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Thailand Q4 GDP Annual Growth Beats Forecasts
Thailand’s GDP expanded 2.5% yoy in Q4 2025, accelerating from Q3's four-year low of 1.2% and topping market forecasts of 1%. The latest result came amid a rebound in tourism and ongoing government support measures.
Published on 2026-02-16

Thailand Q4 GDP Annual Growth Beats Forecasts
Thailand’s GDP expanded 2.5% yoy in Q4 2025, accelerating from Q3's four-year low of 1.2% and topping market forecasts of 1%. Private consumption rose the most in a year (3.3% vs 2.5% in Q3), supported by ongoing Bangkok's support measures. At the same time, government spending increased 1.3%, after falling 3.9% previously. Meanwhile, fixed investment picked up sharply (8.1% vs 1.4%). On the trade front, exports slowed (5.6% vs 7.6%) while imports accelerated (9.1% vs 5.9%). By production, non-agriculture quickened (2.7% vs 1.2%), with industrial output rebounding amid growth in mining and manufacturing. Also, services activity quickened, led by construction, wholesale and retail trade, financials, and transport. Meanwhile, the agriculture eased (0.3% vs 2.1%), reflecting a slowdown in agriculture, forestry, and fishing. The economy is expected to grow between 1.5% to 2.5% this year.
Published on 2026-02-16

Thailand Q4 GDP Annual Growth Beats Forecasts
Thailand’s GDP expanded 2.5% yoy in Q4 2025, accelerating from Q3's four-year low of 1.2% and topping market forecasts of 1%. Private consumption rose the most in a year (3.3% vs 2.5% in Q3), supported by ongoing Bangkok's support measures. At the same time, government spending increased 1.3%, after falling 3.9% previously. Meanwhile, fixed investment picked up sharply (8.1% vs 1.4%). On the trade front, exports slowed (5.6% vs 7.6%) while imports accelerated (9.1% vs 5.9%). By production, non-agriculture quickened (2.7% vs 1.2%), with industrial output rebounding amid growth in mining and manufacturing. Also, services activity quickened, led by construction, wholesale and retail trade, financials, and transport. Meanwhile, the agriculture eased (0.3% vs 2.1%), reflecting a slowdown in agriculture, forestry, and fishing.
Published on 2026-02-16

Thailand Cuts 2025 GDP Growth Forecast to 2.2%
Thailand’s Finance Ministry expects the economy to grow by 2.2% in 2025, slower than an earlier estimate of 2.4% and easing from 2.5% in 2024, due to moderating exports and domestic demand, said Vinit Visessuvanapoom, head of the ministry’s Fiscal Policy Office, at a press conference, according to Reuters. Meanwhile, GDP growth is forecast to remain at 2.0% this year, with exports expected to rise 1.0%, compared with an earlier forecast of a 1.5% decline. The central bank has forecast economic growth of 1.5% in 2026. Thailand’s economy has been struggling with US tariffs, an appreciating baht, high household debt, border tensions with Cambodia, and political uncertainty ahead of elections in early February. The baht has gained about 1.4% against the dollar so far this year, following a 9% rise in 2025, threatening the competitiveness of the export and tourism sectors.
Published on 2026-01-27

Thailand Cuts 2025 GDP Growth Forecast to 2.2%
Thailand’s Finance Ministry expects the economy to grow by 2.2% in 2025, slower than an earlier estimate of 2.4% and easing from 2.5% in 2024, due to moderating exports and domestic demand, said Vinit Visessuvanapoom, head of the ministry’s Fiscal Policy Office, at a press conference, according to Reuters. Meanwhile, GDP growth is forecast to remain at 2.0% this year, with exports expected to rise 1.0%, compared with an earlier forecast of a 1.5% decline. The central bank has forecast economic growth of 1.5% in 2026. Thailand’s economy has been struggling with US tariffs, an appreciating baht, high household debt, border tensions with Cambodia, and political uncertainty ahead of elections in early February. The baht has gained about 1.4% against the dollar so far this year, following a 9% rise in 2025, threatening the competitiveness of the export and tourism sectors.
