Thailand GDP Growth Rate 1993-2014 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Thailand expanded 1.1 percent in the third quarter of 2014 over the previous quarter. GDP Growth Rate in Thailand averaged 0.93 Percent from 1993 until 2014, reaching an all time high of 11.40 Percent in the first quarter of 2012 and a record low of -11.10 Percent in the fourth quarter of 2011. GDP Growth Rate in Thailand is reported by the Nesdb, Thailand.


Thailand GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.10 1.10 11.40 -11.10 1993 - 2014 Percent Quarterly
From 2000 to 2011, Thai economy grew at an average of 1.1 percent quarter-on-quarter, boosted by industrial and agricultural exports and to lesser extend by domestic consumption. Yet, as exports have been weakening throughout 2012 and 2013 due to several external economic shocks, domestic and public consumption has become the main source of expansion. This page provides - Thailand GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Thailand GDP Growth Rate - was last refreshed on Friday, November 21, 2014.

Thai GDP Growth Disappoints in Q3

The Thai economy advanced 1.1 percent on a quarter-on-quarter seasonally adjusted basis in the three months to September, the same rate as in the previous quarter, but below market expectations.

Year-on-year, the GDP advanced 0.6 percent from July to September, slightly up from 0.4 percent in the previous period. While private consumption and investment improved; exports, which make up about 70% of the country's economy, declined.

The Office of the National Economic and Social Development Board said the economy grew a meager 0.2 percent in the first nine months of 2014. Private consumption and exports contracted by 0.2 percent each; total investment shrank by 4.5 percent, with a 7.8 percent contraction in public investment and a 3.6 percent fall in private investment. 

Slow economy has forced the Planning agency NESDB to cut growth forecasts for the fourth time this year. It expects the GDP to expand by 1 percent, as compared to 1.5-2 percent  target in the previous forecast. Private consumption is expected to grow 0.7 percent and investment to contract 1.9 percent. The headline inflation is likely to remain subdue at 2.1 percent while the current account tends to record a surplus of 2.9 percent of GDP. 

NESDB | Joana Taborda |
11/17/2014 10:12:39 PM

Recent Releases

Thai GDP Expands 0.9% QoQ in Q2
Thailand’s economy advanced a seasonally adjusted 0.9 percent on quarter in the April to June period, following a revised 1.9 percent contraction in the previous three months, as political stability returned to the country. Published on 2014-08-18

Thai GDP Contracts 2.1% QoQ in Q1
Thailand's economy shrank a bigger-than-expected 2.1 percent in the first quarter of 2014, down from a revised 0.1 percent expansion in the previous three months. It is the first on-quarter contraction in a year, as exports remained weak and domestic consumption was hurt by months of political turmoil. Published on 2014-05-19

Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-05-19 03:30 AM
GDP Growth Rate QoQ  Q1 2014
-2.1% 0.1% (R) -1.35% -0.87%
2014-08-18 03:30 AM
GDP Growth Rate QoQ  Q2 2014
0.9% -1.9% (R) 0.9% 0.5%
2014-11-17 02:30 AM
GDP Growth Rate QoQ  Q3 2014
1.1% 1.1% 1.8% 1.43%

Thailand GDP Last Previous Highest Lowest Unit
GDP 387.25 365.97 387.25 2.76 USD Billion [+]
GDP Growth Rate 1.10 1.10 11.40 -11.10 Percent [+]
GDP Annual Growth Rate 0.60 0.40 19.10 -13.90 Percent [+]
GDP Constant Prices 1271530.00 1257798.00 1271530.00 590509.00 THB Million [+]
Gross National Product 4693.46 4718.93 4718.93 910.68 THB Billion [+]
GDP per capita 3437.84 3389.58 3437.84 358.92 USD [+]
Gross Fixed Capital Formation 273910.00 263978.00 346459.00 18375.42 THB Million [+]
GDP per capita PPP 13931.81 13736.22 13931.81 6368.78 USD [+]