Thailand as a country was once known for having the fastest economical growth rate during the period between the years 1985-1996. During that time the country achieved a record average growth rate of 9.4% – the fastest growth rate in the world at that time. Shortly after this period the Thai economy started to give under the strains of economic pressure and finally lead to the crisis of 1998. The economy was very weak and it was suffering greatly.

There was however some hope left as the active government was then overthrown and a new government was put in its place. The economy then started to revive slowly with generous help from the exporting of goods from the country.

Thailand at a point relied heavily on exporting to meets its expenses. Even though that has gone down somewhat, it still makes a substantial amount of its income through exporting various products.

Thailand is mostly agriculture based and has the largest percentage of arable land in the Greater Mekong sub-region at 27%. The main crop of the country is Rice and Thailand is the largest exporter of rice in the world. Every year it exports upwards of 6 million tons of milled rice. Rice cultivation accounts for over half the total land area cultivated.

The country also has a thriving high-tech industry and computers and electronics figure prominently in the countries exports. These industries are great places for an importer to start. There is a lot of demand for imported items that are either directly or indirectly required in the manufacturing and secondary/auxiliary processes in this sector.

The workforce working in this sector has a good appetite for low-cot electronic gadgets. Since some similar items are already made within the country, an importer should perform proper market research before choosing the items to be imported.

The agriculture sector can also benefit from the import of relevant low cost equipment. Since it is a major sector, an increase in productivity is desired even if it’s through imported items. You have to make them see that by buying your product they will make more money regularly.

Exporters will have quite a few options to choose from in Thailand. The Thai export business consists of home appliances, electrical items, electronic items, computer items etc. It also exports high-cost items like jewelry, automobiles etc. The large manufacturing industry is the main reason behind this large volume of trade in manufactured items. Even textile and footwear industries fall within this trade.

In the past it was customary for a Chinese businessman to receive protection from influential Thais in return for payments; in the early sixties Prime Minister General Sarit is alleged to have diverted 140 million Baht from public funds into his own bank account, and a recent study revealed that 75 percent of Thai MPs received commissions from development projects in their constituencies.

One question that preoccupies many a newcomer is whether one should be prepared to grease any palms in order to achieve one’s objectives. It is difficult to provide a satisfactory answer. As a foreigner you should steer clear of passing brown envelopes under the table during negotiations. Such actions are unlikely to smooth the way and could land you in deep trouble if you are bidding for a government contract and the Counter Corruption Commission comes to hear of your activities. The best solution is to find a reputable agent who can handle any payments that need to be made. If you try to do this yourself, you will invariably get it wrong. Every organization operating in Thailand-whether local or foreign-has its own Mr., Mrs., or Miss Fixit who has good contacts and knows exactly what to do to make the wheels run smoothly.

The problem of corruption is regularly aired in Thailand, and attempts have been made to combat political corruption, in particular. At a recent election some of the contests had to be rerun because they were shown to have been rigged. Also, some of the country’s more perspicacious leaders realize that foreign investors may shy away from countries that are institutionally corrupt. One reassuring piece of advice comes from a former British Ambassador to Thailand. “You should also know that some of the most successful Western firms in Bangkok have never ever resorted to illegal payments precisely because there are so many legal ways in which these delicate matters can be resolved to everyone’s mutual satisfaction.”