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. source: Nesdb, Thailand
GDP Annual Growth Rate in Thailand averaged 3.27 percent from 1994 until 2021, 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 January of 2022.
GDP Annual Growth Rate in Thailand is expected to be 2.50 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 3.50 percent in 2022 and 4.00 percent in 2023, according to our econometric models.