Thailand's economy expanded 1.1% qoq in Q1 of 2021, exceeding market consensus of a 0.9% growth but slowing from a 1.8% increase in Q4. The latest figure came amid an easing of COVID-19 curbs and tourism recovery as well as high inflation that dampened consumer spending. Household consumption moderated (3.2% vs 4% in Q4); while government spending fell for the first time in 5 quarters (-3% vs 4.6%), due to declines in both compensation of employees and spending of fixed capital and despite a sharp bounce back in social transfers. Meantime, there was a strong pickup in fixed investment (3.6% vs 0.1%), with net external demand contributing positively as exports grew by 3.5% (vs 3% in Q4) while imports rose at a softer 0.5% (vs -2.3%). On the production side, the non-agricultural sector eased (1% vs 2.3%), amid a sharp slowdown in industrial output (0.3% vs 5.5%) and despite an acceleration in services activity (1.5% vs 0.7%). Meantime, agricultural output rebounded (3.4% vs -2.1%). source: Nesdb, Thailand
GDP Growth Rate in Thailand averaged 0.83 percent from 1993 until 2022, reaching an all time high of 9.40 percent in the first quarter of 2012 and a record low of -9.40 percent in the second quarter of 2020. This page provides - Thailand GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Thailand GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.
GDP Growth Rate in Thailand is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Thailand GDP Growth Rate is projected to trend around 1.00 percent in 2023 and 1.20 percent in 2024, according to our econometric models.