis. This growth
can be attributed to 2 factors, namely the boom of the tourism industry and the inflow of foreign direct
investment. According to International Historical Statistics, in 1970, the services sector contributed 44.1
percent of GDP, which increased in 1980 to 49.7 percent. Though this contribution fell to 46.9 percent in 1999,
it is safe to say that the dollar earnings from the tourism industry generated a substantial amount, enough to
offset the trade imbalance.
Foreign direct investment (FDI) is another major factor in the growth of the economy since the mid-1980s. In
1988, FDI infused US$1.25 billion into the economy, partly explaining the 7.5 percent growth despite a
US$4.332 billion discrepancy in balance of trade in favor of imports. Foreign direct investment doubled to
US$2.5 billion in 1990.
Thailand is a member of several international trade organizations including the ASEAN Free Trade Area
(AFTA), the Asia Pacific Economic Cooperation (APEC), and the World Trade Organization (WTO).

Read more: http://www.nationsencyclopedia.com/economies/Asia-and-the-Pacific/Thailand-

INTERNATIONAL-TRADE.html#ixzz4wzIlDhdQ
Main Industry Sectors
The Thai economy is heavily based on agriculture, which contributes around 10% of the GDP and employs almost
40% of the active population. The country is one of the leading producers and exporters of rice and also has rubber,
sugar, corn, jute, cotton and tobacco as major crops. Fishing is an important activity as Thailand is a major exporter
of farmed shrimp. However, agriculture's contribution to the GDP has relatively declined, while the exports of goods
and services has increased.
The manufacturing sector accounts for just under half of the GDP and is well diversified. The main Thai industries
are electronics, steel and automotive. Thailand is an assembly hub for international car brands. Electrical
components and appliances, computers, cement production, furniture and plastic products are also important
sectors. The textile sector employs around 25% of the active population but is no longer as dynamic as tourism
which has become the main source of foreign exchange.
The tertiary sector, including tourism and financial services, contributes about half of the GDP.

Economic Overview
Thailand is Southeast Asia's second largest economy (behind Indonesia), and 4th richest nation, according to per
capita GDP, after Singapore, Brunei and Malaysia. It functions as an anchor economy for the neighboring
developing countries like Laos, Burma, and Cambodia. Due to its openness to foreign trade, the country was hit
hard by the international financial crisis and entered into a recession in 2009 (-2.2%) for the first time since the
Asian crisis of 1997-98. Estimated at 7.5%, there was a quick and dynamic growth in 2010, driven by the resumption
of international trade, household incentives and investment projects (infrastructure).
With the recovery under way, the authorities will eliminate fiscal and monetary incentive measures adopted in order
to combat the crisis. The country was also involved in a stimulus program called Thailand: Investing for
strength?. This program will go on until 2012, with a budget of around 30 billion euros, which should allow for the
creation of about 1.5 million jobs and stimulate private consumption. Mid-term, the government is looking to
strengthen infrastructure and develop the finance sector, in order to ensure a dynamic and sustainable recovery.
Significant progress has been made in terms of development: poverty has decreased sharply during the last
decades. In spite of the crisis' impact on the country, unemployment rate has remained low (1.4%).

FDI in Figures
Foreign direct investment has been an important element of Thailand's economic development process. The
immense foreign currency influx after Thailand's financial liberalization in 1990, helped to increase the country's
competitiveness. In the context of the recession and relatively slow recovery after the 1997 crisis, the FDI's role
became even more crucial in helping re-capitalize failing industries, bring in new technologies, generate or save
jobs, assist with policy reforms and play a role in addressing the poverty and social inequalities challenges.

Thailand is an important FDI destination. In terms of investment, the country offers an attractive and modern legal
framework and its economy benefits form the regional dynamism. In 2009, Thailand ranked amongst the first
destinations for FDI and was the second ASEAN (Association of the Nations of the Southeast Asia) country, after
Singapore, in terms of FDI stock. However, due to the US financial turmoil and the slowing of the global economy,
as well as the country's own political instability, the FDI influx dried up in 2008-2009. They should continue their
recovery which began in 2010.

FDI Government Measures

The Thai Boad of Investment (BOI) offered a series of incentives in six industrial sectors in 2008-2009, namely eight
years of tax exemptions for companies and 50% tax reduction for companies for 5 years, double transport, electricity
and re-supply deductions as well as 25% deduction on net profits for establishment and construction costs. The 6
sectors are:
- Agriculture and food;
- Renewable and alternative energies;
- Automobile;
- Electronics, information and communication technologies (ICT);
- Fashion;
- High added value services (including leisure, health and tourism).

The BOI will also implement measure aimed at contributing to the increase of company liquidity. Additionally, it can
offer import tax exemption on raw materials required for production aimed at export.

Country Strong Points

The country's main strong points are:
- A skilled work force in a number of sectors;
- A strategic location at the heart of Asia: the country is an entryway to Southeast Asia and the Upper Mekong Basin
region where the emerging markets have great economic potential;
- A governement policy which promotes investment and promoting free-trade: According to the World Bank,
Thailand is the 4th Asian country and the 20th in the world where it is easy to do business;
- The existance of a number of government agencies to help investors;
- An investment regime in total harmony with WTO regulations: no restrictions in the manufacturing sector, no local
requirements nor export conditions.

