This page has economic forecasts for Thailand including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Thailand economy.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.00 1.5 1.3 1 0.9 0.8 percent
Unemployment Rate 1.00 1 1 1 1.1 1.1 percent
Inflation Rate 1.23 1.1 0.6 0.8 1.2 2.2 percent
Interest Rate 1.50 1.75 1.75 2 2 2.25 percent
Balance of Trade 490.00 970 2250 1290 793 690 USD Million
Government Debt to GDP 41.80 43 45 45 45 46 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 32.83
 32.49 32.61 32.73 32.85 33.34
Stock Market 1084.54
points		 1150 1138 1127 1115 1072
Government Bond 10Y 2.72
percent		 2.71 2.74 2.77 2.8 2.92
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.00
percent		 1.5 1.3 1 0.9 0.8
GDP Annual Growth Rate 4.60
percent		 4.1 3.8 4.2 3.9 3
GDP 455.22
USD Billion		 475 494 494 494 510
GDP Constant Prices 2661705.00
THB Million		 2688184 2735551 2773497 2765511 2879582
Gross National Product 2623744.00
THB Billion		 2772130 2891683 2733941 2726070 2969506
Gross Fixed Capital Formation 628096.00
THB Million		 642087 657238 654476 652592 687803
GDP per capita 6125.70
USD		 6375 6445 6445 6445 6641
GDP per capita PPP 16277.70
USD		 16588 17012 17012 17012 16200
GDP From Agriculture 149944.00
THB Million		 124181 139400 156242 155792 133023
GDP From Construction 71914.00
THB Million		 74315 76511 74934 74719 79606
GDP From Manufacturing 720045.00
THB Million		 746656 747260 750287 748127 799818
GDP From Mining 58210.00
THB Million		 62711 61272 60655 60480 67176
GDP From Public Administration 126699.00
THB Million		 132543 132385 132020 131640 141980
GDP From Transport 279708.00
THB Million		 281900 284864 291456 290617 301971
GDP From Utilities 83200.00
THB Million		 87007 85938 86694 86445 93202
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 1.00
percent		 1 1 1 1.1 1.1
Employed Persons 37951.30
Thousand 		38900 38200 37900 38700 39500
Unemployed Persons 372.80
Thousand 		410 407 391 413 437
Job Vacancies 29033.00
 32000 35000 31000 29000 42000
Wages 14075.55
THB/Month		 13940 13680 13790 13940 14700
Wages in Manufacturing 12780.75
THB/Month		 13100 12700 12500 12900 13700
Minimum Wages 325.00
THB/Day		 325 334 334 334 345
Population 66.19
Million		 66.5 66.9 66.9 66.9 68
Productivity 115.37
Index Points		 125 126 115 112 131
Labour Costs 89.45
Index Points		 85 89 92 88 81
Youth Unemployment Rate 5.10
percent		 4.4 4.5 4.5 4.5 4.8
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 1.23
percent		 1.1 0.6 0.8 1.2 2.2
Inflation Rate Mom 0.06
percent		 0.4 0.1 -0.2 -0.3 0.1
Consumer Price Index CPI 102.65
Index Points		 102 102 103 104 106
Core Consumer Prices 102.29
Index Points		 102 102 103 103 104
Core Inflation Rate 0.75
percent		 0.7 0.7 0.8 0.8 1
GDP Deflator 154.02
Index Points		 153 148 152 158 158
Producer Prices 103.50
Index Points		 103 103 105 105 107
Export Prices 105.80
Index Points		 108 108 108 109 110
Import Prices 98.51
Index Points		 103 104 105 107 109
Food Inflation 0.40
percent		 0.7 0.5 1 1.4 2.8
Producer Prices Change 1.67
percent		 1.2 1.5 2.1 2 2.1
CPI Housing Utilities 100.32
Index Points		 101 101 101 102 104
CPI Transportation 104.65
Index Points		 103 102 104 106 106
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 1.50
percent		 1.75 1.75 2 2 2.25
Money Supply M0 1388931.00
THB Million		 1410000 1395000 1391000 1399000 1477000
Money Supply M1 1960.10
THB Billion		 2100 2070 2055 2090 2300
Money Supply M3 19519.17
THB Billion		 19750 19900 20200 20550 21700
Banks Balance Sheet 18595409.00
THB Million		 18950000 19070000 19100000 19140000 19700000
Foreign Exchange Reserves 201784.55
USD Million		 204300 203900 203300 202800 202300
Loans to Private Sector 4060599.00
THB Million		 4037000 4039000 4041000 4042000 4056000
Deposit Interest Rate 1.29
percent		 1.29 1.29 1.54 1.54 1.79
Interbank Rate 1.61
percent		 1.61 1.61 1.86 1.86 2.11
Central Bank Balance Sheet 7510147.00
THB Million		 7550000 7367246 7355272 7351518 7850000
