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Thailand
Optimizing growth, constrained by challenges in the business and political environments
B1
LOW RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in January 2024.
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GDP |
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Population |
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Form of state | Constitutional Monarchy | |
Head of government | Srettha Thavisin (PM) | |
Next elections | 2027, legislative |
Strengths & Weaknesses
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- Member of the Association of Southeast Asian Nations (ASEAN)
- Robust domestic consumption
- Strong FDI inflows as a result of firms diversifying away from China
![](/content/onemarketing/aztrade/allianz-trade_com/en_global/economic-research/country-reports/Thailand/_jcr_content/root/parsys/wrapper/wrapper/multi_column_grid_co/grid-1-par/wrapper_copy/wrapper/image.img.82.3360.png/1716971631893/minus.png)
- Weaknesses in governance and corruption
- Deficiency in skilled labor force
- Weak demographic profile
- High level of household debt
Economic Overview
Trade structure by destination/origin
(% of total, 2022)
Exports | Rank | Imports |
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United States
16.6%
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1 |
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China
12.0%
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2 |
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Japan
8.6%
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3 |
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Vietnam
4.6%
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4 |
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Malaysia
4.4%
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5 |
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Trade structure by product
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
Road vehicles
10.5%
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1 |
15.6%
Petroleum, petroleum products and related materials
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Electrical machinery, apparatus and appliances, n.e.s.
9.7%
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2 |
11.1%
Electrical machinery, apparatus and appliances, n.e.s.
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Office machines and automatic data processing machines
7.7%
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3 |
5.9%
Iron and steel
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Other industrial machinery and parts
4.8%
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4 |
5.3%
Gas, natural and manufactured
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Petroleum, petroleum products and related materials
4.7%
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5 |
3.9%
Other industrial machinery and parts
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Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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