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%). At the same time, 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%). source: Nesdb, Thailand
GDP Growth Rate in Thailand averaged 0.84 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 October of 2021.
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 1.50 percent in 2022, according to our econometric models.