Thailand's gross domestic product grew by 2.4 percent year-on-year in the third quarter of 2019, following a 2.3 percent expansion in the previous period but below market consensus of 2.6 percent. Government spending and fixed investment rose faster, and net external contributed positively to GDP growth. Meanwhile, private consumption growth eased for the third consecutive time.

GDP Annual Growth Rate in Thailand averaged 3.70 percent from 1994 until 2019, 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. source: Nesdb, Thailand

GDP Annual Growth Rate in Thailand is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Thailand to stand at 3.10 in 12 months time. In the long-term, the Thailand GDP Annual Growth Rate is projected to trend around 3.50 percent in 2020, according to our econometric models.

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Thailand GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.40 2.30 15.50 -12.50 1994 - 2019 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-02-18 02:30 AM GDP Growth Rate YoY Q4 3.7% 3.2% 3.6% 3.8%
2019-05-21 02:30 AM GDP Growth Rate YoY Q1 2.8% 3.6% 3% 3.7%
2019-08-19 02:30 AM GDP Growth Rate YoY Q2 2.3% 2.8% 2.4% 2.5%
2019-11-18 02:30 AM GDP Growth Rate YoY Q3 2.4% 2.3% 2.6% 2.5%
2020-02-17 02:30 AM Full Year GDP Growth 2019 2.8%


News Stream
2019-08-19
Thailand GDP Annual Growth Weakest in 5 Years
Thailand's GDP grew by 2.3 percent year-on-year in the second quarter of 2019, following a 2.8 percent expansion in the previous period and below market consensus of 2.4 percent. It was the weakest GDP growth rate since the third quarter 2014 mostly due to decline in exports and as private consumption, government spending, and investment rose at a softer pace.

2019-05-21
Thailand Q1 GDP Annual Growth Weakest in Over 4 Years
Thailand's gross domestic product grew by 2.8 percent year-on-year in the first quarter of 2019, following a downwardly revised 3.6 percent expansion in the previous period and below market consensus of 3.0 percent. It was the weakest GDP growth rate since the fourth quarter 2014, as both private consumption and investment rose softer, and net external contributed negatively to GDP growth. For 2019, the NESDB revised its economic forecast to 3.3-3.8 percent from 3.5-4.5 percent in February.

2019-02-18
Thailand Q4 GDP Annual Growth Above Expectations
Thailand's gross domestic product grew by 3.7 percent year-on-year in the fourth quarter of 2018, following a downwardly revised 3.2 percent expansion in the previous period and slightly above market consensus of 3.6 percent. Both private consumption and investment rose faster, while government spending slowed and net external contributed negatively to GDP growth. For 2018 as a whole, the economy expanded 4.1 percent, compared to an upwardly revised 4.0 percent expansion in 2017, and marking the fastest advance since 2012.


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.

Thailand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.10 0.40 9.40 -6.30 percent [+]
GDP Annual Growth Rate 2.40 2.30 15.50 -12.50 percent [+]
GDP 504.99 455.28 504.99 2.76 USD Billion [+]
GDP Constant Prices 2730085.00 2727028.00 2730085.00 1043940.00 THB Million [+]
Gross National Product 2669126.00 2729568.00 2862899.00 1042725.00 THB Billion [+]
Gross Fixed Capital Formation 657693.00 648147.00 713853.00 258609.00 THB Million [+]
GDP per capita 6361.60 6128.70 6361.60 570.90 USD [+]
GDP per capita PPP 16904.70 16285.60 16904.70 6653.30 USD [+]
GDP From Agriculture 122574.00 159957.00 182356.00 68261.00 THB Million [+]
GDP From Construction 74689.00 74313.00 103693.00 36619.00 THB Million [+]
GDP From Manufacturing 712058.00 718654.00 734841.00 267937.00 THB Million [+]
GDP From Mining 62219.00 61887.00 63806.00 20063.00 THB Million [+]
GDP From Public Administration 129302.00 130268.00 130818.00 41767.00 THB Million [+]
GDP From Transport 182985.00 183201.00 183201.00 57373.00 THB Million [+]
GDP From Utilities 92108.00 90500.00 92108.00 22477.00 THB Million [+]