Thai GDP Expands 1.3% QoQ in Q3

In the third quarter of 2013, Thailand’s GDP recorded the first expansion in three quarters and advanced 1.3 percent over the previous three-month period, as a surge in the manufacturing sector was enough to offset a drop in agriculture and construction.

On the expenditure side, household consumption dropped for the third straight quarter by 1.3 percent qoq, while government expenditure slowed to 1.9 percent, after accelerating to 9.3 percent in the previous three-month period.

Investment fell sharply by 7.7 percent qoq, after increasing 4.3 percent in the June quarter.

Exports surged 2.3 percent and imports went down by 4.7 percent.

On the production side, while construction dropped for the second consecutive quarter by 3.7 percent, agriculture shrank by 1.2 percent and services eased to 1.1 percent. In contrast, manufacturing production accelerated to a seasonally adjusted 2.4 percent growth rate, after contracting in the previous two quarters. 

Year-on-year, the Q3 GDP expanded 2.7 percent, down from 2.9 percent in the June quarter, hurt by a drop in household consumption and investment.

Thai GDP Expands 1.3% QoQ in Q3

Joana Taborda |
11/18/2013 11:17:41 AM