Country Weak Points

Other than economic factors, structural factors like the lack of infrastructure or sufficient skilled labor, could influence
the level of investments and economic growth. A World Bank report, published in 2009, stresses on a key variable
for recovery: political stability. Political uncertainty in Thailand was seen by companies as the main drawback to
investment. The lack of improvement in the infrastructures and the shortage of skilled workers (linked to the quality
of the education) have also limited investments.

Foreign Trade Overview

Thailand is an emerging economy, very dependent on exports, which account for more than two-thirds of the GDP.
Thailand is very open to international trade (trade represented on average almost 140% of the GDP in 2007-2009)
and is an active member of ASEAN. The country's three main export partners are: the United States, Japan and
China. Main export commodities are electric and electronic equipment, machinery, vehicles, rubber, and plastics.
The main import partners are: Japan, ASEAN, China, the EU and the United States. Thailand mainly imports electric
and electronic equipment, mineral fuels and oil, machinery, iron and steel, and plastics. Thailand shows a trade
surplus, a trend which should continue.

Sources: https://www.globaltrade.net/m/c/Thailand.html
The Department of International Trade Promotion (DITP) is the Thai Ministry of Commerces foremost
agency dedicated to the rapid and sustained expansion of international trade for both domestic achievement
and global benefit. Over the last 40 years the DITP has facilitated countless multi-million-dollar trade deals,
both governmental and private, to the satisfaction of international investors and entrepreneurs worldwide. And
as a whole new dimension unfolds with the launch of the ASEAN Economic Community (AEC) in 2015, the
DITP is ready to guide you in taking advantage of the almost unlimited possibilities presented by a free-trade
system in a single market bloc of 600 million consumers. The DITP, with its vast and varied database of
manufacturers, exporters and service providers in Thailand and overseas, is ready to respond directly and
promptly to all requests from international entrepreneurs for any kind of product or service. Through the DITP,
you will be matched with an ideal partner in order to form a business partnership that is both mutually
beneficial and progressive.
Why Thailand, you may ask? Well, why not? While global economic trends are increasingly focused on
Asia, Thailand strategically located at the very heart of mainland Southeast Asia has clearly gained more
advantages, highlighting its role as a center of trade, investment and tourism. Whats more, with the economic
integration into regional trade blocs, from the 10-member Association of Southeast Asian Nations to ASEAN
Plus Three (China, South Korea and Japan) and further with our additional Dialogue Partners in the Asia-
Pacific region (India, Australia and New Zealand), the Thai Government is all set to embrace the endless
opportunities coming our way, through clear policies that facilitate foreign investors in their business ventures
in these countries. Asias emerging markets, especially in once slumbering China and India, present a whole
new profitable perspective for international investors. We at the DITP are well-positioned to gain you entry into
these markets, especially in regard to ASEAN and the above-mentioned six countries with which Thailand
already has free trade agreements. At the DITP you will be tapping into a fountainhead of professional
experience to secure unbeatable trade opportunities throughout all of Asia and the Pacific region, as well as
anywhere else in the world.
Thailand enjoys an long history of culture and tradition, which have magically woven their exquisite
charms into a number of products and services that are now in great demand around the world. Such ancient
cultural wisdom and techniques provide a veritable smorgasbord for investors. The skills and creativity of Thai
professionals are well known and highly respected worldwide. Thailand is therefore a great place for you to
expand, with our assistance, your existing business ties while forging newer and more profitable engagements.
The DITP is ready to match you with qualified Thai partners in assuring the development of first-rate products
and services, all at very reasonable outlays. You will enjoy working with Thai professionals in fields as diverse
as industrial design and high fashion, architecture, graphic design, animation and more. In a nutshell, when it
comes to creative design and manufacturing, Thailand has never disappointed. At the DITP, your every need
and requirement is earnestly anticipated.

The DITP is just the ally you require in the complex and competitive international marketplace.
In working with us, you will find all the information, networks and services you need to make your
business successful-both in the Thai marketplace and offshore investments. Youll find yourself well
taken care of in terms of sourcing, subcontracting, franchising and licensing, plus green field and
brown field investments. To help spread the good news about Thailands enormous pluses, the DITP
organizes many promotions and trade fairs in Thailand and abroad. These also include in-store
promotions, product exhibitions and trade missions in target markets worldwide.

