Thailand's gross domestic product advanced 2.2% yoy in Q1 of 2022, faster than a downwardly revised 1.8% gain in Q4 and surpassing market expectations of a 2.1% growth, amid an easing COVID-19 curbs and robust exports. Private consumption picked up (3.9% vs 0.4% in Q4) amid a rebound in fixed investment (0.8% vs -0.2%). Also, net external demand contributed positively as exports rose 12.0%, while imports grew at a softer 6.7%. Meantime, government spending eased (4.6% vs 8.1%), due to a slowdown in spending on fixed capital and a fall in compensation of employees . On the production side, output continued to grow for manufacturing (1.9% vs 3.8%), utilities (2.0% vs 2.1%), and transportation (4.6% vs 3.2%), while activity bounced back for both accommodation & food service (34.1% vs -4.9%), and agriculture, forestry (4.1% vs -0.6%). The NESDB cut its GDP outlook for this year to 2.5% - 3.5% from 3.5%-4.5% forecast made in November, on rising prices and the impact of the war in Ukraine. source: Nesdb, Thailand
GDP Annual Growth Rate in Thailand averaged 3.25 percent from 1994 until 2022, 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 May of 2022.
GDP Annual Growth Rate in Thailand is expected to be 5.00 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 4.10 percent in 2023 and 4.00 percent in 2024, according to our econometric models.