Thailand matters to Australia.
It is the second largest economy in South East Asia, our 6th largest
two-way trading partner, 7th highest source of international students
and a top 20 source of FDI. What differentiates Thailand from other ASEAN
nations is its sheer market size, the diversity of its industrial sector
and its position as a regional manufacturing hub.
Thailand offers an attractive business environment among the high-growth
Southeast Asian countries and is rated third in the region for ease of
doing business in the World Bank's Ease of Doing Business index in 2018
Doing Business 2018
, The World Bank).
Thailand is an upper middle-income country with an opening economy, gross
domestic product (GDP) of $US432.9 billion
(Source: The World Bank).
economic growth has been sluggish in recent years, it has turned around
with a growth rate of 3.5 per cent in the first half of 2017 (Source:
Asian Development Bank
) and expected to exceed 4 per cent in 2018.
Thailand is a regional and global manufacturing hub for vehicles,
automotive components, consumer electronics, and processed food and
beverages. It is also a leading exporter of agricultural commodities
(particularly rice, palm oil, rubber, sugar and seafood).
Thailand is also a significant international tourist destination with
around 35 million visitors in 2017. Bangkok continues also to lead the
world in being the top destination city, surpassing London, Paris, Dubai
and Singapore (Source:
Mastercard Destination Cities Index
The government of Thailand has announced a “Thailand 4.0” development plan
to encourage investment into a value-based, digital, innovation-driven and
services-based economy. Australia is well-positioned to participate in
Thailand’s economic transformation, especially within the government’s ten
targeted industries including automotive, electronics, high-value tourism
and medical tourism, efficient agriculture, food innovation, automation and
robotics, aerospace, bio-enegy and bio-chemicals, digital and medical and
More information on doing business in Thailand
ASEAN NOW – Insights for Australian Business
A digital report on Australia’s trade and investment relationship with ASEAN.
- Why ASEAN matters to Australia
- What’s driving growth
- Opportunities by ASEAN market
- Practical tips and assistance
- Case studies.