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- Economy_of_Thailand abstract "Thailand is a newly industrialized country. Its economy is heavily export-dependent, with exports accounting for more than two-thirds of its gross domestic product (GDP). In 2012, according to the Office of the National Economic and Social Development Board, Thailand had a GDP of 11.375 trillion baht (US$366 billion). The Thai economy grew by 6.5 percent, with a headline inflation rate of 3.02 percent and an account surplus of 0.7 percent of the country's GDP. In 2013, the Thai economy is expected to grow in the range of 3.8–4.3 percent. During the first half of 2013 (Q1-Q2/2013), the Thai economy grew by 4.1 percent (YoY). After seasonally adjustment, however, Thailand's GDP contracted by 1.7 percent and 0.3 percent in the first and the second quarters of 2013 respectively.The industrial and service sectors are the main sectors in the Thai gross domestic product, with the former accounting for 39.2 percent of GDP. Thailand's agricultural sector produces 8.4 percent of GDP—lower than the trade and logistics and communication sectors, which account for 13.4 percent and 9.8 percent of GDP respectively. The construction and mining sector adds 4.3 percent to the country’s gross domestic product. Other service sectors (including the financial, education and hotel and restaurant sectors) account for 24.9 percent of the country's GDP. Telecommunications and trade in services are emerging as centers of industrial expansion and economic competitiveness.Thailand is the second-largest economy in Southeast Asia, after Indonesia. Its per-capita GDP (US$5,390) in 2012, however, ranks in the middle of Southeast Asian per capita GDP, after Singapore, Brunei, and Malaysia. On 19 July 2013 Thailand held US$171.2 billion in international reserves, the second-largest in Southeast Asia (after Singapore). Thailand ranks second in Southeast Asia in external trade volume, after Singapore.The nation is recognized by the World Bank as \"one of the great development success stories\" in social and development indicators. Despite a low per capita gross national income (GNI) of US$5,210 and ranking 89th in the Human Development Index (HDI), the percentage of people below the national poverty line decreased from 65.26 percent in 1988 to 13.15 percent in 2011, according to the NESDB's new poverty baseline.Thailand's unemployment rate is low, reported as 0.9 percent for the first quarter of 2014. This is due to a large proportion of population working in subsistence agriculture or on other vulnerable employment (own-account work and unpaid family work).The average headline inflation rate of the first half of 2013 stands at 2.70 percent (YoY), with a policy interest rate of 2.50 percent.".
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