When working with the DITP, you will find the answer to each and every question about trading
with Thailand and its ASEAN partners. Furthermore, as a good government entity, the DITP can
always offer you the right connection in every facet and area of trade, investment and
entrepreneurship. Facilitating G2G agreements? Were here to help. Need B2B matching? No
problem. Want to join the right network? We can take care of that, too. How about raw material
sourcing or upstream-to-downstream manufacturing? That is our specialty as well. Simply stated, the
DITP offers you a one-stop service for the right kind of information and contacts you will need for a
successful business deal or venture in Thailand; connecting you to the rich pool of natural and quality
human resources while matching you with strategic partners for possible collaboration in trading,
investment, sourcing, subcontracting, etc. Thailand has an enviable and well deserved reputation as
the regions economic powerhouse. For decades, it has ranked as the worlds No.1 rice exporter and
more recently as the top maker of hard disk drives. Dozens of Thai products have meanwhile enjoyed
inclusion on many of the worlds Top Ten lists. To link you with the worlds top suppliers, the DITP will
navigate you along a direct route to the countrys abundant food and agricultural sector, which has
earned the country a reputation as The Kitchen of the World Much in the same way, the DITP will
guide you to the hub of specialized services, such as designer jewelry, skills and fabrics, ceramics
and handicrafts, computer graphics and animation, health and hospitality industries. With our Vast
and efficient network, the DITP can connect you with the perfect suppliers in the blink of an eye.
Sources: http://www.thaitradefair.com/about-ditp/

C. Currency
The Thai baht,[2] like the pound, originated from a traditional unit of mass. Its currency value was originally
expressed as that of silver of corresponding weight (now defined as 15 grams), and was in use probably as early as
the Sukhothai period in the form of bullet coins known in Thai as phot duang (Thai: ). These were pieces of
solid silver cast to various weights corresponding to a traditional system of units related by simple fractions and
multiples, one of which is the baht. These are listed in the following table:[3][4]

Unit Thai Relative Value relative

Notes
(RTGS) spelling value to baht

Bia is Thai for cowry, the shell of which was used as a

Bia 1100 at 16400
trade medium of the same value.
 Solot here literally means "sixteen" or sixteenth, referring
Solot 116 fueang 1128
to the fractional amount relative to a fueang.

At 18 fueang 164 Likewise, at literally means eight.

Siao/Phai / 14 fueang 132 Siao means quarter.

Sik 12 fueang 116 Sik means half.

Fueang 18 baht 18

Salueng 14 baht 14

Song
12 baht 12
salueng

Baht 1

Tamlueng 4 baht 4 Thai version of the tael.

20
Chang 80 Thai version of the catty.
tamlueng

That system was in use up until 1897, when the decimal system devised by Jayanta Mongkol, in which one baht =
100 satang, was introduced by king Chulalongkorn. However, coins denominated in the old units were issued until
1910, and the amount of 25 satang is still commonly referred to as a salueng, as is the 25-satang coin.
Until 27 November 1902, the baht was fixed on a purely silver basis, with 15 grams of silver to the baht. This caused
the value of the currency to vary relative to currencies on a gold standard. In 1857, the values of certain foreign
silver coins were fixed in law, with the one baht = 0.6 Straits dollar and five baht = seven Indian rupees. Before 1880
the exchange rate was fixed at eight baht per pound sterling, falling to 10 to the pound during the 1880s.
In 1902, the government began to increase the value of the baht by following all increases in the value of silver
against gold but not reducing it when the silver price fell. Beginning at 21.75 baht = one pound sterling, the currency
rose in value until, in 1908, a fixed peg to the British pound sterling was established of 13 baht = one pound. This
was revised to 12 baht in 1919 and then, after a period of instability, to 11 baht in 1923. During World War II, the
baht was fixed at a value of one Japanese yen.
From 1956 until 1973, the baht was pegged to the U.S. dollar at an exchange rate of 20.8 baht = one dollar and at
20 baht = 1 dollar until 1978.[5][6][7] A strengthening US economy caused Thailand to re-peg its currency at 25 to the
dollar from 1984 until 2 July 1997, when the country was affected by the 1997 Asian financial crisis. The baht
was floated and halved in value, reaching its lowest rate of 56 to the dollar in January 1998. It has since risen to
about 30 per dollar.
The baht was originally known to foreigners by the term tical,[8] which was used in English language text on
banknotes until 1925.[9]
Sources: https://en.wikipedia.org/wiki/Thai_baht

1 THB = 1.55745 PHP

D. Trade Barriers

(Learn about barriers to market entry and local requirements, i.e., things to be aware of when entering the
market for this country.)

In May 2014, the Thai military suspended the constitution and took control of the
government in a coup dtat. Reforms have been ongoing as a new constitution is drafted,
and a constitutional referendum secured approval in August 2016. The current
administration announced its intent to hold general elections in 2018 once the constitution
is in place. With slightly accelerated growth in 2016, Thailands economy has remained
stable despite its challenges over the past three years.

Thai industries face intense competition from both global and domestic suppliers of goods
and services. Many domestic companies are family businesses that span generations,
and are now led by second- and third-generation businessmen and women who are highly
educated and possess deep knowledge of their industries.
Thailands mass market is price conscious and generally served by local suppliers and/or
low-priced imports. U.S. exporters with products that are competitive for reasons other
than price should work with a local partner to undertake an appropriate market entry
strategy.