Published on 2026-01-27

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP expanded 1.2% year-on-year in Q3 2025, slowing from 2.8% growth in Q2 and falling short of market expectations of 1.6%. This marked the slowest growth since Q3 2021, when the economy recorded a contraction.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP expanded 1.2% yoy in Q3 2025, slowing from 2.8% growth in Q2 and falling short of market expectations of 1.6%. This marked the slowest growth since Q3 2021, when the economy recorded a contraction, driven by softer increases in fixed investment (1.1% vs 5.8% in Q2) and a decline in government spending (-3.9% vs 2.2%), while private consumption growth remained steady (2.6% vs 2.6% in Q2). The decline in government spending was mainly due to lower compensation of employees and reduced social transfers in kind. On the external front, exports grew 6.9% (vs 11.2% in Q2), outpacing imports, which rose 4.6% (vs. 10.8%), contributing positively to GDP. The slowdown in export growth was partly due to the impact of newly imposed US tariffs. On the production side, growth slowed in both the agricultural sector (1.9% vs 6.4%) and the non-agricultural sector (1.2% vs. 2.5%). For the first three quarters of 2025, Thailand’s economy grew by 2.4%.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP grew 1.2% yoy in Q3 2025, slowing from 2.8% in Q2 and missing market expectations of 1.6%. It was the slowest pace since Q3 2021, weighed down by sluggish factory output, softer tourism activity, and rising concerns over the impact of higher U.S. tariffs. Fixed investment growth eased sharply (1.1% vs 5.8% in Q2), while government spending declined (-3.9% vs 2.2%), and private consumption growth remained steady (at 2.6%).On the external front, both exports (6.9% vs 11.2% in Q2) and imports (4.6% vs 10.9%) grew at a slower pace, though net trade still contributed positively to GDP. The moderation in export growth reflected the drag from newly imposed U.S. levies. Production-wise, output growth slowed in both agriculture (1.9% vs 6.4%) and non-agriculture (1.2% vs 2.5%). For the first three quarters of the year, the economy expanded 2.4%. The government also trimmed its 2025 GDP growth forecast to 2.0% from a previous range of 1.8%–2.3%.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP expanded 1.2% year-on-year in Q3 2025, slowing from 2.8% growth in Q2 and falling short of market expectations of 1.6%. This marked the slowest growth since Q3 2021, when the economy recorded a contraction, driven by softer increases in fixed investment (1.1% vs. 5.8% in Q2) and a decline in government spending (-3.9% vs. 2.2%), while private consumption growth remained steady (2.6% vs. 2.6% in Q2). The decline in government spending came due to a decline in compensation of employees and social transfers in kind. On the external front, exports grew 6.9% (vs. 11.2% in Q2), outpacing imports, which rose 4.6% (vs. 10.8%), contributing positively to GDP.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP grew 1.2% yoy in Q3 2025, slowing from 2.8% in Q2 and missing market expectations of 1.6%. It was the slowest pace since Q3 2021, weighed down by sluggish factory output, softer foreign tourist arrivals, and rising concerns over the impact of higher U.S. tariffs. Fixed investment growth eased sharply (1.1% vs 5.8% in Q2), while government spending declined (-3.9% vs 2.2%), and private consumption growth remained steady (at 2.6%).On the external front, both exports (6.9% vs 11.2% in Q2) and imports (4.6% vs 10.9%) grew at a slower pace, though the trade balance still contributed positively to GDP. The moderation in export growth partly reflected the drag from newly imposed U.S. tariffs. Production-wise, activity slowed in both agriculture (1.9% vs 6.4%) and non-agriculture (1.2% vs 2.5%). For the first three quarters of the year, the economy expanded 2.4%. The government also trimmed its 2025 GDP growth forecast to 2.0% from a previous range of 1.8%–2.3%.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP expanded 1.2% yoy in Q3 2025, slowing from 2.8% growth in Q2 and missing market expectations of 1.6%. This marked the slowest growth since Q3 2021, when the economy recorded a contraction, weighed down by weaker tourism and manufacturing amid domestic political uncertainty and a border conflict. Fixed investment growth eased to 1.1% (vs 5.8% in Q2), while government spending declined (-3.9% vs 2.2%), and private consumption growth remained steady at 2.6%. On the external front, exports grew 6.9% (vs 11.2% in Q2), outpacing imports, which rose 4.6% (vs 10.9%), contributing positively to GDP. The slowdown in export growth was partly due to the impact of newly imposed US tariffs. On the production side, growth slowed in both the agricultural sector (1.9% vs 6.4%) and the non-agricultural sector (1.2% vs. 2.5%). For the 1st three quarters of 2025, the economy grew by 2.4%. The government revised its 2025 GDP growth forecast to 2.0% from a range of 1.8% to 2.3% seen earlier.