Thailand GDP Annual Growth Rate  1994-2018 | Data | Chart | Calendar

Thailand's gross domestic product grew by 4 percent year-on-year in the fourth quarter of 2017, following a 4.3 percent expansion in the previous period and below market consensus of 4.4 percent. Government spending and investment rose at softer paces while private consumption and exports grew firmly. GDP Annual Growth Rate in Thailand averaged 3.71 percent from 1994 until 2017, 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.

Thailand GDP Annual Growth Rate
width
height
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.




Thai Q4 GDP Growth Slows to 4%


Thailand's gross domestic product grew by 4 percent year-on-year in the fourth quarter of 2017, following a 4.3 percent expansion in the previous period and below market consensus of 4.4 percent. Government spending and investment rose at softer paces while private consumption and exports grew firmly.

On the expenditure side, government spending went up 0.2 percent, compared with 1.8 percent in Q3, as purchases from enterprises and abroad fell 5.7 percent, while social transfers in kind and compensation of employees increased 6.7 percent and 1 percent, respectively. In addition, gross fixed capital formation advanced 0.3 percent, slower than 1.2 percent in Q3. Public investment dropped 6 percent, as a result of lower public construction (-7.1 percent), while private investment grew 2.4 percent, mainly due to a 3.4 percent expansion of investment on machinery. Spending on private construction contracted 2.3 percent. 

On the other hand, private consumption rose 3.5 percent, compared to a 3.4 percent expansion in the prior quarter. The result was mainly due to a favourable growth of non-farming income, low level of inflation rate and high level of consumer’s confidence. Consumption expenditure on durable goods increased 21.8 percent, accelerating from a rise of 10.9 percent in the previous quarter in accordance with continual increasing in personal loans. Expenditure on semi-durable and non-durable goods rose 0.5 percent and 1.8 percent, respectively. Meanwhile, consumption expenditure of services kept rising. In addition, net external demand contributed positively to growth, as exports of goods and services went up 7.4 percent (vs 6.9 percent in Q3) and imports of goods and services rose 7.5 percent (vs 6.5 percent in Q3).
 
On the production side, the non-agricultural sector expanded 4.6 percent, faster than a 4 percent increase in the previous three-month period. Output grew mainly for: hotels and restaurants (15.3 percent vs 6.9 percent in Q3); wholesale and retail trade (6.9 percent vs to 6.4 percent); electricity, gas and water supply (3.4 percent vs 3.1 percent); transport, storage and communication (8.9 percent vs 7.4 percent); real estate, renting and business activities (5.6 percent vs 4.7 percent); financial intermediation (4.2 percent vs 4.6 percent); manufacturing (3 percent vs 4.2 percent); and mining and quarrying (0.6 percent vs -6.7 percent). On the other hand, a contraction was seen in construction (-5.3 percent vs -1.6 percent).
 
The agriculture sector shrank 1.3 percent, following a 9.7 percent expansion in the September quarter, due to a fall in both agriculture, hunting and forestry (-1.2 percent vs 9.8 percent in Q3) and fishing (-2.4 percent vs 8.6 percent).
 
Considering 2017 as a whole, the economy grew 3.9 percent, the highest annual gain since 2012. For 2018, the NESDB maintained its economic growth forecast at 3.6-4.6 percent.
 
 
 


NESDB l Chusnul Ch Manan | chusnul@tradingeconomics.com
2/19/2018 9:52:58 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-11-20 02:30 AM GDP Growth Rate YoY 4.3% 3.8% 3.8% 3.9%
2018-02-19 02:30 AM GDP Growth Rate YoY 4% 4.3% 4.4% 4.4%
2018-02-19 02:30 AM Full Year GDP Growth 3.9% 3.3% 4%
2018-05-15 02:30 AM GDP Growth Rate YoY 4% 4%
2018-08-21 02:30 AM GDP Growth Rate YoY 4%
2018-11-20 02:30 AM GDP Growth Rate YoY 3.80%


Thailand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 1.00 9.40 -6.30 percent [+]
GDP Annual Growth Rate 4.00 4.30 15.50 -12.50 percent [+]
GDP 406.84 399.23 420.53 2.76 USD Billion [+]
GDP Constant Prices 2580979.00 2569246.00 2580979.00 1043930.00 THB Million [+]
Gross National Product 4839.07 4693.46 4839.07 910.68 THB Billion [+]
Gross Fixed Capital Formation 620109.00 599017.00 724143.00 250204.00 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 119074.00 127447.00 136512.00 66643.00 THB Million [+]
GDP From Construction 70897.00 70713.00 103692.00 36619.00 THB Million [+]
GDP From Manufacturing 722532.00 690337.00 722532.00 269359.00 THB Million [+]
GDP From Mining 60256.00 57549.00 63557.00 20064.00 THB Million [+]
GDP From Public Administration 127207.00 126015.00 128359.00 41767.00 THB Million [+]
GDP From Transport 270521.00 264369.00 270521.00 64995.00 THB Million [+]
GDP From Utilities 84086.00 84644.00 84644.00 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 February of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
4.00 4.30 15.50 -12.50 1994 - 2017 percent Quarterly




GDP annual growth rate by Country
Country Last
Turkey 11.10 Sep/17
China 6.80 Dec/17
India 6.30 Sep/17
Indonesia 5.19 Dec/17
Spain 3.10 Dec/17
Canada 3.00 Sep/17
South Korea 3.00 Dec/17
Germany 2.90 Dec/17
Netherlands 2.90 Dec/17
Australia 2.80 Sep/17
Euro Area 2.70 Dec/17
United States 2.50 Dec/17
France 2.40 Dec/17
Mexico 1.80 Dec/17
Russia 1.80 Sep/17
Italy 1.60 Dec/17
Japan 1.50 Dec/17
United Kingdom 1.50 Dec/17
Brazil 1.40 Sep/17
Switzerland 1.20 Sep/17


Related

Latest