Thailand's economy shrank 1.1% qoq in Q3 2021, compared with market forecasts of a 2.5% drop and after a 0.1% growth in Q2. This was the first quarterly contraction since Q2 2020, due to the spread of the Delta strain, low vaccination rate, and global supply chain issues. Household consumption fell for the third straight quarter (-1.5% vs -2.4% in Q2), amid a steeper drop in fixed investment (-2.6% vs -0.7%). Also, net external demand contributed negatively as exports shrank (-5%) while imports grew (3.4%). On the other hand, government spending growth accelerated, rising for the 2nd quarter running (2.4% vs 1.3%), boosted by social transfer and rising expenses related to the pandemic. On the production side, activity in the nonagricultural sector shrank for the 2nd straight quarter and at a steeper pace (-1.3% vs -0.3%), with industrial falling for the first time in five quarters (-5.9% vs 0.4%). In contrast, agricultural output went up at a stronger rate (3.2% vs 2.8%). source: Nesdb, Thailand

GDP Growth Rate in Thailand averaged 0.82 percent from 1993 until 2021, 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 January of 2022.

GDP Growth Rate in Thailand is expected to be 1.50 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 0.90 percent in 2022 and 1.20 percent in 2023, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Thailand GDP Growth Rate


Thailand GDP Growth Rate
Thailand is an export oriented emerging economy. As a result, manufacturing is the most important sector and accounts for 34 percent of GDP. Services constitute around 44 percent of GDP. Within services, the most important are wholesale and retail trade (13 percent of GDP); transport, storage and communication (7 percent of GDP); hotels and restaurants (5 percent of GDP) and public administration, defense and social security (4.5 percent of GDP). Agriculture also makes a significant contribution - around 13 percent of GDP.
Actual Previous Highest Lowest Dates Unit Frequency
-1.10 0.40 9.40 -9.40 1993 - 2021 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2021-08-16 02:30 AM Q2 0.4% 0.2% -1.4% -1.2%
2021-11-15 02:30 AM Q3 -1.1% 0.1% -2.5% -2.7%
2022-02-15 02:30 AM Q4 -1.1%


Related Last Previous Unit Reference
GDP Growth Rate -1.10 0.40 percent Sep/21
GDP Annual Growth Rate -0.30 7.60 percent Sep/21
GDP Constant Prices 2436499.00 2526316.00 THB Million Sep/21
Gross National Product 2507660.00 2590352.00 THB Billion Sep/21
Gross Fixed Capital Formation 633124.00 656910.00 THB Million Sep/21
GDP From Utilities 66986.00 77331.00 THB Million Sep/21
GDP From Transport 136829.00 126500.00 THB Million Sep/21
GDP From Public Administration 139246.00 133855.00 THB Million Sep/21
GDP From Mining 46763.00 51950.00 THB Million Sep/21
GDP From Manufacturing 646959.00 704248.00 THB Million Sep/21
GDP From Construction 80613.00 86918.00 THB Million Sep/21
GDP From Agriculture 2337023.00 2389401.00 THB Million Sep/21


News Stream
Thailand Quarterly GDP Contracts Less than Expected
Thailand's economy shrank 1.1% qoq in Q3 2021, compared with market forecasts of a 2.5% drop and after a 0.1% growth in Q2. This was the first quarterly contraction since Q2 2020, due to the spread of the Delta strain, low vaccination rate, and global supply chain issues. Household consumption fell for the third straight quarter (-1.5% vs -2.4% in Q2), amid a steeper drop in fixed investment (-2.6% vs -0.7%). Also, net external demand contributed negatively as exports shrank (-5%) while imports grew (3.4%). On the other hand, government spending growth accelerated, rising for the 2nd quarter running (2.4% vs 1.3%), boosted by social transfer and rising expenses related to the pandemic. On the production side, activity in the nonagricultural sector shrank for the 2nd straight quarter and at a steeper pace (-1.3% vs -0.3%), with industrial falling for the first time in five quarters (-5.9% vs 0.4%). In contrast, agricultural output went up at a stronger rate (3.2% vs 2.8%).
2021-11-15
Thailand Quarterly GDP Unexpectedly Expands
Thailand's economy unexpectedly grew by 0.4% qoq in Q2, beating market estimates of a 1.4% contraction and accelerating from a 0.2% increase in Q1. This was the fourth straight quarterly expansion, amid robust government stimulus and despite fresh COVID-19 outbreaks and lockdown measures. Government spending rose for the first time in three quarters (1.2% vs -0.3% in Q1), and net external demand contributing positively to the GDP as exports went up 10.8% (vs 8.9% in Q1) while imports rose at a softer 4.7% (vs 12.5%). Meantime, fixed investment slowed sharply (0.5% vs 4%), while household consumption fell much faster (-2.5% vs -0.6%). On the production side, agricultural output increased for the first time since Q3 2020 (2.7% vs -1.4%), while activity in the nonagricultural sector stagnated (vs 0.3%), with industrial output slowing (1.8% vs 2.3%) while services activity falling further (-0.8% vs -0.6%).
2021-08-16
Thailand Economy Unexpectedly Grows 0.2% QoQ in Q1
Thailand's economy unexpectedly advanced 0.2% quarter-on-quarter in the three months to March 2021, easily beating market estimates of a 0.8 percent contraction and after a downwardly revised 1.1% growth in the prior period, amid easing COVID-19 restrictions. Growth was mainly supported by a rebound in fixed investment (3.9% vs -0.7% in Q4). Meantime, there were falls in both household consumption (-0.4% vs 1.4%) and government spending (-0.4% vs -1.7%). Also, net external demand contributing negatively to the GDP, as exports grew by 8% (vs -1.3% in Q4) while imports rose at a faster 12.9% (vs 8.3%). On the production side, activity grew much softer in the nonagricultural sector (0.3% vs 1.4%), with industrial output rising (2.2% vs 1.9%) while services activity falling (-0.5% vs 1.2%). Meanwhile, agricultural output shrank 1.7%, after declining 1.6% in Q4.
2021-05-17