Thailand's economy expanded 0.7% qoq in Q2 of 2021, less than market consensus of a 0.9% growth and after a marginally revised 1.2% increase in Q4. The latest figure pointed to the softest expansion in three quarters, amid growing inflationary pressures and the impact of COVID-19 disruptions. Household consumption grew the least since a fall in Q3 2021 (1.7% vs 2.8% in Q1); while government spending dropped at a steeper rate (-3% vs -0.7%), reflecting a sharp decline in social transfers. Also, fixed investment shrank after gaining in the prior two periods (-1.1% vs 2.6%). Net external demand contributed negatively, as exports (4.8% vs 3.9%) grew less than imports (5.4% vs 1.9%). On the production side, the non-agricultural sector expanded the least in three quarters (0.5% vs 1%), amid a fall in industrial output (-0.9% vs 0.2%) and stable growth in services activity (at 1.7%). Also, agricultural output slowed sharply(1.3% vs 3.8%). source: Nesdb, Thailand
GDP Growth Rate in Thailand averaged 0.83 percent from 1993 until 2022, reaching an all time high of 9.40 percent in the first quarter of 2012 and a record low of -9.40 percent in the second quarter of 2020. This page provides - Thailand GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Thailand GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
GDP Growth Rate in Thailand is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Thailand GDP Growth Rate is projected to trend around 1.00 percent in 2023 and 1.20 percent in 2024, according to our econometric models.