Thailand's gross domestic product grew by 2.8 percent year-on-year in the first quarter of 2019, following a downwardly revised 3.6 percent expansion in the previous period and below market consensus of 3.0 percent. It was the weakest GDP growth rate since the fourth quarter 2014, as both private consumption and investment rose softer, and net external contributed negatively to GDP growth. For 2019, the NESDB revised its economic forecast to 3.3-3.8 percent from 3.5-4.5 percent in February. GDP Annual Growth Rate in Thailand averaged 3.73 percent from 1994 until 2019, reaching an all time high of 15.50 percent in the fourth quarter of 2012 and a record low of -12.50 percent in the second quarter of 1998.
GDP Annual Growth Rate in Thailand is expected to be 4.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Thailand to stand at 3.50 in 12 months time. In the long-term, the Thailand GDP Annual Growth Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.