Thailand's economy advanced 1.3% quarter-on-quarter in the three months to December 2020, compared with market expectations of a 0.8% growth and after a downwardly revised 6.2% expansion in the prior period, amid a resurgence in local COVID-19 cases that led to stricter social restrictions and a slowdown in business activity. Household consumption slowed sharply (1.6% vs 7.1% in Q3), while both government spending (-1.9% vs 1.8%) and fixed investment (-1.3% vs 5.8%) declined. In addition, net external demand contributed negatively, as exports fell (-1.4% vs 6.4%) while imports rose further (6.2% vs 4.0%). On the production side, agricultural activity contracted for the first time in three quarters (-1% vs 1.7%); while nonagricultural output rose much softer (1.6% vs 6.9%), with growth in both the industrial sector (1.8% vs 8.2%) and services (1.4% vs 6%) slowing. source: Nesdb, Thailand
GDP Growth Rate in Thailand averaged 0.85 percent from 1993 until 2020, 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 May of 2021.
GDP Growth Rate in Thailand is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Thailand to stand at 1.50 in 12 months time. In the long-term, the Thailand GDP Growth Rate is projected to trend around 1.50 percent in 2022, according to our econometric models.