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 September of 2021.

GDP Growth Rate in Thailand is expected to be 1.30 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.

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Thailand GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.20 9.40 -9.40 1993 - 2021 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-11-16 02:30 AM Q3 6.5% -9.9% 3.8% 3.5%
2021-02-15 02:30 AM Q4 1.3% 6.2% 0.8% 1.1%
2021-05-17 02:30 AM Q1 0.2% 1.1% -0.8% -0.6%
2021-08-16 02:30 AM Q2 0.4% 0.2% -1.4% -1.2%
2021-11-16 02:30 AM Q3 0.4%


News Stream
Thailand Quarterly GDP Unexpectedly Expands
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%). Meantime, 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%).
2021-08-16
Thailand Economy Unexpectedly Grows 0.2% QoQ in Q1
Thailand's economy unexpectedly advanced 0.2% quarter-on-quarter in the three months to March 2021, easily beating market estimates of a 0.8 percent contraction and after a downwardly revised 1.1% growth in the prior period, amid easing COVID-19 restrictions. Growth was mainly supported by a rebound in fixed investment (3.9% vs -0.7% in Q4). Meantime, there were falls in both household consumption (-0.4% vs 1.4%) and government spending (-0.4% vs -1.7%). Also, net external demand contributing negatively to the GDP, as exports grew by 8% (vs -1.3% in Q4) while imports rose at a faster 12.9% (vs 8.3%). On the production side, activity grew much softer in the nonagricultural sector (0.3% vs 1.4%), with industrial output rising (2.2% vs 1.9%) while services activity falling (-0.5% vs 1.2%). Meanwhile, agricultural output shrank 1.7%, after declining 1.6% in Q4.
2021-05-17
Thailand Economy Grows 1.3% QoQ in Q4
Thailand's economy advanced 1.3% quarter-on-quarter in the three months to December 2020, compared with market expectations of a 0.8% growth and after a downwardly revised 6.2% expansion in the prior period, amid a resurgence in local COVID-19 cases that led to stricter social restrictions and a slowdown in business activity. Household consumption slowed sharply (1.6% vs 7.1% in Q3), while both government spending (-1.9% vs 1.8%) and fixed investment (-1.3% vs 5.8%) declined. In addition, net external demand contributed negatively, as exports fell (-1.4% vs 6.4%) while imports rose further (6.2% vs 4.0%). On the production side, agricultural activity contracted for the first time in three quarters (-1% vs 1.7%); while nonagricultural output rose much softer (1.6% vs 6.9%), with growth in both the industrial sector (1.8% vs 8.2%) and services (1.4% vs 6%) slowing.
2021-02-15
Thailand Q3 Quarterly GDP Beats Estimates
Thailand's economy advanced 6.5% quarter-on-quarter in the three months to September 2020, compared with market expectations of a 3.8% growth and after a record 9.9% slump in the prior quarter. This was the first quarterly expansion following a contraction in the prior three quarters, as the economy recovered from the COVID-19 shocks. Household consumption rebounded sharply (7.3% vs -8% in Q2), fixed investment rose for the first time in three quarters (6.3% vs -2%), and government spending grew further (2.3% vs 2.9%). In addition, net external demand contributed positively, as exports (6.8% vs -21.8%) expanded more than imports (2.1% vs -21.5%). On the production side, nonagricultural output rose for the first time in three quarters (7.1% vs -11.2%), due to a rebound in both the industrial sector (-8.6% vs -12.1%) and services (6.3% vs -10.8%); while agricultural activity slowed (2% vs 5.6%).
2020-11-16

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.