High tariffs in many sectors remain an impediment to market access. While Thailands
average applied most favored nation (MFN) rate averaged 10.7 percent in 2014, ad
valorem tariffs can be as high as 50 to 80 percent, and the ad valorem equivalent of some
specific tariffs (charged mostly on agricultural products) is even higher. About one-third of
Thailands MFN tariff schedule involves duties of less than 5 percent, and almost 30
percent of tariff lines are MFN duty free, including for products such as chemicals,
electronics, industrial machinery, and paper. Thailand has bound all tariffs on agricultural
products in the WTO, but only approximately 70 percent of its tariff lines on industrial
products. The highest ad valorem tariff rates apply to imports competing with locally
produced goods, such as automobiles and automotive parts, motorcycles, beef, pork,
poultry, tea, tobacco, flowers, wine, beer and spirits, and textiles and apparel.

Corruption and lack of transparency in government procurements are major concerns for
U.S. companies. Where corruption is suspected during the bidding process, government
agencies and state enterprises reserve the right to accept or reject any or all bids at any
time and may also modify the technical requirements. This allows considerable leeway for
government agencies and state-owned enterprises to manage procurements, while
denying bidders recourse to challenge procedures. There are frequent allegations that the
Thai government makes changes to technical requirements for this purpose during the
course of procurements. Despite a Thai government commitment to transparency in
government procurement, U.S. companies and the Thai media continue to report
allegations of irregularities. Thailand is not party to the World Trade Organization
Agreement on Government Procurement; it obtained observer status in June 2015.

Customs law in Thailand does not fulfill the standards established by The International
Convention on the Simplification and Harmonization of Customs Procedures, otherwise
known as the Kyoto Convention. Major problem areas include Thailands Customs
Penalty Regime and Customs Valuation Procedures. The penalty for undervaluing
imports into Thailand, even if done through negligence or by mistake, can be
accompanied by a prison sentence up to ten years. The system is incentivized by the
distribution of rewards from these penalty payments to customs officials involved in the
investigation of each case. Additionally, the procedure for determining Customs Value
remains opaque as the valuation methodologies, determined by Ministerial Regulations,
are subject to frequent change. Confusion over the guidelines can lead to increased risk
of misinterpretation and misapplication of goods valuation methods.

U.S. businesses operating in Thailand should be aware that the government recently
amended its Civil Procedure Code to include class-action lawsuit provisions. This
increases rule of law and consumer protection in Thailand, but may leave some
businesses at higher risk. This may result in higher insurance premiums, especially for
small businesses.

The regulatory environment protecting intellectual property in Thailand is at times difficult

to navigate. Patent registration can be a lengthy process, sometimes requiring several
years. Patent and trademark infringement is common in Thailand. U.S. companies have
successfully protected their intellectual property through litigation in the Thai courts, but
these cases can be costly and time-consuming. Counterfeit goods continue to circulate
widely in Thailand, contributing to the countrys continued status as a Priority Watch List
country in the 2017 Special 301 Report by the Office of the U.S. Trade
Representative. While counterfeiting of hard goods such as DVDs, CDs, and apparel
remains a problem, recent widespread usage of the Internet and mobile devices in
Thailand has resulted in a large increase in online pirated goods such as camcorder-
recorded movies and pirated software. More information regarding intellectual property
rights challenges in Thailand can be found in Chapter Four under Protecting your
Intellectual Property Rights.
Since the implementation of the Foreign Business Act of 1999, foreign businesses set up in a range of
industries in Thailand must have a Thai majority shareholder. One line of business that is exempt from this is
import/export trading. This exemption, along with developed infrastructure and a solid legal framework, have made
Thailand a hub for cross-border traders. In 2015, US$212 billion of goods were exported from Thailand, the
22nd highest value in the world. Imports in the same year totaled US$177 billion, making Thailand the worlds
25th largest importer.
According to the World Bank, the time and cost of both importing and exporting in Thailand is significantly lower than
the average for neighboring countries in the East Asia and Pacific region. In recent years, import/export procedures
have been streamlined further through the implementation of the online e-Customs system. This electronic system
provides a one-stop service for all stakeholders in cross-border trade. Procedures such as issuing licenses and
paying duties and taxes have been made paperless and can be completed using the central e-Customs system.

Once a company has been set up in Thailand, including Value Added Tax (VAT) registration and corporate bank
account establishment, the import and export processes can begin. This article will outline the procedures required
when trading goods to and from Thailand.
Importing

All goods imported into Thailand must be reported to the Customs department. The steps required to meet these
legal requirements are outlined below.

Step 1 Register to use e-Customs system

As mentioned, the procedures for importing goods into Thailand have been centralized into the online e-Customs
system. In order to register for the system, the importer (either as an individual or business entity) must already
possess a digital certificate. The digital certificate is an electronic signature file used to confirm the identity and
authenticity of the sender of electronic documents; it is essential for all companies in Thailand with any online
operations, including import and export registration.

Once a digital certificate is in place, the importer may proceed to register for the e-Customs system. Companies can
choose to either register with the system directly (i.e. at their own office) or through an agent. For the latter option,
the agent will handle the registration. When registering to use the e-Customs system directly, the following tasks are
required:

e-Customs software must be installed on the company IT system and digital certificates verified
The importer must register with Thai Customs at one of the following: the Registration and Customs
Privileges Sub-Division; Customs Procedures and Valuation Standard Bureau; or the General Administration
Division at each Customs office
The accuracy and readiness of message exchange with e-Customs system must be tested
Once tests are completed successfully, the Communication and IT Bureau will issue e-Customs registration
ID, and the process is complete.

