However, with the instability surrounding the major 2010 protests, the GDP growth of Thailand settled at around 4–5 percent from highs of 5–7 percent under the previous civilian administration—political uncertainty was identified as the primary cause of a decline in investor and consumer confidence. Domestic politics were also unstable. Thailand’s travel and tourism industry directly contributes an estimated 12-14% of GDP, while the expanded and informal contribution is likely at 20% or slightly above.
Industry includes mining, manufacturing, energy production, and construction. The industry’s woes were rooted in the total collapse of inbound tourism. "GDP growth (annual %) World Bank national accounts data, and OECD National Accounts data files.." [Online]. Most are employed by small businesses. The distribution gives the percentage contribution of agriculture, industry, and services to total GDP, and will total 100 percent of GDP if the data are complete. Thailand's gross domestic product shrank by 1.8 percent year-on-year in the first quarter of 2020, following a downwardly revised 1.5 percent expansion in the previous period and better than market consensus of a 4 percent contraction. In 2000, In his televised national address on 23 January 2015 in the program "Return Happiness to the People", Prime Minister He said that the policy would promote connectivity and regional economic development on a sustainable basis.
Thailand’s performance on various digital economy related indices and rankings has been mixed. Many critics, however, mistrusted the IMF and maintained that government-spending cuts harmed the recovery. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. It was the weakest GDP growth rate since the third quarter 2014 mostly due to decline in exports and as private consumption, government spending, and investment rose at a softer pace. This indicator is measured as a percentage of total GDP or … The IMF predicted that the Thai economy would rebound strongly from the low 0.1 percent GDP growth in 2011, to 5.5 percent in 2012 and then 7.5 percent in 2013, due to the accommodating monetary policy of the Bank of Thailand, as well as a package of fiscal stimulus measures introduced by the incumbent In the first two-quarters of 2011, when the political situation was relatively calm, the Thai GDP grew by 3.2 and 2.7 percent (YoY).The 2011 GDP growth rate fell to 0.1 percent, with a contraction of 8.9 percent (YoY) in Q4 alone.In 2012 Thailand was recovering from the previous year's severe flood. CTRL + SPACE for auto-complete.Mass Unemployment Looms for Thai Tourism Sector: UN