Thailand's gross domestic product expanded by 1.4% yoy in Q4 of 2022, below the market consensus of 3.5% and easing from an upwardly revised 4.6% growth in Q3. This was the 5th consecutive period of rise, but the weakest pace in the sequence, due to a slowdown in both private consumption (5.7% vs 9.1% in Q3) and fixed investment (3.9% vs 5.5%). Also, government spending deteriorated further (-8.0% vs -1.5%), dragged down by healthcare services and social security funds related to Covid-19. Meanwhile, exports (-0.7% vs 9.5%) and imports (-4.6% vs 9.5%) turned negative. On the production side, output increased slower for transport (9.8% vs 10.1% in Q3), accommodation & food (30.6% vs 53.6%), and wholesale & retail trade (3.1% vs 3.5%); and declined for manufacturing (-4.9% vs 6.0%). For the 2022 full year, the GDP added 2.6%, compared to a downwardly revised 1.5% gain in 2021. The NESDB cut its GDP outlook for 2023 to 2.7%-3.7% from 3%-4% projected in November 2022. source: Nesdb, Thailand
GDP Annual Growth Rate in Thailand averaged 3.24 percent from 1994 until 2022, 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. This page provides - Thailand GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Thailand GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.
GDP Annual Growth Rate in Thailand is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Thailand GDP Annual Growth Rate is projected to trend around 3.30 percent in 2024 and 2.90 percent in 2025, according to our econometric models.