Economy and Agriculture Economy -Mainly export based -World’s highest growth rate between 1985-1996 (9.4%) -Economy contracted 1.9% in 1997
Thailand Rice Fields
oAgain in 1998 by 10.8% (due to the Baht [Thai currency] reaching its lowest point ever) oAsian Financial Crisis- July 1997 §Period of financial crisis (most affected were Thailand, Indonesia and South Korea) but raised fears of worldwide economic meltdown ·Shortage of foreign exchange which caused the value of currencies to drop dramatically -Emerging economy, newly developed - Agriculture has been the primary means of employment, but industry, commerce, and services account for the 80% of the gross domestic product oWorld's largest producers of rice, and this accounts for much of the country's agricultural output Agriculture -Rice - Cassava (tapioca) - Rubber - Corn - Sugarcane - Coconuts - Soybeans - Elephants oVery important part of Thai culture §National symbol of Thailand oWhite elephants were incredibly special, they exemplified the king’s glory and honor §The more white elephants you had, the greater a king you were oSmart land mammals and hard-working §Provide transportation §War elephants used in battles against the Burmese and other countries in Asia
Economy
- Mainly export based
- World’s highest growth rate between 1985-1996 (9.4%)
- Economy contracted 1.9% in 1997
o Again in 1998 by 10.8% (due to the Baht [Thai currency] reaching its lowest point ever)
o Asian Financial Crisis- July 1997
§ Period of financial crisis (most affected were Thailand, Indonesia and South Korea) but raised fears of worldwide economic meltdown
· Shortage of foreign exchange which caused the value of currencies to drop dramatically
- Emerging economy, newly developed
-
Agriculture has been the primary means of employment, but industry, commerce, and services account for the 80% of the gross domestic product
o World's largest producers of rice, and this accounts for much of the country's agricultural output
Agriculture
- Rice
- Cassava (tapioca)
- Rubber
- Corn
- Sugarcane
- Coconuts
- Soybeans
- Elephants
o Very important part of Thai culture
§ National symbol of Thailand
o White elephants were incredibly special, they exemplified the king’s glory and honor
§ The more white elephants you had, the greater a king you were
o Smart land mammals and hard-working
§ Provide transportation
§ War elephants used in battles against the Burmese and other countries in Asia
Factbook, The World. "Thailand." CIA- The World Factbook. 23 April 2009. CIA- Central Intelligence Agency. 10 May 2009 https://www.cia.gov/library/publications/the-world-factbook/geos/th.html
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