Markets Actual Q1 Q2 Q3 Q4 2023
Currency 33.03 33.36 33.51 33.67 33.83 34.15
Stock Market (points) 989.16 972 951 930 910 871
Government Bond 10Y (%) 2.20 2.16 2.24 2.31 2.38 2.54

Overview Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) -1.10 0.7 1 0.5 0.9 1.2
GDP Annual Growth Rate (%) -0.30 3 5 3.5 3.5 4
Unemployment Rate (%) 2.25 1.8 1.7 1.6 1.5 1
Inflation Rate (%) 2.17 2.8 1.8 1.5 1.5 2
Inflation Rate Mom (%) -0.38 -0.1 -0.1 0.3 0.5 0.5
Interest Rate (%) 0.50 0.75 1 1.25 1.5 1.5
Balance of Trade (USD Million) 1020.00 690 520 2260 2260 2700
Current Account (USD Million) 300.00 2300 5000 3700 3500 3500
Current Account to GDP (% of GDP) 4.20 4.5 4.5 4.5 4.5 4.5
Government Debt to GDP (% of GDP) 50.50 59 59 59 59 59
Government Budget (% of GDP) -6.10 -1.5 -1.5 -1.5 -1.5 -2
Business Confidence (points) 49.00 55 52 55 55 55
Consumer Confidence (points) 46.20 65 70 75 70 80
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) -1.10 0.7 1 0.5 0.9 1.2
GDP Annual Growth Rate (%) -0.30 3 5 3.5 3.5 4
GDP (USD Billion) 501.79 549 549 549 549 549
GDP Constant Prices (THB Million) 2436499.00 2982180 2799068 2652632 2521776 2845807
Gross National Product (THB Billion) 2507660.00 3083554 2854323 2719870 2595428 2914278
Gross Fixed Capital Formation (THB Million) 633124.00 718602 676575 689756 655283 666523
GDP per capita (USD) 6199.19 6600 6600 6600 6750 6750
GDP per capita PPP (USD) 17286.87 18100 18100 18100 18900 18900
GDP From Agriculture (THB Million) 2337023.00 132453 174028 2508871 2418819 215055
GDP From Construction (THB Million) 80613.00 80601 81900 91264 83434 64268
GDP From Manufacturing (THB Million) 646959.00 823376 765902 739460 669603 772687
GDP From Mining (THB Million) 46763.00 65378 57641 54548 48400 54519
GDP From Public Administration (THB Million) 139246.00 142881 139241 140548 144120 140629
GDP From Transport (THB Million) 136829.00 315502 158244 132825 141618 156054
GDP From Utilities (THB Million) 66986.00 97929 76037 81198 69331 62203

Labour Actual Q1 Q2 Q3 Q4 2023
Unemployment Rate (%) 2.25 1.8 1.7 1.6 1.5 1
Employed Persons (Thousand ) 37705.74 38000 38000 38000 38000 38000
Unemployed Persons (Thousand ) 871.27 400 400 400 400 350
Job Vacancies 32038.00 40000 40000 40000 40000 38000
Wages (THB/Month) 14655.51 14700 14700 14700 14700 14700
Wages in Manufacturing (THB/Month) 13527.70 13700 13700 13700 13700 13700
Minimum Wages (THB/Day) 336.00 345 345 345 345 345
Population (Million) 66.65 66.93 66.93 66.93 66.93 67.03
Labour Costs (points) 94.99 81 81 81 81 81
Productivity (points) 110.25 120 120 120 120 120
Youth Unemployment Rate (%) 8.00 5.5 5.5 5.5 5 5

Prices Actual Q1 Q2 Q3 Q4 2023
Inflation Rate (%) 2.17 2.8 1.8 1.5 1.5 2
Inflation Rate Mom (%) -0.38 -0.1 -0.1 0.3 0.5 0.5
Consumer Price Index CPI (points) 101.86 102 102 103 103 105
Core Consumer Prices (points) 100.73 102 102 102 102 103
Core Inflation Rate (%) 0.29 1.7 1.1 1.1 1 1
Producer Prices (points) 105.70 107 109 106 109 112
Food Inflation (%) 0.77 1.5 1.5 1.5 2.5 2.5
CPI Housing Utilities (points) 99.78 97.87 96.93 101 101 103
CPI Transportation (points) 104.93 105 105 105 106 106
Producer Prices Change (%) 7.75 6.5 6.5 2.5 3 3

