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

Thailand's gross domestic product grew by 4.8 percent year-on-year in the first quarter of 2018, following a 4 percent expansion in the previous period and beating market consensus of 4 percent. It was the strongest growth since the first quarter 2013, as government spending, investment, and private consumption rose at faster paces. GDP Annual Growth Rate in Thailand averaged 3.72 percent from 1994 until 2018, 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
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Thailand Q1 GDP Growth Strongest in 5 Years


Thailand's gross domestic product grew by 4.8 percent year-on-year in the first quarter of 2018, following a 4 percent expansion in the previous period and beating market consensus of 4 percent. It was the strongest growth since the first quarter 2013, as government spending, investment, and private consumption rose at faster paces.

On the expenditure side, government spending went up 1.9 percent, compared with 0.2 percent in Q4, as purchases from enterprises and abroad rose 4.9 percent, fixed capital went up 2.7 percent, and social transfers in kind and compensation of employees increased 1.3 percent and 2.1 percent, respectively. In addition, gross fixed capital formation advanced 3.4 percent, faster than 0.3 percent in Q4. Public investment increased 4 percent, as a result of  state enterprise investment (11.6 percent) and private investment grew 3.1 percent, mainly due to a 3.1 percent expansion of investment on machinery. In addition, spending on private construction expanded 3.4 percent.
 
Also, private consumption rose 3.6 percent, compared to a 3.4 percent expansion in the prior quarter, mainly due to services, non-durable and semi-durable goods, particulary food and non-alcoholic beverages. However, expenditure on durable goods slowed down, namely motor vehicles. Meanwhile, exports of goods and services went up 6 percent (vs 7.4 percent in Q4) while imports of goods and services rose 9 percent (vs 7.5 percent in Q4).
 
On the production side, agriculture jumped 6.5 percent, recovering from a 1.3 percent contraction in the December quarter, due to a rebound in both agriculture, hunting and forestry (7.1 percent vs -1.2 percent in Q4) and fishing (0.2 percent vs -2.4 percent). Meanwhile, the non-agricultural sector expanded 4.7 percent, the same as in the previous three-month period. Output grew mainly for: hotels and restaurants (12.8 percent vs 15.3 percent in Q4); wholesale and retail trade (7 percent vs to 6.9 percent); electricity, gas and water supply (2.2 percent vs 3.1 percent); transport, storage and communication (7.1 percent vs 8.8 percent); real estate, renting and business activities (4.5 percent vs 5.8 percent); financial intermediation (3.5 percent vs 3.6 percent); manufacturing (3.7 percent vs 3.4 percent); public administration and defence; education (1.7 percent vs 1.3 percent); health and social work (5 percent vs 3.8 percent), other community, social and personal services (4.7 percent vs 4.1 percent), and rebounded for construction (1.2 percent vs -5.3 percent). On the other hand, a contraction was seen in mining and quarrying (-0.8 percent vs 0.5 percent).

For 2018, the NESDB raises its economic growth forecast to 4.2-4.7 percent from 3.6-4.6 percent.


Nesdb, Thailand | Chusnul Ch Manan | chusnul@tradingeconomics.com
5/21/2018 11:20:20 AM



Calendar GMT Actual Previous Consensus TEForecast
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%
2018-05-21 02:30 AM GDP Growth Rate YoY 4.8% 4% 4% 4.1%
2018-08-21 02:30 AM GDP Growth Rate YoY 4.8% 4.5%
2018-11-20 02:30 AM GDP Growth Rate YoY 4.3%


Thailand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.00 0.50 9.40 -6.30 percent [+]
GDP Annual Growth Rate 4.80 4.00 15.50 -12.50 percent [+]
GDP 455.22 411.76 455.22 2.76 USD Billion [+]
GDP Constant Prices 2633183.00 2582171.00 2633183.00 1043930.00 THB Million [+]
Gross National Product 4839.07 4693.46 4839.07 910.68 THB Billion [+]
Gross Fixed Capital Formation 634226.00 617073.00 724143.00 258609.00 THB Million [+]
GDP per capita 6125.70 5910.50 6125.70 570.90 USD [+]
GDP per capita PPP 16277.70 15705.80 16277.70 6650.40 USD [+]
GDP From Agriculture 133786.00 118583.00 136392.00 66643.00 THB Million [+]
GDP From Construction 74177.00 71394.00 103692.00 36619.00 THB Million [+]
GDP From Manufacturing 719958.00 717785.00 719958.00 269359.00 THB Million [+]
GDP From Mining 59225.00 60284.00 63442.00 20064.00 THB Million [+]
GDP From Public Administration 127651.00 127312.00 128435.00 41767.00 THB Million [+]
GDP From Transport 273468.00 270353.00 273468.00 64995.00 THB Million [+]
GDP From Utilities 82888.00 83621.00 84522.00 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 July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
4.80 4.00 15.50 -12.50 1994 - 2018 percent Quarterly




GDP annual growth rate by Country
Country Last
India 7.70 Mar/18
Turkey 7.40 Mar/18
China 6.70 Jun/18
Indonesia 5.06 Mar/18
Australia 3.10 Mar/18
Spain 3.00 Mar/18
Netherlands 2.80 Mar/18
South Korea 2.80 Mar/18
United States 2.80 Mar/18
Euro Area 2.50 Mar/18
Canada 2.30 Mar/18
Germany 2.30 Mar/18
France 2.20 Mar/18
Switzerland 2.20 Mar/18
Italy 1.40 Mar/18
Mexico 1.30 Mar/18
Russia 1.30 Mar/18
Brazil 1.20 Mar/18
United Kingdom 1.20 Mar/18
Japan 1.10 Mar/18


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