After a rapid catch up with the OECD average, incomes stagnated recently
Thailand's old-age dependency ratio is rising faster than those of peer countries
Recent macroeconomic developments
Thailand’s labour market showed strong resilience during the pandemic
Self-employed workers in agriculture have smoothed aggregate employment
Thailand’s unemployment rate is lower than that of other emerging market economies
Major exports and imports partners
Composition of goods trade with China
The currency recovered in early 2023 after weakening against the US dollar
Financial institutions appear solid, but private debt has increased
After peaking in mid-2022, inflation has decreased as interest rates rose
The fiscal deficit is narrowing but public debt has risen
Revenue enhancement is crucial to ensure fiscal sustainability
Education spending has declined and remains low
The population is ageing rapidly
Thailand’s tax revenue is small
The tax-and-transfer system could do more to reduce income inequality
Boosting productivity is crucial to sustain high economic growth
FDI to Thailand remained relatively low compared to peers in the region
Thailand has more stringent FDI restrictions than other countries
Thailand's trade facilitation performance has improved
Services trade faces tighter restrictions than in other countries
Corruption related indicators in Thailand remained relatively low
Thailand’s share of social security contributors is low
Social security coverage has gradually expanded
The share of informal labour has declined and is lower among young generations
Employment protection is rather strong in Thailand
Young people have been more affected by unemployment
The NEET rate has increased despite low youth unemployment