The economy of Thailand is export-dependent, with exports accounting for 60% of GDP. The exchange rate has reached 37.00/usd (GDP $7.3 trln baht) as of October 26, 2006, for a nominal GDP at market rates of approximately US$ 200 bln. This keeps Thailand as the 2nd largest economy in Southeast Asia, after Indonesia, a position it has held for many years. Thailand's recovery from the 1997-98 Asian financial crisis relied on exports, largely on external demand from the United States and other foreign markets. The Thaksin government took office in February 2001 with the intention of stimulating domestic demand and reducing Thailand's reliance on foreign trade and investment. Since then, the Thaksin administration has refined its economic message, embracing a "dual track" economic policy that combines domestic stimulus with Thailand's traditional promotion of open markets and foreign investment. This set of policies are popularly known as Thaksinomics. Weak export demand held 2001 GDP growth to 1.9%. In 2002-3, however, domestic stimulus and export revival fuelled a better performance, with real GDP growth at 5.3% and 6.3% respectively.
Currency Notes
Paper baht comes in denominations of 10 (brown), 20 (green), 50 (blue), 100 (red), 500 (purple) and 1000 (beige).
Currency Coins
There are 100 satang in one baht; coins include 25-satang and 50-satang pieces and baht in denominations of 1, 2, 5 and 10. |
