Despite Economic Slump, Thailand Retains Some Pluses.

Byline: Prapin Lalitpat

Dec. 1--Thailand retains some advantages over other countries despite its economic woes, according to Chainarong Indharameesup, the chairman of Boyden Thailand, an executive search firm.

"On the negative side, as the US economy was pushed into a recession in the wake of attacks in the US in September, the Thai economy was adversely affected with its exports expected to decline by 7.8 percent this year. Exports to the US account for about 22 percent of the country's total," he said.

The growth of Thailand's gross domestic product (GDP) for 2001, estimated by various research houses and official agencies, ranges from 1.3 percent to 2 percent, while next year's estimated growth ranges from negative 3 percent to positive 3 percent.

Predictions for unemployment range from 4.1 percent to 4.6 percent of the labour force this year and from 4 percent to 4.8 percent next year.

According to the International Institute for Management Development's 2001 world competitiveness yearbook, among 49 countries surveyed, Thailand's overall competitiveness ranking fell to 38th from 35th last year and 29th in 1997.

In government efficiency, the country's ranking fell to 39th this year from 23rd in 2000. In business efficiency, the ranking fell to 44th from 38th.