Thailand GDP Annual Growth Rate  1994-2017 | Data | Chart | Calendar

The Thailand's economy advanced 4.30 percent year-on-year in the September quarter of 2017, compared to an upwardly revised 3.8 percent growth in the previous period and beating market consensus of a 3.8 percent growth. It was the strongest expansion since the first quarter 2013, boosted by faster rises in private consumption, government spending, investment and exports. GDP Annual Growth Rate in Thailand averaged 3.69 percent from 1994 until 2017, reaching an all time high of 15.40 percent in the fourth quarter of 2012 and a record low of -12.50 percent in the second quarter of 1998.

Thailand GDP Annual Growth Rate
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Thailand Q3 GDP Growth Strongest in 4-1/2 Years


Thailand's GDP advanced 4.3 percent year-on-year in the September quarter of 2017, compared to an upwardly revised 3.8 percent growth in the previous period and beating market consensus of a 3.8 percent growth. It was the strongest expansion since the first quarter 2013, boosted by faster rises in private consumption, government spending, investment and exports.

In the three months to September, private consumption rose 3.1 percent, slightly faster than a 3.0 percent in the prior quarter. The result was mainly due to a favorable growth of non-farming income and personal loan as well as low level of inlation and interest rate. This was offset by  deceleration in farming income, due to fall in major corps prices.
 
Government spending grew 2.8 percent, after a 2.6 percent rise in the September quarter. This acceleration was mainly driven by marked increases in disbursement from construction of water management system, water resources, and urgent road transport system project.
 
Gross fixed capital formation went up by 1.2 percent, much stronger than a 0.4 percent growth in Q2. Public investment decreased by 2.6 percent, improving from a 7 percent fall in Q2. On the contrary, private investment rose (2.9 percent from 3.2 percent in Q2), due to expansions in  machinery and equipment (4.3 percent from 3.2 percent).
 
Exports of goods and services went up by 7.4 percent, accelerating from a 6 percent increase in the first quarter. Imports of goods and services rose 6.7 percent (from 8.2 percent in Q2).
 
On the production side, the agriculture sector rose 9.9 percent, slowing from a 16.1 percent expansion in the September quarter. The rise was supported by agriculture, hunting and forestry (10.1 percent from 17.4percent in Q2) and fishing (2.4 percent from 2.4 percent). The non-agricultural sector expanded by 3.8 percent, compared to a 2.8 percent increase previously. An increase was seen for: manufacturing (4.3 percent from 1.1 percent in Q2); wholesale and retail trade (6.4 percent compared to 6 percent in Q2), while electricity, gas & water supply rebounded (3.5 percent from -1.3 percent); hotels and restaurants (6.7 percent compared to 7.5 percent); transportation (8.1 percent compared to 8.7 percent); financial intermediation (4.8 percent compared to 5.1 percent); real estate (4.2 percent compared to 4.4 percent); health and social work (3.6 percent from 3.8 percent) and other community, social and personal services activities (4.9 percent from 5.9 percent). On the other hand, a decline was seen for: construction (-1.7 percent from -6.2 percent) and mining & quarrying (-8.4 percent from -6.9 percent), private household with employed persons (-7.2 percent from -2.8 percent), and education (-0.3 percent compared to 0.4 percent).
 
The NESD predicted 2017 GDP growth at 3.9 percent, compared with a 3.5-4.0 percent range seen earlier, and it revised up the export outlook to a 8.6 percent increase from 5.7 percent. In 2016, the economy grew by 3.2 percent. For 2018, it forecasts GDP growth of 3.6-4.6 percent, with exports seen up 5 percent.
 
On a quarter-on-quarter seasonally adjusted basis, the economy expanded 1 percent in Q3 of 2017, slower than an upwardly revised 1.4 percent expansion in the prior quarter while markets estimated a 0.75 percent growth. It was the weakest quarterly growth since the fourth quarter 2016.
 
 

Nesdb, Thailand | Chusnul Ch Manan | chusnul@tradingeconomics.com
11/20/2017 12:31:59 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-05-15 02:30 AM GDP Growth Rate YoY 3.3% 3.0% 3.2% 3.3%
2017-08-21 02:30 AM GDP Growth Rate YoY 3.7% 3.3% 3.2% 3.2%
2017-11-20 02:30 AM GDP Growth Rate YoY 4.3% 3.8% 3.8% 3.9%
2018-02-20 02:30 AM GDP Growth Rate YoY 4.3% 4.4%
2018-02-20 03:00 AM Full Year GDP Growth
2018-05-15 02:30 AM GDP Growth Rate YoY


Thailand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.00 1.40 9.60 -6.30 percent [+]
GDP Annual Growth Rate 4.30 3.80 15.40 -12.50 percent [+]
GDP 406.84 399.23 420.53 2.76 USD Billion [+]
GDP Constant Prices 2566342.00 2541404.00 2566342.00 1043930.00 THB Million [+]
Gross National Product 4839.07 4693.46 4839.07 910.68 THB Billion [+]
Gross Fixed Capital Formation 598151.00 603016.00 713853.00 258609.00 THB Million [+]
GDP per capita 5901.40 5733.90 5901.40 570.90 USD [+]
GDP per capita PPP 15681.80 15236.70 15681.80 6650.40 USD [+]
GDP From Agriculture 133680.00 141772.00 141772.00 66849.00 THB Million [+]
GDP From Construction 67881.00 69247.00 103692.00 36619.00 THB Million [+]
GDP From Manufacturing 710970.00 690303.00 710970.00 269359.00 THB Million [+]
GDP From Mining 55620.00 56643.00 62653.00 20064.00 THB Million [+]
GDP From Public Administration 125645.00 128036.00 128759.00 41767.00 THB Million [+]
GDP From Transport 271149.00 266854.00 271149.00 64995.00 THB Million [+]
GDP From Utilities 84731.00 81606.00 84731.00 22202.00 THB Million [+]


Thailand GDP Annual 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, defence and social security (4.5 percent of GDP). Agriculture also makes a significant contribution - around 13 percent of GDP. This page provides - Thailand GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Thailand GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
4.30 3.80 15.40 -12.50 1994 - 2017 percent Quarterly




GDP annual growth rate by Country
Country Last
Turkey 11.10 Sep/17
China 6.80 Sep/17
India 6.30 Sep/17
Indonesia 5.06 Sep/17
South Korea 3.80 Sep/17
Spain 3.10 Sep/17
Canada 3.00 Sep/17
Netherlands 3.00 Sep/17
Australia 2.80 Sep/17
Germany 2.80 Sep/17
Euro Area 2.60 Sep/17
United States 2.30 Sep/17
France 2.20 Sep/17
Japan 2.10 Sep/17
Russia 1.80 Sep/17
Italy 1.70 Sep/17
Mexico 1.50 Sep/17
United Kingdom 1.50 Sep/17
Brazil 1.40 Sep/17
Switzerland 1.20 Sep/17