Step 2 Review controlled goods

Two separate checks need to be made before goods are imported: firstly, to identify if goods require an import
permit, and secondly, to ascertain if goods are considered red line.

A range of goods require import permits issued by different agencies prior to their arrival. For example, used motor
vehicles and motorcycles require a permit from the Department of Foreign Trade, while imports of medicines and
food supplements require permission from the Food and Drug Administration of the Ministry of Health. A rundown of
goods that require a permit can be found on the Customs Department website. The government is working to
integrate the permit application process into the e-Customs system; currently, around half of Thailands government
agencies allow electronic permit applications.

The second check required is to establish if the goods to be imported are classified as red line goods (as opposed
to green line). Red line goods are those considered to be high risk or requiring extra certification and verification
upon arrival, including foodstuffs, drinks, and plants. It is necessary to provide the following supporting documents
when importing red line goods:
 Bill of Lading (B/L) or Air Waybill
Invoice
Packing List
Import License (if required)
Certificates of origin
Other relevant documents (e.g. list of ingredients, technical standards certificates, etc.)

There is no definitive list of red line goods; the e-Customs system will inform the importer once the Import
Declaration has been submitted (see Step 3). As such, it is important to ensure the correct paperwork is in place for
all imports in order to be prepared for a shipment being flagged as red line.

Step 3 Submission and verification of declaration

Once all documentation is in order, an Import Declaration can be submitted to the e-Customs system along with an
arrival report with the information of the carrying vessel. The e-Customs system will then check and verify the
submission, identifying any discrepancies and specifying whether the shipment is green line or red line.

Step 4 Payment of duties and taxes

Thai Customs Tariff Decree B.E. 2530 states that goods imported or brought into, exported, or taken out of the
Kingdom shall be chargeable with and liable to duty. A number of items are exempt from import duties; a list can be
found on the Integrated Tariff Database.

For dutiable goods, payment can be made at the Customs Department of the port of entry or via the e-Payment
section of the e-Customs system.

Step 5 Inspection and release of cargo

The final step before the cargo is released is an inspection. For green line goods, this is simply an online screening
and will take only a few minutes. For red line goods, the supporting documents will have to be presented and the
cargo physically examined by customs officials.

Exporting

All goods exported from Thailand require reporting to Customs and are subject to customs controls. Due to the
automated nature of the e-Customs system, the export procedures are very similar to the outlined steps for
importing goods.

Step 1 Register to use e-Customs system

If companies are both importing and exporting goods from Thailand, only one registration on the e-Customs system
is needed. See above for the registration process.

Step 2 Review controlled goods

As with imports, checks need to be made for goods requiring an export permit and potential red line shipments.

Currently, around 50 goods categories require an export permit. These include goods such sugar and rice, which
require a permit to maintain quality, and others including trees and seeds that require permits under other laws. The
Customs Department websiteprovides a detailed overview of restricted goods.

In terms of red line goods, extra documentation is required before the shipment can leave Thailand. The e-Customs
system will flag red line goods at Step 3. The exporter should prepare the following:
 Invoice
Export License (if required)
Other relevant documents (e.g. Food and Drug Administration approval, destination information, etc.)

Step 3 Submission and verification of declaration

The exporter should submit an Export Declaration, along with an invoice and cargo data to the e-Customs system.
Again, provided no errors exist, the system will issue declaration and payment numbers and define whether the
shipment is green or red line.

Step 4 Payment of duties and taxes

Not all goods require a duty to be paid. See the Integrated Tariff Database for the official list of duty-exempt goods.

Export duties can be paid by three methods: payment at Customs Department of port of exit; e-Payment via the e-
Customs system; and payment at a bank.

Step 5 Inspection and release of cargo

The freight forwarder should send a cargo control report to the e-Customs system, which will automatically generate
a report and alert the customs officials if the goods are green or red line. Green line goods are clear to proceed. As
with imports, red line goods require a physical inspection and extra document checks before they can be cleared.

Finally, once the shipment arrives, it is the responsibility of the shipping company or agent to submit the manifest
information to the e-Customs system.
Sources: https://www.aseanbriefing.com/news/2016/12/26/guide-thailands-import-export-procedures.html

E. Inflation
Consumer prices in Thailand increased 0.58% over the previous month in September, up from 0.11% in
August. The increase in consumer prices was chiefly driven by higher prices for non-food and beverages, food and
non-alcoholic beverages, raw food and energy and housing and furnishing. The increase in prices was broad-based,
as all subgroups recorded higher prices in September compared to the prior month.

Inflation rose from 0.3% in August to 0.9% in September, coming in above market expectations of a more modest
reading of 0.5%. As a result, inflation approached the lower band of the Central Banks 1.0%4.0% target range, but
nevertheless remained below the target for the seventh consecutive month. Core inflation, meanwhile, remained
steady for the sixth consecutive month at 0.5%. While subsidies and state price controls have limited inflation,
recent trade data indicates a fairly robust domestic market with economic activity picking up. However, as inflation
remains below target, the Bank of Thailand is likely to keep the monetary policy unchanged when it meets on 8
November.
 Thailand Inflation Chart

Note: Annual variation of consumer price index (CPI) in %.

