section_path: Economy/Exports and manufacturing
section_name: Exports and manufacturing
paragraph_text: Exports and manufacturing
  
  The economy of Thailand is heavily export-dependent, with exports accounting for more than two-thirds of gross domestic product (GDP). Thailand exports over US$105 billion worth of goods and services annually. Major exports include cars, computers, electrical appliances, rice, textiles and footwear, fishery products, rubber, and jewellery.
  
  Substantial industries include electric appliances, components, computer components, and vehicles. Thailand's recovery from the 1997–1998 Asian financial crisis depended mainly on exports, among various other factors. As of 2012, the Thai automotive industry was the largest in Southeast Asia and the 9th largest in the world. The Thailand industry has an annual output of near 1.5 million vehicles, mostly commercial vehicles.
  
  Most of the vehicles built in Thailand are developed and licensed by foreign producers, mainly Japanese and American. The Thai car industry takes advantage of the ASEAN Free Trade Area (AFTA) to find a market for many of its products. Eight manufacturers, five Japanese, two US, and Tata of India, produce pick-up trucks in Thailand. As of 2012, due to its favorable taxation for 2-door pick-ups at only 3–12% against 17–50% for passenger cars, Thailand was the second largest consumer of pick-up trucks in the world, after the US. In 2014, pick-ups accounted for 42% of all new vehicle sales in Thailand.