COUNTRY DATA 1. Profile Population: 58.34 million (1993) Population Growth Rate: 1.3 per cent Religions: Buddhist (95%); Muslim (4%); Christian, Hindu, Sikh and other (1%) Government System: Constitutional Monarchy Language: Thai: English is the most widely spoken second language Work Week: Monday through Friday 2. Domestic Economy (millions of U.S. dollars, unless noted) 1993 1994 1995 (est.) (est.) GDP1/ 123,689 138,562 156,190 GDP Growth Rate (%)2/ 7.8 8.0 8.0 GDP per capita (U.S. dollars) 2,114 2,338 2,524 Government Spending as % of GDP 17.9 17.9 18.2 Inflation (%) 3.3 4.2 4.4 Unemployment (%) 3.2 3.3 n/a Foreign Exchange Reserves 25,400 26,6003/ n/a Average Exchange Rate for USD 1.00 25.32 25.45 25.2 Foreign Debt 42,704 n/a n/a Debt Service Ratio 10.2 n/a n/a U.S. Economic/Military Assistance 18.1 n/a n/a 1/ nominal; 2/ real; 3/ as of April 30, 1994 3. Trade (millions of U.S. dollars, unless noted) 1993 1994 1995 (est.) (est.) Total Country Exports (fob) 36,905 41,800 n/a Total Country Imports (cif) 46,127 52,600 n/a U.S. Imports 7,983 9,028 n/a U.S. Exports 5,361 6,102 n/a U.S. Share of Thai Imports (%) 12 12 n/a Imports of Manufactured Goods Total (from world) 37,172 41,800 n/a From the U.S. 4,510 n/a n/a U.S. share of manufactured imports (%) 12 n/a n/a Trade Balance with the U.S. 1,400 n/a n/a Projected Annual Growth Rate from World (%) n/a n/a n/a Projected Annual Growth Rate from U.S. (%) n/a n/a n/a Imports of Agricultural Goods 1993 1994 1995 (est.) (est.) Total (from world) 2,683 n/a n/a From the U.S. 452 n/a n/a U.S. share of agricultural imports (%) 17 n/a n/a Agricultural goods trade balance with U.S. 1,002 n/a n/a Trade Balance with Three Leading Partners in 1993 (in $ U.S. millions) Japan -7,600 USA 2,600 Singapore 1,500 Principal U.S. Exports (in $ U.S. millions) 1. Electrical Machinery and Parts 1,590 2. Non-electrical Machinery and Parts 911 3. Chemicals 409 4. Aircraft and Ships 353 5. Electrical Appliances 241 Principal U.S. Imports (in U.S. $millions) 1. Garments 879 2. Automatic Data Processing Machines and Parts 678 3. Fresh, Chilled or Frozen Shrimp and Lobsters 468 4. Precious Stones and Jewelry 435 5. Integrated Circuits 431 Sources: Bank of Thailand for Economic and Thai Trade Data: U.S. Department of Commerce for Principal U.S. Exports and Imports; 1995 estimates from Thai Government budget documents; U.S. Embassy and private forecasters 4. Investment TABLE I Net Flows of Foreign Direct Investment into Thailand by Country (Millions of $) 1991 1992 1993 Japan 611 333 367 Hong Kong 453 573 172 USA 232 466 306 Singapore 254 265 229 U.K. 10 127 163 Others 454 348 303 Total 2,014 2,117 1,540 (Source: Bank of Thailand) TABLE II Net Flows of Foreign Direct Investment into Thailand by Sector (Millions of $) 1991 1992 1993 Industry 934 688 754 Financial 267 258 116 Trade 303 279 213 Construction 130 572 138 Real Estate 143 62 182 Services 64 85 19 Mining/Quarrying 81 123 114 Others 92 50 4 Total 2,014 2,117 1,540 (Source: Bank of Thailand) TABLE III Net Flows of Thai Equity Investment Abroad by Countries (Millions of $) 1991 1992 1993 USA 47.14 32.69 67.37 Hong Kong 52.65 10.94 22.41 Singapore 34.53 19.72 21.81 EEC 15.58 20.15 11.25 Malaysia 2.86 3.15 10.14 Laos -- 5.43 11.00 Cambodia 2.11 10.21 3.47 Japan 2.38 .43 2.87 Others 10.43 34.61 127.14 Total 167.68 137.33 277.46 (Source: Bank of Thailand) TABLE IV Net Flows of Thai Equity Investment Abroad by Sector (Millions of $) 1991 1992 1993 Industry 67.0 49.1 102.7 Services 16.4 11.5 55.0 Financial Institutions 27.1 18.6 12.0 Trade 10.1 28.0 3.5 Real Estate 6.1 9.2 30.5 Other 41.2 20.9 73.8 Total 167.7 137.3 277.5 (Source: Bank of Thailand) TABLE V Value of Board of Investment Projects Starting Operations (Millions of $) 1991 1992 1993 Japan 227 417 354 Hong Kong 16 9 18 Taiwan 34 59 43 USA 8 27 17 Singapore 8 24 23 Others 25 116 135 Total 318 652 590 (Source: Board of Investment)