Thailand is located in the center of Southeast Asia and consists of two main geographic areas: a larger section in the north and a smaller peninsular extension in the south. It is bordered by Laos and Cambodia to the east, the Gulf of Thailand and Malaysia to the south, the Andaman Sea and Myanmar to the west, and Laos and Myanmar to the north.
53.9%
Urban population (2023)
46.1%
Rural population (2023)
48.8%
Male (2023)
51.2%
Female (2023)
18%
Baby boomer (2023)
25%
Gen X (2023)
23%
Gen Y (2023)
20%
Gen Z (2023)
Employment profile
The labour force reached
in 2023
68.35%
Participation rate (2023)
98.3%
Employment rate (2023)
80%
Labour force at MSMEs (2023)
14%
High-skilled labour ratio (2017)
US$ 842
Monthly average income (2023)
14%
Attrition rate (2023)
30.4%
Employment in Agriculture (2022)
22.2%
Employment in Industry (2022)
47.3%
Employment in Services (2022)
Economic profile
The 28th largest economy of the world
US$ 514.95B
GDP (2023)
US$ 7,810
GDP per capita (2023)
US$ 36B
Digital economy GMV (2023)
US$ 18.7B
ICT market size (2023)
99%
Percentage of SMEs (2023)
US$ 521.3M
Total capital invested in startups (2023)
The 2nd-largest economy in Southeast Asia
FDI inflows
Thailand attracted nearly 22.8 billion dollars in foreign direct investment in 2023
Export turnovers
Exports of Thailand reached US$ 284.6 billion in 2023
Newly-established businesses
In 2023, 85,300 new businesses were established in Thailand
US$ 22.8B
FDI Inflow (2023)
Leading FDI sectors
Electrical and electronics
40.1%
Automotive & parts
9.8%
Agriculture & food
8.8%
Petrochemicals and chemicals
5.5%
Biotechnology
3.8%
US$ 284.6B
Export turnovers (2023)
Leading export sectors
Automobiles, equipment, and parts
10.9%
Computers and parts
6.3%
Gems and jewelry
5.2%
Rubber products
4.7%
Refined oil
3.6%
Electronic circuits
3.4%
85,300
Number of newly-established businesses (2023)
Top industries
General building construction
7.6%
Real estate
7.5%
Restaurants
4.7%
Consulting services
2.4%
Brokerage
2.3%
Internet Retail
2.0%
By region
Central region
20.6%
Southern region
13.7%
Eastern region
12.8%
Northeastern region
10.5%
Northern region
10.1%
Western region
2.8%
Doing business in Thailand
Opportunities & challenges
Opportunities
• Regional hub, long coastlines
• Well capitalised commercial banks with high loan-loss provisions
• Diversified exports
• Fast growing economy
• Thailand is richly endowed with agricultural resources
Looking to expand in Thailand?
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