economic situation of thailand ittm technology transfer c socio cultural profile area 513 120 sq km climate tropical monsoon population 63 million annual birth rate 1 ethnic groups thai 89 other 11 religions buddhist 94 6 muslim 4 christian hindu brahmin others education literacy 95 male 91 female health life expectancy 67 9 years 74 government type constitutional monarchy independence never colonized traditional founding date 1238 branches king chief state prime minister head political parties multi party system but communist is prohibited s in brief the industrialization strategy late 1950s focused on expanding investment infrastructure and primary increasing agricultural output promoting import substitution industries a worsening balance payments 1960s led to policy shift toward export promotion worldwide recessions following two oil shocks together with domestic unrest 1970s slowdown real gdp growth reacted quickly efficiently by adopting series adjustment policies reforms economy accelarated sharply 1980s rapid was characterized surging exports boom at
