Thailand is unique. Its conservative, yet open-minded, Buddhist customs have given the Thai economy a distinctive shape. The objective of this chapter is to describe the structure of the Thai economy, narrate its evolution, and tell the story of its notorious financial crisis. We will start with the success story of the continuous and extensive growth of the Thai economy during past 50 years. It will be shown that the structure of the Thai economy has evolved immensely throughout this period in various aspects. From a primitive agricultural economy, Thailand is now quickly becoming a newly industrialized country