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.

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Thailand GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-16 02:30 AM YoY Q2 7.5% -2.6% 6.4% 6.7%
2021-11-15 02:30 AM YoY Q3 -0.3% 7.6% -0.8% -1.1%
2022-02-15 02:30 AM Full Year GDP Growth 2022


Related Last Previous Unit Reference
GDP Growth Rate -1.10 0.40 percent Sep/21
GDP Annual Growth Rate -0.30 7.60 percent Sep/21
GDP Constant Prices 2436499.00 2526316.00 THB Million Sep/21
Gross National Product 2507660.00 2590352.00 THB Billion Sep/21
Gross Fixed Capital Formation 633124.00 656910.00 THB Million Sep/21
GDP From Utilities 66986.00 77331.00 THB Million Sep/21
GDP From Transport 136829.00 126500.00 THB Million Sep/21
GDP From Public Administration 139246.00 133855.00 THB Million Sep/21
GDP From Mining 46763.00 51950.00 THB Million Sep/21
GDP From Manufacturing 646959.00 704248.00 THB Million Sep/21
GDP From Construction 80613.00 86918.00 THB Million Sep/21
GDP From Agriculture 2337023.00 2389401.00 THB Million Sep/21

News Stream
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
Thailand Q2 GDP Annual Growth Strongest Since 2012
Thailand's gross domestic product advanced by 7.5% yoy in Q2 of 2021, rebounding sharply from a 2.6% contraction in Q1, higher than market expectations of a 6.4% expansion. This was the first expansion in the economy in six quarters, and the strongest growth since Q4 2012, due to a low base effect last year when the pandemic first hit. Private consumption rebounded sharply (4.6% vs -0.3% in Q1), while net external demand contributed positively to GDP growth as both exports and imports grew 27.5% and 31.4%, respectively. Also, fixed investment expanded faster (8.1% vs 7.3%). Meanwhile, government spending continued to grow (1.1% vs 2.1%). On the production side, output expanded mostly for accommodation & food service activities (13.2% vs -35.5%), transportation & storage (11.6 vs -17.7%), manufacturing (16.8% vs 1.0%).For 2021, the NESDB revised its economic forecast to an expansion of 0.7%-1.2% from an increase of 1.5% - 2.5% projected in May.
2021-08-16
Thailand Economy Shrinks 2.6% in Q1
Thailand's gross domestic product shrank by 2.6% yoy in Q1 of 2021, following a 4.2% contraction in Q4, better than market expectations of a 3.3% fall. This was the 5th straight quarter of contraction in the GDP, but the smallest decline since the Q1, as an improvement in both global demand and domestic activity. Private consumption dropped (-0.5% vs 0.9% in Q4 2020), while net external demand contributed negatively to GDP growth as exports fell 10.5%, while imports rose 1.7%. At the same time, fixed investment rebounded sharply (7.3% vs -2.5%), while government spending continued to grow (2.1% vs 2.2%). On the production side, output contracted mostly for accommodation & food service activities (-35.0% vs -35.2%), transportation & storage (-17.7 vs -21.1%). For 2021, the NESDB revised its economic forecast to an expansion of 1.5%-2.5% from an increase of 2.5%-3.5% projected in February.
2021-05-17

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.