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade 490.00
USD Million		 970 2250 1290 793 690
Exports 20699.82
USD Million		 18900 20850 20990 21400 22000
Imports 20212.62
USD Million		 17930 18600 19700 20607 21310
Current Account 2369.23
USD Million		 4200 4350 4390 4480 5000
Current Account to GDP 10.60
percent		 8.6 7.3 7.3 7.3 6.5
External Debt 154162.40
USD Million		 153100 132500 152800 153400 156000
Terms of Trade 107.40
Index Points		 105 104 103 102 101
Tourist Arrivals 2655560.00
 3270000 3300000 3250000 3190000 3330000
Gold Reserves 154.00
Tonnes		 154 154 154 154 154
Terrorism Index 6.61
 6.5 6.4 6.4 6.4 6.8
Remittances 11276.00
THB Billion		 12220 11900 12150 12275 14000
Crude Oil Production 213.00
BBL/D/1K		 245 244 239 236 250
Foreign Direct Investment 27125.54
THB Million		 18700 21300 34500 41000 24000
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 41.80
percent		 43 45 45 45 46
Government Budget -2.70
percent of GDP		 -2.8 -2.9 -2.9 -2.9 -2.9
Government Budget Value 54285.00
THB Million		 -3500 7800 10900 11300 35000
Government Spending 387102.00
THB Million		 409702 406166 403360 402199 438873
Government Revenues 292167.00
THB Million		 195000 211800 218100 208900 241000
Fiscal Expenditure 180627.00
THB Million		 198500 204000 207200 197600 206000
Military Expenditure 6075.70
USD Million		 6129 6151 6151 6151 6198
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Business Confidence 49.60
Index Points		 52.5 50.1 50.8 51.3 52
Industrial Production -2.60
percent		 2.9 3.1 3.5 3.2 3.1
Industrial Production Mom -1.20
percent		 -0.4 0.9 1.3 -0.1 0.6
Capacity Utilization 68.01
Index Points		 70 69.5 69.3 69 67.1
Changes in Inventories -12358.00
THB Million		 4200 9600 -10920 -2500 29400
Car Registrations 39771.00
 34700 33900 40200 40900 37200
Leading Economic Index 150.58
Index Points		 151 152 152 153 159
Internet Speed 15999.07
KBps		 16220 16350 16490 16600 17000
IP Addresses 2822892.00
IP		 2930000 2990000 3120000 3180000 3350000
Total Vehicle Sales 88706.00
 82200 85400 86600 87300 91000
Manufacturing Pmi 48.90
 50.2 50.4 50.5 50.7 51.1
Cement Production 3319.41
Thousands of Ton 		3250 3190 3450 3580 3800
Car Production 181237.00
 162000 167000 181000 189000 180000
Coincident Index 129.07
Index Points		 131 129 129 132 145
Competitiveness Index 67.53
Points		 68.03 68.03 68.03 68.03 70.53
Competitiveness Rank 38.00
 38 38 38 38 38
Corruption Index 37.00
Points		 37 37 37 37 37
Corruption Rank 96.00
 96 96 96 96 96
Ease of Doing Business 27.00
 24 22 22 22 19
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence 81.30
Index Points		 83.1 83.4 83.6 83.7 82.9
Retail Sales YoY 17.80
percent		 8.3 8.8 8.9 9.3 5.1
Consumer Spending 1351827.00
THB Million		 1363196 1378444 1408604 1404548 1460255
Disposable Personal Income 7931560.00
THB Million		 8170000 8330000 8330000 8330000 8590000
Personal Savings 10.20
percent		 8.9 8.4 8.4 8.4 8.7
Bank Lending Rate 7.00
percent		 7 7 7.25 7.25 7.5
Personal Spending -0.20
percent		 0.9 1.2 0.6 0.8 1.3
Consumer Credit 4358230.00
THB Million		 4330000 4370000 4400000 4450000 4610000
Gasoline Prices 1.13
USD/Liter		 1.11 1.09 1.07 1.05 0.97
Households Debt To GDP 68.20
percent of GDP		 68.5 68.2 67.8 67.6 76.8
HOUSING Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Housing Index 139.80
Index points		 139 138 139 139 140
Housing Starts 8981.00
units		 8100 8220 8400 8310 8500
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 20.00
percent		 20 20 20 20 20
Personal Income Tax Rate 35.00
percent		 35 35 35 35 35
Sales Tax Rate 7.00
percent		 7 7 7 7 7
Social Security Rate 10.00
percent		 10 10 10 10 10
Social Security Rate For Companies 5.00
percent		 5 5 5 5 5
Social Security Rate For Employees 5.00
percent		 5 5 5 5 5
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Temperature 27.55
celsius		 24.26 24.95 26.64 26.64 26.62



Thailand - Economic Forecasts - 2018-2020 Outlook