Factors that made Thai-economy strong

Abstract

In this article, Prof. Dr. M. Azizur Rahman analyzes the structural components and strategic policy decisions that transformed Thailand into one of the fastest-growing economies in Asia. He identifies several critical pillars of Thailand's strength: a highly successful family planning program that reduced population growth to levels comparable with Western nations, and a massive investment in human capital, with nearly 19% of the total government budget dedicated to education. The author highlights that Thailand’s economy is notably not import-dependent; its export sector accounts for more than two-thirds of its GNP, led by strong industries in automobiles (ranking 13th globally in motor vehicle production), textiles, and electronics. Furthermore, Rahman points to the country’s high literacy rate (92.6%), superior public health resulting in high life expectancy, and the significant participation of women in the workforce estimated at nearly half the labor force as primary drivers of its economic resilience.