Thailand's gross domestic product advanced by 7.5% yoy in Q2 of 2021, rebounding sharply from a 2.6% contraction in Q1, higher than market expectations of a 6.4% expansion. This was the first expansion in the economy in six quarters, and the strongest growth since Q4 2012, due to a low base effect last year when the pandemic first hit. Private consumption rebounded sharply (4.6% vs -0.3% in Q1), while net external demand contributed positively to GDP growth as both exports and imports grew 27.5% and 31.4%, respectively. Also, fixed investment expanded faster (8.1% vs 7.3%). Meanwhile, government spending continued to grow (1.1% vs 2.1%). On the production side, output expanded mostly for accommodation & food service activities (13.2% vs -35.5%), transportation & storage (11.6 vs -17.7%), manufacturing (16.8% vs 1.0%).For 2021, the NESDB revised its economic forecast to an expansion of 0.7%-1.2% from an increase of 1.5% - 2.5% projected in May. source: Nesdb, Thailand
GDP Annual Growth Rate in Thailand averaged 3.30 percent from 1994 until 2021, reaching an all time high of 15.50 percent in the fourth quarter of 2012 and a record low of -12.50 percent in the second quarter of 1998. This page provides - Thailand GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Thailand GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.
GDP Annual Growth Rate in Thailand is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Thailand GDP Annual Growth Rate is projected to trend around 4.50 percent in 2022 and 4.00 percent in 2023, according to our econometric models.