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP expanded 1.2% yoy in Q3 2025, slowing from 2.8% growth in Q2 and falling short of market expectations of 1.6%. This marked the slowest growth since Q3 2021, when the economy recorded a contraction, driven by softer increases in fixed investment (1.1% vs 5.8% in Q2) and a decline in government spending (-3.9% vs 2.2%), while private consumption growth remained steady (2.6% vs 2.6% in Q2). The decline in government spending was mainly due to lower compensation of employees and reduced social transfers in kind. On the external front, exports grew 6.9% (vs 11.2% in Q2), outpacing imports, which rose 4.6% (vs 10.9%), contributing positively to GDP. The slowdown in export growth was partly due to the impact of newly imposed US tariffs. On the production side, growth slowed in both the agricultural sector (1.9% vs 6.4%) and the non-agricultural sector (1.2% vs. 2.5%). The government revised its 2025 GDP growth forecast to 2.0% from a range of 1.8% to 2.3% seen earlier.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP expanded 1.2% yoy in Q3 2025, slowing from 2.8% growth in Q2 and missing market expectations of 1.6%. This marked the slowest growth since Q3 2021, pressured by a slowdown in factory output, weaker foreign tourist arrivals, and concerns over the impact of rising U.S. tariffs. Fixed investment growth deteriorated (1.1% vs 5.8% in Q2), while government spending declined (-3.9% vs 2.2%), and private consumption growth remained steady at 2.6%. On the external front, exports grew 6.9% (vs 11.2% in Q2), outpacing imports, which rose 4.6% (vs 10.9%), contributing positively to GDP. The slowdown in export growth was partly due to the impact of newly imposed US tariffs. On the production side, growth slowed in both the agricultural sector (1.9% vs 6.4%) and the non-agricultural sector (1.2% vs. 2.5%). For the first three quarters of the year, the economy grew by 2.4%. The government revised its 2025 GDP growth forecast to 2.0% from a n earlier range of 1.8% to 2.3%.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP expanded 1.2% year-on-year in Q3 2025, slowing from 2.8% growth in Q2 and falling short of market expectations of 1.6%. This marked the slowest growth since Q3 2021, when the economy recorded a contraction, driven by softer increases in fixed investment (1.1% vs. 5.8% in Q2) and a decline in government spending (-3.9% vs. 2.2%), while private consumption growth remained steady (2.6% vs. 2.6% in Q2). On the external front, exports grew 6.9% (vs. 11.2% in Q2), outpacing imports, which rose 4.6% (vs. 10.8%), contributing positively to GDP.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP expanded 1.2% year-on-year in Q3 2025, slowing from 2.8% growth in Q2 and missing market expectations of 1.6%. This marked the slowest growth since Q3 2021, when the economy recorded a contraction, weighed down by weaker tourism and manufacturing amid domestic political uncertainty and a border conflict. Fixed investment growth eased to 1.1% (vs 5.8% in Q2), while government spending declined (-3.9% vs 2.2%), and private consumption growth remained steady at 2.6%. On the external front, exports grew 6.9% (vs 11.2% in Q2), outpacing imports, which rose 4.6% (vs 10.9%), contributing positively to GDP. The slowdown in export growth was partly due to the impact of newly imposed US tariffs. On the production side, growth slowed in both the agricultural sector (1.9% vs 6.4%) and the non-agricultural sector (1.2% vs. 2.5%). The government revised its 2025 GDP growth forecast to 2.0% from a range of 1.8% to 2.3% seen earlier.