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.