Thailand is a constitutional monarchy with tourism, manufacturing, and agriculture as key economic pillars. The country's export-oriented economy is Southeast Asia's second-largest, combining traditional strengths in agriculture (major rice exporter) and tourism with growing manufacturing sectors (particularly automotive and electronics). Key economic sectors include tourism (known for beaches, culture, and cuisine), manufacturing, agriculture, and services. Despite successful economic development and becoming an upper-middle-income country, Thailand faces challenges with income inequality, political stability, and the need to move beyond the "middle-income trap." The country maintains its own currency (Thai Baht) and has positioned itself as a major regional manufacturing and tourism hub, though it seeks to develop higher-value industries through its Thailand 4.0 initiative.