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP grew 1.2% yoy in Q3 2025, slowing from 2.8% in Q2 and missing market expectations of 1.6%. It was the slowest pace since Q3 2021, weighed down by sluggish factory output, softer foreign tourist arrivals, and rising concerns over the impact of higher U.S. tariffs. Fixed investment growth deteriorated (1.1% vs 5.8% in Q2), while government spending declined (-3.9% vs 2.2%), and private consumption growth remained steady at 2.6%. On the external front, exports grew 6.9% (vs 11.2% in Q2), outpacing imports, which rose 4.6% (vs 10.9%), contributing positively to GDP. The slowdown in export growth was partly due to the impact of newly imposed US tariffs. On the production side, growth slowed in both the agricultural sector (1.9% vs 6.4%) and the non-agricultural sector (1.2% vs. 2.5%). For the first three quarters of the year, the economy grew by 2.4%. The government revised its 2025 GDP growth forecast to 2.0% from a n earlier range of 1.8% to 2.3%.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP grew 1.2% yoy in Q3 2025, notably slowing from 2.8% in Q2 and missing market expectations of 1.6%. It was the slowest yearly expansion since Q3 2021, weighed down by sluggish factory output, softer tourism activity, and rising concerns over the impact of higher U.S. tariffs. Fixed investment growth eased sharply (1.1% vs 5.8% in Q2), while government spending declined (-3.9% vs 2.2%), and private consumption growth remained steady (at 2.6%).On the external front, both exports (6.9% vs 11.2% in Q2) and imports (4.6% vs 10.9%) grew at a slower pace, though net trade still contributed positively to GDP. The moderation in export growth reflected the drag from newly imposed U.S. levies. Production-wise, output growth slowed in both agriculture (1.9% vs 6.4%) and non-agriculture (1.2% vs 2.5%). For the first three quarters of the year, the economy expanded 2.4%. The government also trimmed its 2025 GDP growth forecast to 2.0% from a previous range of 1.8%–2.3%.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP expanded 1.2% year-on-year in Q3 2025, slowing from 2.8% growth in Q2 and falling short of market expectations of 1.6%. This marked the slowest growth since Q3 2021, when the economy recorded a contraction, driven by softer increases in fixed investment (1.1% vs. 5.8% in Q2) and a decline in government spending (-3.9% vs. 2.2%), while private consumption growth remained steady (2.6% vs. 2.6% in Q2). The decline in government spending came due to a decline in compensation of employees and social transfers in kind. On the external front, exports grew 6.9% (vs. 11.2% in Q2), outpacing imports, which rose 4.6% (vs. 10.8%), contributing positively to GDP. On the production side, growth slowed in both the agricultural sector (1.9% vs 6.4%) and the non-agricultural sector (1.2% vs 2.5%), with industry falling 1% (vs 0.8% in Q2), while services moderated (2.3% vs 3.4%). For the first three quarters of 2025, the economy grew by 2.4%.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP expanded 1.2% yoy in Q3 2025, slowing from 2.8% growth in Q2 and falling short of market expectations of 1.6%. This marked the slowest growth since Q3 2021, when the economy recorded a contraction, driven by softer increases in fixed investment (1.1% vs 5.8% in Q2) and a decline in government spending (-3.9% vs 2.2%), while private consumption growth remained steady (2.6% vs 2.6% in Q2). The decline in government spending was mainly due to lower compensation of employees and reduced social transfers in kind. On the external front, exports grew 6.9% (vs 11.2% in Q2), outpacing imports, which rose 4.6% (vs 10.9%), contributing positively to GDP. The slowdown in export growth was partly due to the impact of newly imposed US tariffs. On the production side, growth slowed in both the agricultural sector (1.9% vs 6.4%) and the non-agricultural sector (1.2% vs. 2.5%). For the first three quarters of 2025, Thailand’s economy grew by 2.4%.
Published on 2025-11-17

Thailand Q3 GDP Annual Growth Weakest in 4 Years
Thailand’s GDP expanded 1.2% yoy in Q3 2025, slowing from 2.8% growth in Q2 and missing market expectations of 1.6%. This marked the slowest growth since Q3 2021, pressured by a slowdown in factory output, weaker foreign tourist arrivals, and concerns over the impact of rising U.S. tariffs Fixed investment growth eased to 1.1% (vs 5.8% in Q2), while government spending declined (-3.9% vs 2.2%), and private consumption growth remained steady at 2.6%. On the external front, exports grew 6.9% (vs 11.2% in Q2), outpacing imports, which rose 4.6% (vs 10.9%), contributing positively to GDP. The slowdown in export growth was partly due to the impact of newly imposed US tariffs. On the production side, growth slowed in both the agricultural sector (1.9% vs 6.4%) and the non-agricultural sector (1.2% vs. 2.5%). For the 1st three quarters of 2025, the economy grew by 2.4%. The government revised its 2025 GDP growth forecast to 2.0% from a range of 1.8% to 2.3% seen earlier.
Published on 2025-11-17