Thailand's economy expanded 1.2% qoq in Q3 of 2022, beating market consensus of a 0.9% rise and following a 0.7% growth in Q2. The latest print was the fourth straight quarter of quarterly increase, amid resilient private consumption and robust fixed investment. Household consumption grew for the fourth quarter in a row (1.3% vs 1.7% in Q2) despite growing cost pressures, while fixed investment bounced back strongly (2.9% vs -1.9%). At the same time, government spending fell less (-1.4% vs -2.6%) amid a jump in social transfer. Net trade contributed negatively, however, with exports down for the first time in a year (-0.1% vs 4.6%) while imports rose for the third quarter (2.9% vs 5.9%). On the production side, non-agricultural sector picked up (1.8% vs 0.6%) due to a rebound in industrial output (0.4% vs -0.8%), and the fifth consecutive quarter of growth in services activity (1.3% vs 1.7%). By contrast, agricultural output shrank for the first time since Q4 of 2021 (1.3% vs 1.7%). source: Nesdb, Thailand
GDP Growth Rate in Thailand averaged 0.83 percent from 1993 until 2022, 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 February of 2023.
GDP Growth Rate in Thailand is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.