Thailand Trade : A Country 's Largest Exporter Of Rice

The above chart from the Global competitive Report(2013-14) points out the most problematic factors to do business in Thailand.

The economy is known as a new emerging economy especially after entering WTO in 2007. The Foreign Direct Investment (FDI) has increase considerably and the GDP is over 8% in the period of three years (2005-2007). Nonetheless, it is clear that the economic instability occurs after WTO accession of Vietnam 1 year. Consequently, the economy has suffered surging inflation as well as trade and fiscal deficit. (Figure 1)

Thailand has been the major exporter of agriculture products in the worlds for decades, but they, also, have been gradually industrializing themselves in recent years. Thailand's international trade has expanded over 600% over the past 20 years. Manufacturing exports hold 86% of the country's total exports as of September 2014 ("BOI: Thailand Investment Review," 2014). Manufacturing industry nowadays has become one the major factors encouraging the economy performance of a country and so as Thailand.

Political chaos , protesting , turmoil , and crisis are all words that can be linked to Thailand in recent weeks and on and off over the last eight years. From November 2013 until February 2014, there was constant distress throughout the country relating to the current political system and the leaders of Thailand. People were flooding the streets in Bangkok to protest the government or waving Thai flags to show support of Thailand.

Hong Kong: Hong Kong was the world’s 7th largest trading entity in good in 2013, Tariff free treatment to all Hong-Kong origin goods. Hong Kong has a strategic geographical location, well-developed infrastructure and international communication network.

"China is the largest exporter to the U.S. economy in virtually all consumer goods categories. Wal-Mart is the leading retailer in the U.S. economy in virtually all consumer goods categories. Wal-Mart and China are a joint venture. " When trade agreements were signed between the U.S. and China in the 1990s, bringing China into the World Trade Organization, American political and business leaders embraced the idea. China's 1.2 billion people were viewed as an enormous untapped market for American-made goods.

Economic Considerations: Thailand is great developing country because of the smart economic policies but political environment is not stable so there is effect for investors to pay attention much to invest.

When comparing Thailand and the United States of America, there are many differences. For example, the way each country is located on the globe. Thailand is located below and closer to the equator than the U.S., where it is above the equator and a little farther from it. On the other hand, both countries have a lot of beautiful places and are surrounded by body of oceans. Lots of people like to visit these two countries; however, most people in Thailand want to move to the U.S. for jobs and better lives. Most people in the U.S. like to visit Thailand for good food and warm weather. Although, not all differences are bad, there are some major differences that make living in one country better than the other. Those include lifestyle, education,

Starting from an extremely low base, Laos’ GDP growth rate has an average of 7 % since 1990s (Sondergaard) until the Asian currency crisis hit its economy in 1997 (“Laos Profile - Overview”). Laos then experienced a second economic crisis of its history. The national currency lost “more than nine-tenth of its value” (“Laos Profile - Overview”) and

There have been recent concerns about the United States’ involvement with China’s economic rise. A concern about China’s growth surpassing the United States in economic size within the decade and regulating purchases of power. China’s economy grew in 1979 upon opening to foreign trade, investment and a free market. The increase of China's economy caused the gross domestic product to grow in 2016 by ten percent. China soon had the lead in being the largest economic manufacture, merchandise exporter and importer and holder of foreign exchange reserves. Their control as one of the largest economies encouraged the United States to have commercial ties with them. China's huge influence made it the United States’ second largest trading partner,

this trade agreement fully takes effect (Trans 2014). In regards to the Asia Pacific region, “The region is home to 40% of the world’s population, produces nearly 60% of global GDP, and includes some of the fastest growing economies in the world (Williams 2013).” Also, trade with United States of America is “…the equivalent of $1.6 billion a day in goods--… (US 2013).” In addition, “The United States is Canada's largest foreign

In terms of geographical breakdown of exports, China's major trading partner is Asia accounting for around 51 per cent followed by USA 22 per cent and Europe per cent.

Thailand’s economy is surprisingly resilient. They have proven their economic strength by surviving years of political turmoil. They also have a solid reputation for attracting export-oriented manufacturing industries from foreign investors for processed foods and beverages. Thailand brought in approximately $52.3 million in revenue for 2016, through the food and beverage market. Thailand is projected to see a rise in revenue, from $52 million USD in 2016 to $125 million USD in 2021, making Thailand more marketable for opportunistic foreign

As explained in the paragraph above, the 2009-2010 total trade did not improve much from the year earlier as because the whole global economy system was affected by the credit crisis started in the mortgage problem from the United States. Nonetheless, since 2010 onwards the total trade kept then significantly increased annually as in 2010-2011 the total trade is 6.54 billion USD. In addition the numbers total trade were 8.34 and 9.19 billion USD, respectively in 2011-12 and 2012-13. Although we see the positive trends of trading patterns in earlier year, in 2013-14 we see a slight decline in the total trade, which could be affected by factors such as the appreciation of exchange rates or even the non-economic factors like political stability in Thailand. Consequently, the total trade in 2014-2015 was improved, the growth can be seen again by comparing to the earlier years.

Improving the value of exports is the primary goal of Thailand’s international trade policy. The Association of Southeast Asian Nations (ASEAN) Economic Community (AEC) was established as an effective cooperative strategy for gaining market advantages through regional market integration. Thailand aims to capitalize on trade agreements by networking and entering partnership with neighboring countries. Currently, Thailand’s cross-border trade in the Greater Mekong Subregion (GMS) plays a crucial role in globalization, because it facilitates rapid and convenient trade and investment. Countries seek new export markets to disperse the risk of domestic market concentration, as evidenced by the economic recessions affecting