Economic Situation
Thailand is the world’s 32nd largest economy and the second largest economy in the Association of Southeast Asian Nations (ASEAN), accounting for 17% of ASEAN Gross Domestic Product (GDP). The Thai economy is predicted to grow by 3% in 2015 as it continues to battle a number of headwinds, including the slowdown of its principle export markets. 3% growth is an improvement on the poor 0.7% growth in 2014 caused by political instability, but still below trend. A key government priority is to kick-start the economy as the recovery is not as fast as hoped and proposed infrastructure spend is not coming through quickly.