Source: Bureau of Trade and Economics and FocusEconomics calculations.

Consumer prices in Thailand rose 0.86 percent year-on-year in October of 2017, the
same as in the previous month but above market expectations of a 0.82 percent gain. The
inflation rate remained at its highest since February, driven by an increase in both of cost of
food (0.4 percent from 0.06 percent in September) and that of non-food (1.11 percent from
1.32 percent). Core consumer prices, which exclude raw food and energy rose 0.58 percent,
faster than a 0.53 percent increase in the prior month and matching estimates. On a monthly
basis, consumer prices went up 0.16 percent, after a 0.58 percent rise in September. Inflation
Rate in Thailand averaged 4.21 percent from 1977 until 2017, reaching an all time high of
24.56 percent in June of 1980 and a record low of -4.38 percent in July of 2009.

Thailand Prices Last Q4/17 Q1/18 Q2/18 Q3/18 2020

Inflation Rate 0.86 0.9 1.3 1.4 1.5 2.2

Inflation Rate Mom 0.16 0.3 0.2 0.2 0.31 0.1

Consumer Price Index CPI 101 101 101 101 102 105

Core Consumer Prices 102 108 109 109 102 111

Thailand Prices Last Q4/17 Q1/18 Q2/18 Q3/18 2020

Core Inflation Rate 0.58 0.6 0.85 1 1.14 1.5

GDP Deflator 150 149 146 146 149 163

Producer Prices 102 108 109 109 102 124

Export Prices 105 121 123 123 103 138

Import Prices 94.23 101 102 102 92.35 114

Food Inflation 0.4 2.2 2.5 2.5 2.49 2.85

CPI Housing Utilities 99.73 99.81 99.81 99.79 99.77 99.54

CPI Transportation 101 99.2 100 100 101 108

The Bank of Thailand now foresees inflation of 0.6% in 2017 and 1.2% in 2018. FocusEconomics Consensus
Forecast panelists expect inflation of 0.8% on average in 2017, which is down 0.1 percentage points from last
months forecast. For 2018, panelists predict average inflation of 1.5%, which is unchanged from last months
estimate.

F. Technology and Science

In 1979, the Thai Government first established an agency deal with science and technology under the name of the
Ministry of Science, Technology and Energy. The establishment was under the Amendment Act of the
Proclamation of Revolutionary Party No 216 dated September 29, 1972 and announced in Royal Gazette Vol. 96
dated March 23, 1979.
Later in 1992, the name was changed to the Ministry of Science, Technology and Environment (MOSTE) with 3
main responsibilities: science and technology, environment and energy. MOSTE had its roles and objectives to
formulate the national policy on the 3 aspects, to implement these policies efficiently and in coordination to bring
about the most socio economic benefits and national stability.
Due to MOSTEs responsibilities on science and technology, environment and energy was not directly related to
achieve the objectives of national development in each field. MOSTE should structure the administration to be 4
Ministries: Ministry of Natural Resources and Environment, Ministry of Energy, Ministry of Information and
Communication Technology and Ministry of Science and Technology in order to solve the above problem.
Therefore, from October 2002, according to the Bureaucratic Restructuring Act B.E. 2545 (Section 5), Ministry of
Science, Technology and Environment had changed its name to Ministry of Science and Technology.
The Ministry of Science and Technology (MOST) is presently tasked with forwarding the policy and strategic plan for
science, technology and innovation and seeing to its effective and substantive implementation, both in terms of
research and development as well as in terms of creating cooperative mechanisms between all sectors of society,
with a view to promoting economic benefits and enhancing quality of life. Under the vision of excelling as the
steward or main organization in the development of science, technology and innovation the Ministry of Science and
Technology aims to create and enrich the intellect of Thai society, in a manner that will support economic and social
development and sustainable competitiveness. There are 16 important supporting agencies to assist in this respect,
namely the government agencies, autonomous agencies, state enterprises, and public organizations, which all
come under the structure of Ministry of Science and Technology. (See Organization Chart of MOST)

SOURCES: https://www.most.go.th/main/en/2015-07-17-07-02-23/organization-chart

G. Channel of distribution

Thailand - Distribution and Sales Channels

Discusses the distribution network within the country from how products enter to final destination, including
reliability and condition of distribution mechanisms, major distribution centers, ports, etc

Last Published: 7/17/2017

Distribution and sales of industrial goods in Thailand are normally conducted through two
channels:
 U.S. exporter, to Thai importer, to Thai end-user
U.S. exporter directly to Thai end-user

The selection of distribution and sales channels depends largely on the type of product
and the end-user. Exporters of products that require after-sales service should have a
Thai importer representing them locally. A local agent or distributor can respond more
quickly to provide service and parts replacement. Accordingly, the end-users confidence
will increase if there is a place where they can receive near-immediate assistance any
time a machine breaks down. Also, the end-user generally feels more comfortable dealing
with a local agent or distributor since there are no language or distance barriers. The
agent or distributor also facilitates customs procedures for end-users. It should be noted
that, in general, only local agents, distributors, or manufacturers branch offices in
Thailand are eligible to enter day-to-day bidding for routine government tenders. Please
also see the sections in this chapter on Selling Factors and Selling to the Government
for more detailed information about bidding on projects by international bidders.

