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.

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Thailand GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-02-21 01:30 AM Q4 1.9% -0.2% 0.7% 0.4%
2022-05-17 01:30 AM Q1 2.2% 1.8% 2.1% 2.5%
2022-08-16 02:30 AM Q2 2.2%


Related Last Previous Unit Reference
GDP Growth Rate 1.10 1.80 percent Mar 2022
GDP Annual Growth Rate 2.20 1.80 percent Mar 2022
GDP Constant Prices 2776757.00 2728725.00 THB Million Mar 2022
Gross National Product 2834485.00 2793066.00 THB Billion Mar 2022
Gross Fixed Capital Formation 657514.00 624773.00 THB Million Mar 2022
Full Year GDP Growth 1.60 -6.20 percent Dec 2021
GDP From Utilities 75522.00 60175.00 THB Million Mar 2022
GDP From Transport 155817.00 149853.00 THB Million Mar 2022
GDP From Public Administration 130047.00 132741.00 THB Million Mar 2022
GDP From Mining 43499.00 45354.00 THB Million Mar 2022
GDP From Manufacturing 755348.00 756711.00 THB Million Mar 2022
GDP From Construction 74736.00 59707.00 THB Million Mar 2022
GDP From Agriculture 176435.00 201583.00 THB Million Mar 2022

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, defense and social security (4.5 percent of GDP). Agriculture also makes a significant contribution - around 13 percent of GDP.
Actual Previous Highest Lowest Dates Unit Frequency
2.20 1.80 15.50 -12.50 1994 - 2022 percent Quarterly

News Stream
Thailand Q1 GDP Annual Growth Beats Estimates
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.
2022-05-17
Thailand Q4 GDP Growth Beats Estimates
Thailand's gross domestic product advanced by 1.9% yoy in Q4 of 2021, recovering from a downwardly revised 0.2% drop in Q3, faster than market expectations of a 0.7% growth, amid easing COVID-19 lockdown restrictions. Private consumption rebounded, (0.3% vs -3.2% in Q3), while government spending grew faster (8.1% vs 1.5%) and net external demand contributed positively to GDP growth as exports rose by 17.7%, while imports grew at a softer 16.6%. In addition, fixed investment contracted less (-0.2% vs -0.4%). On the production side, output recovered mostly for manufacturing (3.8% vs -0.9%), electricity, gas, steam, and air conditioning supply (2.1% vs -2.4%), transportation & storage (3.2% vs -1.4%), while real estate activities rose more (1.3% vs 0.7%). Meantime, output of accommodation & food service activities shrank less (-4.9% vs -19.0%). For 2021 full year, the GDP grew 1.6%, rebounding sharply from a 6.2% fall in 2020. For 2022, the NESDB maintained its GDP outlook at 3.5%-4.5%.
2022-02-21
Thailand Q3 GDP Shrinks Less than Estimated
Thailand's gross domestic product shrank by 0.3% yoy in Q3 of 2021, reversing sharply from an upwardly revised 7.6% growth in Q2, better than market expectations of a 0.8% contraction, amid lockdown restrictions to contain the spread of the coronavirus Delta Variant. Both private consumption (-3.2% vs 4.8% in Q2) and fixed investment (-0.4% vs 7.6%) shrank, while net external demand contributed negatively to GDP growth as exports rose by 12.3% (27.7% in Q2), while imports grew at a faster (27.8% vs 30.3%). Meantime, government spending continued to grow (2.5% vs 1.0%). On the production side, output contracted mostly for accommodation & food service activities (-18.7% vs 14.6%), transportation & storage (-0.9 vs 11.2%), manufacturing (-1.4% vs 16.9%), mining and quarrying (-9.6% vs 4.9%). Considering the first nine months of the year, the economy grew 1.3%. For 2021, the NESDB revised its economic forecast to an expansion of 1.2% from an increase of 0.7% - 1.2% projected in August.
2021-11-15