The Market Economy & Production of Market Goods in Thailand
The agriculture in Thailand is highly competitive, diversified, and specialized for its exports are quite successful internationally. Rice is the country’s most important crop, making Thailand a major exporter in the world rice market. In2014, exports amounted to 1.3% of GDP. However, other agricultural commodities that are produced in significant amounts as well include fishery products, tapioca, rubber, grain, and sugar. Additionally, exports of industrially processed foods such as canned tuna, pineapples, and frozen shrimp are also on the rise.
To be more specific, given the unique and vast amount of materials/resources that are readily available to the Thai people, this explains how agricultural production in Thailand accounts for an estimated 9% of Thai GDP. In terms of farming resources, cattle, used for plowing and harrowing, are very important to the rice production process. In fact, most rural households in Thailand have some cattle as well as hogs, chickens, and ducks. On the other hand, elephants, which are just as important as draft animals found in rural areas, are used to haul teak. In addition, because they are raised for their skins, crocodiles are also a speciality livestock.
Overall, production of animal products throughout the past several decades have included meat, milk, eggs, animal (cattle, crocodile) skins, and silk, each individually in hundreds and thousands of tons. In regards to water resources, fishing in both fresh rivers and canals, as well as salt water fishing (from the waters along the length coastline) play a huge role in the production of food for Thai people as well as the market economy. For one, fish are a major protein element in the Thai diet. Leading marine species in 2–3 determined that the fish harvest included sardines, anchovies, Indian mackerels, and threadfin breams, all also harvested in thousands and hundreds of thousands of tons each. Essentially, as of 2013, Thailand accounted for 6.1% of the world’s exports of fish and fish products.
On the other hand, of the 42.06 million acres of forest found in Thailand, over 50% of this area lies in the northern region of the country, where teak and pine are most predominate. Also, though about 96% of the forest area is natural, the rest exits as a result of reforestation and secondary growth. For instance, rubber trees, planted mostly in the south, make up about 10% of the forest area. The remainder consists of yang (keruing) plantations and rosewood, and other species used as fuel, as well as smaller mangrove forests and confiners. Primarily, these areas were reforested to help increase the production of traditional hardwoods that have suffered severe production declines throughout the last decade.
Other heavily produced market goods are done so through mining. Actually, one of the world’d leading producers of feldspar, gypsum, and cement is the nation of Thailand. A wide variety of industrial minerals/elements found in the environment such as tin metal, tantalum powder, zinc metal, have become leading export minerals for the country as well. Exporting these minerals has also helped the nation become a net importer of minerals, mostly because of its large import bills for coal, crude petroleum, iron, steel, aluminum, refined copper, gold, refined lead, and silver. Thus, the mining and quarrying sector once accounts for just over 2% of gross domestic product (GDP) and has since grown to almost 5%, and accounting for roughly 3% of the nations labor force. In contrast, Thailand is heavily dependent on imports of foreign oil, though the nation possesses recoverable coal reserves.
Considering the fact that the nations capital, Bangkok, is the port of entry and main distribution point for the country in its entirety, it is also known as the commercial center of Thailand. However, though vulnerable in its financial dependence on few primary commodities such as rice, rubber, tin, and teak, the nation has pursued a policy of economic diversification through industrial development and increased agricultural production.
To be more specific, given the unique and vast amount of materials/resources that are readily available to the Thai people, this explains how agricultural production in Thailand accounts for an estimated 9% of Thai GDP. In terms of farming resources, cattle, used for plowing and harrowing, are very important to the rice production process. In fact, most rural households in Thailand have some cattle as well as hogs, chickens, and ducks. On the other hand, elephants, which are just as important as draft animals found in rural areas, are used to haul teak. In addition, because they are raised for their skins, crocodiles are also a speciality livestock.
Overall, production of animal products throughout the past several decades have included meat, milk, eggs, animal (cattle, crocodile) skins, and silk, each individually in hundreds and thousands of tons. In regards to water resources, fishing in both fresh rivers and canals, as well as salt water fishing (from the waters along the length coastline) play a huge role in the production of food for Thai people as well as the market economy. For one, fish are a major protein element in the Thai diet. Leading marine species in 2–3 determined that the fish harvest included sardines, anchovies, Indian mackerels, and threadfin breams, all also harvested in thousands and hundreds of thousands of tons each. Essentially, as of 2013, Thailand accounted for 6.1% of the world’s exports of fish and fish products.
On the other hand, of the 42.06 million acres of forest found in Thailand, over 50% of this area lies in the northern region of the country, where teak and pine are most predominate. Also, though about 96% of the forest area is natural, the rest exits as a result of reforestation and secondary growth. For instance, rubber trees, planted mostly in the south, make up about 10% of the forest area. The remainder consists of yang (keruing) plantations and rosewood, and other species used as fuel, as well as smaller mangrove forests and confiners. Primarily, these areas were reforested to help increase the production of traditional hardwoods that have suffered severe production declines throughout the last decade.
Other heavily produced market goods are done so through mining. Actually, one of the world’d leading producers of feldspar, gypsum, and cement is the nation of Thailand. A wide variety of industrial minerals/elements found in the environment such as tin metal, tantalum powder, zinc metal, have become leading export minerals for the country as well. Exporting these minerals has also helped the nation become a net importer of minerals, mostly because of its large import bills for coal, crude petroleum, iron, steel, aluminum, refined copper, gold, refined lead, and silver. Thus, the mining and quarrying sector once accounts for just over 2% of gross domestic product (GDP) and has since grown to almost 5%, and accounting for roughly 3% of the nations labor force. In contrast, Thailand is heavily dependent on imports of foreign oil, though the nation possesses recoverable coal reserves.
Considering the fact that the nations capital, Bangkok, is the port of entry and main distribution point for the country in its entirety, it is also known as the commercial center of Thailand. However, though vulnerable in its financial dependence on few primary commodities such as rice, rubber, tin, and teak, the nation has pursued a policy of economic diversification through industrial development and increased agricultural production.