For consumer goods, there are generally three distribution and sales channels:

U.S. exporter, to Thai importer, to Thai retailer, to Thai end-user

U.S. exporter, to Thai importer, to Thai wholesaler, retailer, and end-user
U.S. exporter, to Thai retailer, to end-user

Perishable consumer goods tend to go through the first channel, which is the fastest. In
this instance, importers tend to act as wholesalers at the same time. Non-perishable
consumer goods normally go through the second or third channel. The second channel
seems to be the most favored, especially with lower-priced items, since there are over
250,000 (mostly small) retail outlets in Thailand. Working through wholesalers will
promote better market coverage.

THAILAND: DISTRIBUTING A PRODUCT

In this page: Distribution | Distance selling

Distribution

Evolution of the Retail Sector

Growth and Regulation

During the last ten years, Thailand's retail landscape, particularly in prime locations in Bangkok and other
major urban centres, has changed dramatically. Traditional small independent retailers have gradually been
replaced with modern and often foreign-owned, large retail chains. The traditional stores typically sell all basic
items required for day-to-day living and are traditionally located in every small community throughout the
country. Normally, these stores operate out of a shop house and do not use or have any electronic data
processing in any sequence of their operations. The majority of modern trade stores and outlets are
concentrated in the Bangkok metropolitan area. This concept includes department stores, discount stores or
 hypermarkets, convenience stores, specialty/'category killer' stores and supermarkets.

There are over 250,000 (mostly small) retail outlets in Thailand. Modern food retailing accounts for
approximately 70% of total retail sales. The grocery sector accounts for the majority of the market (82%) and
was valued at USD 103 billion in 2015. The retail market is expanding rapidly, supermarkets and convenience
stores registering the fastest growth with 9.5% and 10.5% respectively in 2015. Increasing urbanisation,
changing lifestyles and demand for sophisticated products will be some of the market's major growth drivers.
Market Shares
Modern food retailing dominates the market with around 70% of total retail sales.
The top four companies in terms of sales value:
-CP All/7-Eleven with around 8,130 stores, USD 11.4 billion revenues in 2015 and 53% of market shares
-Ek-Chai Distribution System/Tesco-Lotus with more than 1,870 oulets
-Big C Supermarket PCL, which acquired Carrefour in 2010, with 552 stores
-Central Retail with around 1,360 stores
Retail Sector Organisations
Thai Retailers Association

Distance selling
Evolution of the Sector

The turnover of direct selling in Thailand amounted to USD 3,039 million in 2013 (+1.9% compared to 2012
and +5.3% over the last 3 years). The sector employs around 11 million people.

Direct selling is a good way to promote and sell goods in Thailand. Direct marketing is used in cleaning and
household products, cosmetics, insurances, electrical appliances and health care products. This is possible
thanks to the extend use of credit cards and to internet development.

H. Intermediaries
New overseas retail formats have been entering emerging markets since the late 1990s.
Accordingly, research on the advance of transnational retailers into emerging markets has
recently flourished, and Thailand, one of the most popular host countries for transnational
retailers, has often been examined as a case study. Many of these studies clarify the retail
internationalization process and conclude that the new formats are driving the host countries'
traditional distribution system toward a fundamental change. Although these studies consider
the host countries' circumstances, they do not necessarily pay sufficient attention to specific
characteristics of those host countries. In case studies of Thailand, the specific roles of
intermediaries throughout the entire retail and distribution system are commonly overlooked.
This paper argues that intermediaries continue to play an important role in Thailand's
distribution systems, especially in the system of fresh vegetable distribution. This study first
explains why earlier studies often attached less importance to the examination of intermediate
distribution systems, despite the necessity of considering the roles of intermediaries for a
deeper understanding of the impact of new retail formats on the host countries' distribution
system as a whole. After discussing the key roles of intermediaries in Thailand's vegetable
distribution system, this paper concludes that because modern retailers' involvement,
particularly that of transnational retailers, at the agricultural production stage is still limited in
Thailand, they often rely on intermediate distributors, such as local assembling wholesalers,
coordinator-type intermediaries, and wholesale markets, for the intermediate distribution
process.

Thailand, after the 2014 coup by the Royal Thai Armed Forces unseated its democratic government, sits a
disturbing gray area with regard to the due process and the rule of law. While martial law was, in theory,
revoked last week, and ordinary governance restored, the military are still clearly in charge, and the current
junta still expressly reserve the right to intervene at will. As with the last coup, the current dictatorship has
taken advantage of its powers to prepare or pass statutes that will persist, even when (or if) full democratic rule
is restored. Among the barrage of laws passed were modifications to Thai copyright and computer crime law.
Curiously, a detailed examination of the changes shows among the expected set of restrictions on online
freedoms, some positive improvements: that is, if the junta and future Thai governments can be trusted to
follow their own rules.

