Thailand has a free enterprise economy and welcomes foreign investment. Exports feature computers and electrical appliances. After enjoying the world's highest growth rate from 1985 to 1995 - averaging almost 9% annually - increased speculative pressure on Thailand's currency in 1997 led to a crisis that uncovered financial sector weaknesses and forced the government to float the baht. Long pegged at 25 to the dollar, the baht reached its lowest point of 56 to the dollar in January 1998, and the economy contracted by 10.2% that same year. Thailand then entered a recovery stage, expanding by 4.2% in 1999 and 4.4% in 2000, largely due to strong exports. An ailing financial sector and the slow pace of corporate debt restructuring, combined with a softening of global demand, slowed growth to 1.4% in 2001. Increased consumption and investment spending pushed GDP growth up to 5.2% in 2002 despite a sluggish global economy.

purchasing power parity - $445.8 billion (2002 est.)

5.3% (2002 est.)

purchasing power parity - $7,000 (2002 est.)

agriculture: 11%
industry: 40%
services: 49% (2001)

12.5% (1998 est.)

0.6% (2002 est.)

33.4 million (2001 est.)

agriculture 54%, industry 15%, services 31% (1996 est.)

2.9% (2002 est.)

tourism; textiles and garments, agricultural processing, beverages, tobacco, cement, light manufacturing, such as jewelry; electric appliances and components, computers and parts, integrated circuits, furniture, plastics; world's second-largest tungsten producer and third-largest tin producer

3% (2000 est.)