Money Actual Q1 Q2 Q3 Q4 2023
Interest Rate (%) 0.50 0.75 1 1.25 1.5 1.5
Interbank Rate (%) 0.62 0.87 1.12 1.37 1.62 1.62
Foreign Exchange Reserves (USD Million) 245996.76 286174 286174 286174 308507 338524
Banks Balance Sheet (THB Million) 22758443.00 24139596 24139596 24139596 25661811 27169216
Loans to Private Sector (THB Million) 4691647.00 4697200 4790755 4815910 4855855 5050089
Deposit Interest Rate (%) 0.62 0.87 1.12 1.37 1.62 1.62
Central Bank Balance Sheet (THB Million) 10072236.00 9219732 9219732 9219732 9446860 9771910

Trade Actual Q1 Q2 Q3 Q4 2023
Balance of Trade (USD Million) 1020.00 690 520 2260 2260 2700
Current Account (USD Million) 300.00 2300 5000 3700 3500 3500
Current Account to GDP (% of GDP) 4.20 4.5 4.5 4.5 4.5 4.5
Imports (USD Million) 23647.91 22000 22000 22000 22700 22700
Exports (USD Million) 23647.91 25400 25400 25400 25400 25400
External Debt (USD Million) 189913.81 155000 155000 155000 155000 156000
Tourist Arrivals 91255.00 1000000 1000000 1000000 2000000 3000000
Gold Reserves (Tonnes) 244.16 154 154 154 154 154
Foreign Direct Investment (THB Million) 91022.22 15000 15000 15000 30000 40000
Crude Oil Production (BBL/D/1K) 171.00 230 230 235 245 245
Remittances (THB Billion) 18927.00 14000 14000 14000 14000 14000

Government Actual Q1 Q2 Q3 Q4 2023
Government Debt to GDP (% of GDP) 50.50 59 59 59 59 59
Government Budget (% of GDP) -6.10 -1.5 -1.5 -1.5 -1.5 -2
Government Budget Value (THB Million) -17025.00 35000 35000 35000 31933 35212
Government Spending (THB Million) 417833.00 435305 413746 427361 432457 427245
Government Revenues (THB Million) 187928.00 235000 235000 235000 235212 235212
Fiscal Expenditure (THB Million) 166623.00 200000 200000 200000 200000 200000
Military Expenditure (USD Million) 7362.00 6300 6300 6300 6300 6300

Taxes Actual Q1 Q2 Q3 Q4 2023
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
Sales Tax Rate (%) 7.00 7 7 7 7 7
Social Security Rate (%) 10.00 10 10 10 10 10
Social Security Rate For Companies (%) 5.00 5 5 5 5 5
Social Security Rate For Employees (%) 5.00 5 5 5 5 5

Business Actual Q1 Q2 Q3 Q4 2023
Business Confidence (points) 49.00 55 52 55 55 55
Industrial Production (%) 4.84 2.5 2.5 2.5 3.5 3.5
Industrial Production Mom (%) -3.50 0.3 0.3 0.3 1 1
Capacity Utilization (points) 64.51 65 65 65 67 67
Changes in Inventories (THB Million) 76335.00 80000 80000 80000 29000 29000
Car Registrations 23361.00 35000 35000 35000 39200 39200
Leading Economic Index (points) 158.14 176 176 176 178 178
Cement Production (Thousands of Ton ) 3100.70 3800 3800 3800 3800 3800
Car Production 104144.00 200000 200000 200000 25000 250000
Coincident Index (points) 127.46 132 133 133 135 137
Manufacturing PMI (points) 49.50 52 51 51 51 51
Private Investment (%) 1.30 1.1 1.5 1.5 1 1
Total Vehicle Sales (Units) 71716.00 95000 98000 98000 95000 95000

Consumer Actual Q1 Q2 Q3 Q4 2023
Consumer Confidence (points) 46.20 65 70 75 70 80
Retail Sales YoY (%) 8.30 4.5 4.5 4.5 4.5 6.1
Consumer Spending (THB Million) 1370307.00 1528329 1471879 1458876 1418268 1525753
Disposable Personal Income (THB Million) 9171848.00 9234261 9447003 9630440 9492863 9730184
Personal Savings (%) 10.00 11 11 11 11 11
Bank Lending Rate (%) 6.00 6.25 6.5 6.75 7 7
Households Debt To GDP (% of GDP) 77.50 77 77 77 77 77
Gasoline Prices (USD/Liter) 1.17 1.11 1.06 1 0.95 0.91
Consumer Credit (THB Million) 5170875.00 5011642 5249520 5415231 5351856 5386747
Personal Spending (%) 0.90 1.3 1.3 1.3 1.3 1.3

Housing Actual Q1 Q2 Q3 Q4 2023
Housing Index (points) 153.70 168 168 168 170 175
Housing Starts (units) 3864.00 8500 8500 8500 8500 9000


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Thailand Forecast - was last updated on Wednesday, January 19, 2022.