Understanding Thailand Economy

Thailand is a great place to visit. Thailand is place not just full of rich culture but also of eventful incidents.

For example, September 19, 2006 was the date when a coup occurred in Thailand and disrupted the democratic constitutional monarchy. On October 1, 2006, the Gen. Surayud Chulanont was declared the new Prime Minister, along with the swearing of Thailand's monarch in the post-coup cabinet.

However, despite this drastic change, it did not deter the spirit of Thailand or affect the people as such. This was because the change was not physical but constitutional. It also did not have any effect on the tourism coming to see and enjoy the splendor and beauty of Thailand. Around 5 percent of Thai's GDP is contributed by tourism.

In addition to tourists, rice exports also contribute substantially to Thailand's economy. Every year, Thailand exports around 6.5 million tons of milled rice and is ranked number one in the world in the rice export. Rice is the staple food of the country and 55 percent of the available land area is dedicated to rice cultivation. If you are a food expert, you must have heard of the famous Thai rice served with Thai chicken curry.

In addition to rice, other major products that are exported include fish products, rubber, textiles, jewelry, computers and electronic appliances, automobiles, and many more.

Thailand is rich in natural resources as well. Fish, tin, rubber, natural gas, timber, tungsten, tantalum, lead, gypsum, lignite, fluorite and arable land are all considered to be the natural resources of Thailand.