Thailand's economy unexpectedly showed no growth on quarter in the three months to September 2018, missing market consensus of a 0.6 percent expansion and after a downwardly revised 0.9 percent growth in the previous quarter. It was the weakest quarterly reading since a contraction in the March quarter 2014, due to a marked slowdown in private consumption and a further drop in government spending while net exports contributed negatively to the GDP. GDP Growth Rate in Thailand averaged 0.94 percent from 1993 until 2018, reaching an all time high of 9.40 percent in the first quarter of 2012 and a record low of -6.30 percent in the fourth quarter of 2011.

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. Looking forward, we estimate GDP Growth Rate in Thailand to stand at 0.90 in 12 months time. In the long-term, the Thailand GDP Growth Rate is projected to trend around 0.80 percent in 2020, according to our econometric models.

Thailand GDP Growth Rate
width
height
Forecast Data Chart
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.


Calendar GMT Actual Previous Consensus TEForecast
2018-02-19 02:30 AM GDP Growth Rate QoQ 0.5% 1% 0.7% 0.8%
2018-05-21 02:30 AM GDP Growth Rate QoQ 2.0% 0.5% 1.05% 1%
2018-08-20 02:30 AM GDP Growth Rate QoQ 1.0% 2.1% 1% 1.3%
2018-11-19 02:30 AM GDP Growth Rate QoQ 0.0% 0.9% 0.6% 0.8%
2019-02-19 02:30 AM GDP Growth Rate QoQ 1.50%
2019-05-21 02:30 AM GDP Growth Rate QoQ 1.30%
2019-08-20 02:30 AM GDP Growth Rate QoQ 1%



Thailand Quarterly GDP Stagnates in Q3



Thailand's economy unexpectedly showed no growth on quarter in the three months to September 2018, missing market consensus of a 0.6 percent expansion and after a downwardly revised 0.9 percent growth in the previous quarter. It was the weakest quarterly reading since a contraction in the March quarter 2014, due to a marked slowdown in private consumption and a further drop in government spending while net exports contributed negatively to the GDP.

On the expenditure side, private consumption increased at a softer 1 percent, compared to a 1.8 percent advance in the second quarter. At the same time, gross fixed capital formation rose by 0.8 percent, following a 0.7 percent fall in the June quarter. Meanwhile, government spending shrank 0.6 percent, after a 0.5 percent drop in the June quarter and marking the third straight quarter of decline. Also, net external demand contributed negatively, as exports of goods and services declined 4 percent, after a 2 percent in rise the preceding quarter, while imports rose by 3.2 percent (vs 1.7 percent .

On the production side, the agriculture sector contracted 8 percent, following a 9.6 percent increase in the prior three month-period. Also, financial intermediation shrank 1 percent, compared to a 3 percent growth in the prior quarter. On the other hand, output growth accelerated for: manufacturing (0.6 percent vs 0.2 percent in Q2); and wholesale and retail trade; repair of motor (1.9 percent vs 1.6 percent).

Year-on-year, the economy grew an annual 3.3 percent in the September quarter, also missing estimates of  a 4.2 percent expansion and after a 4.6 percent growth in the June quarter. It marked the slowest pace of expansion since the December quarter 2016.  

For 2018, Southeast Asia's second biggest economy is expected to advance 4.2 percent, compared to an earlier projection of 4.2 to 4.7 percent. Exports for the year is estimated to increase by 7.2 percent, lower than a previous forecasts of 10 percent.


NESDB l Rida | rida@tradingeconomics.com
11/19/2018 3:50:42 AM



Thailand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.00 0.90 9.40 -6.30 percent [+]
GDP Annual Growth Rate 3.30 4.60 15.50 -12.50 percent [+]
GDP 455.22 411.76 455.22 2.76 USD Billion [+]
GDP Constant Prices 2658895.00 2659346.00 2659346.00 1043930.00 THB Million [+]
Gross National Product 2584939.00 2623744.00 2785822.00 1055611.00 THB Billion [+]
Gross Fixed Capital Formation 631535.00 628096.00 724143.00 258609.00 THB Million [+]
GDP per capita 6125.70 5910.50 6125.70 570.90 USD [+]
GDP per capita PPP 16277.70 15705.80 16277.70 6650.40 USD [+]
GDP From Agriculture 135132.00 148739.00 148739.00 66643.00 THB Million [+]
GDP From Construction 73948.00 71977.00 103692.00 36619.00 THB Million [+]
GDP From Manufacturing 726029.00 721715.00 726029.00 269359.00 THB Million [+]
GDP From Mining 56321.00 58667.00 63349.00 20064.00 THB Million [+]
GDP From Public Administration 125425.00 126485.00 128439.00 41767.00 THB Million [+]
GDP From Transport 281644.00 278938.00 281644.00 64995.00 THB Million [+]
GDP From Utilities 85020.00 83624.00 85020.00 22202.00 THB Million [+]


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. This page provides - Thailand GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Thailand GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.90 9.40 -6.30 1993 - 2018 percent Quarterly




Country Last Previous
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
Singapore 3.00 Sep/18
South Africa 2.20 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Russia 0.90 Jun/18
Brazil 0.80 Sep/18
Mexico 0.80 Sep/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
Canada 0.50 Sep/18
France 0.40 Sep/18
Australia 0.30 Sep/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Saudi Arabia -0.05 Mar/18
Italy -0.10 Sep/18
Germany -0.20 Sep/18
Switzerland -0.20 Sep/18
Japan -0.60 Sep/18
Turkey -1.10 Sep/18
Argentina -4.00 Jun/18


Related

Latest