Thailand's arbitrary practices of blocking Internet content, and pursuing criminal charges against those who host
it, have long made it a treacherous place for those sharing information online. Besides affecting large Internet
companies like Google (YouTube has been blocked several times), these laws also hit ordinary individuals
such as Chiranuch Premchaiporn, who faced criminal prosecution and was convicted of an offence in
2012 when she failed to act quickly enough to delete forum comments deemed to be insulting to the Thai
monarchy (an offence known as lse majest).

Copyright is also used as a justification to remove online speech from the Thai Internet, just as it is elsewhere in
the world. Although individual cases do not rise to the same level of injustice as lse majest prosecutions, in
the aggregate illegitimate copyright censorship also creates a real barrier to the dissemination of knowledge and
culture online. The lack of any safe harbor law has resulted in over a 90% takedown rate by Thai ISPs receiving
untested claims of copyright infringement. The International Intellectual Property Alliance (IIPA) describes
this as a mark of good faith cooperation on the ISPs' part; a more apt description might be that the ISPs are
acting on an instinct for self-preservation, knowing the potential liability that faces them should they refuse.

A package of Digital Economy bills recently passed by the Thai junta will bring in some changes to this dire
state of affairs when the legislation comes into effect this year. The first is an amendment to the 2007 Computer
Crime Act, which currently makes Internet intermediaries liable for offenses such as lse majest that are
committed by their users. The relevant amendment adds a rider to this, exempting service providers from
liability only if they can prove that they follow[ed] the instruction to restrain the dissemination of such
computer data or destroy[ed] such data from a computer system as required by a Minister.

The second amendment relates only to copyright. Although it also exempts Internet intermediaries from
liability, it does so in much broader circumstances. Provided that they did not control, initiate or order the
infringement, the service provider is shielded from liability for content until they receive a court order ordering
them to remove it. In general, this approach is consistent with the Manila Principles on Intermediary Liability,
released last week by EFF and its partners from around the world, which provide that Content must not be
required to be restricted without an order by a judicial authority.

The contrast between the treatment of these two types of content is striking, and almost the converse of their
treatment in the United States, where section 230 of the Communications Decency Act exempts intermediaries
from liability for content on grounds such as defamation (unless they fail to comply with a court order to
remove the content), yet for alleged copyright infringements applies a looser standard under the DMCA that
requires them to take content down merely after receiving a notice (with only the chance that the removal might
later be reviewed by a court, if the user who shared the content disputes it).1
In fact, Thailand and the United States both have it wrong. There is no consistent rationale for intermediary
liability laws to treat one ground of liability, such as copyright infringement, differently from other grounds.
One violation of the law may face harsher penalties than the other, but whatever consequences apply, those
penalties ought to follow the speaker, not the intermediary who facilitates the speech. And an intermediary is
never the appropriate party to determine whether a communication is unlawful or notthat should always be
the responsibility of a court.

That's why in Thailand's case, the Computer Crime Act, which allows ISPs to be found liable for the speech of
their users without a prior court order, remains as noxious as ever, even after considering the latest very minor
amendment. Conversely, the new amendment to the Copyright Act introduces a much better model; one that
allows Internet intermediaries to encourage rather than to stifle the free expression of their users. Like Chile,
which has a similar model requiring judicial assessment of copyright infringement allegations, this is a
copyright safe harbor scheme done right.

Through the Manila Principles we advocate for the adoption of the same model of broad immunity for
intermediaries from liability for their users' content, in every country and for all types of content. It's amazing
how what may seem like a technical legal issue can have such a major impact on users' human rights online, by
limiting the potential for intermediaries to be used as a chokepoint for content censorship. Even better, because
limiting their liability means that intermediaries don't have to watch their backs at every step, it also induces
them to contribute towards a more innovative and vibrant Internet for everyone.

Such protections in law, of course, rely on the authorities following the law. In the past, the censorship of online
content in Thailand has, in theory, required an order from a Thai court. However, even when the country was
democratically governed, successive administrations increasingly fell back on informal and secretive
agreements with ISPs that ensured certain Internet-wide blacklists of political content be enforced for the
majority of Thai Internet users without any judicial oversight. A law is only a law if it is exclusively and
universally followed. That's why the Manila Principles strongly oppose circumventing due process and the rule
of law through 'so-called voluntary agreements'. It's also why, in Thailand, a ruling junta that still grants
themselves a general exception to obeying their own nation's laws, has not yet returned to accepted standards of
democratic governance.

sources: https://www.eff.org/deeplinks/2015/04/intermediary-liability-thailand-done-right-and-done-wrong

I. Population,

People
Population 68,863,514 (2016)

Population Growth Rate 0.299 annual % (2016)

Age Dependency Ratio 40.067 % of working-age population

(2016)

Urban Population 51.54 % of total (2016)

Infant Mortality Rate 10.5 per 1,000 live births (2015)

Life Expectancy at Birth 75.068 years (2015)

J. Economic Statistics and activity: gdp, gnp, growth rate, personal income per capita, average income per family, income
classes

K. Primary Indigenous Resources