Thailand GDP Growth Rate

The Gross Domestic Product (GDP) in Thailand expanded 0.60 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Thailand is reported by the Nesdb, Thailand. GDP Growth Rate in Thailand averaged 0.97 Percent from 1993 until 2013, 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. 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. 2014-04-17

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.60 1.30 11.40 -11.10 -0.87 | 2014/03 1993 - 2013 Percent Quarterly

TO

Thailand GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-05-20 03:30 AM Thailand
GDP Growth Rate QoQ
Q1 2013 -2.2% 2.8% (R)
2013-08-19 03:30 AM Thailand
GDP Growth Rate QoQ
Q2 2013 -0.3% -1.7% (R) 0.4% 0.37%
2013-11-18 02:30 AM Thailand
GDP Growth Rate QoQ
Q3 2013 1.3% 0.0% (R) 1.7% 1.32%
2014-02-17 02:30 AM Thailand
GDP Growth Rate QoQ
Q4 2013 0.6% 1.3% 0.6% 0.21%
2014-05-19 03:30 AM Thailand
GDP GROWTH RATE QOQ
Q1 2014 0.6% -0.87%
2014-08-18 03:30 AM Thailand
GDP GROWTH RATE QOQ
Q2 2014 -0.56%
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GDP Last Previous Highest Lowest Forecast Unit
GDP Constant Prices 1276071.00 2013-11-15 1268443.00 1276071.00 590508.00 1273248.72 2014-03-31 THB Million [+]
Gross Fixed Capital Formation 259281.00 2013-11-15 268699.00 346459.00 18375.42 259734.54 2014-03-31 THB Million [+]
Gross National Product 4727.32 2013-06-30 4718.93 4727.32 910.68 4737.17 2013-12-31 THB Billion [+]
GDP per capita 3350.78 2012-12-31 3158.07 3350.78 358.92 3472.81 2013-12-31 USD [+]
GDP per capita PPP 8458.94 2012-12-31 7972.44 8458.94 2225.92 8727.30 2013-12-31 USD [+]
GDP Growth Rate 0.60 2013-12-31 1.30 11.40 -11.10 -0.87 2014-03-31 Percent [+]
GDP Annual Growth Rate 0.60 2013-12-31 2.70 19.10 -13.90 0.59 2014-03-31 Percent [+]
GDP 365.56 2012-12-31 345.65 365.56 2.76 387.45 2013-12-31 USD Billion [+]
[+]


Thai Economy Expands 0.6% QoQ in Q4

In the fourth quarter of 2013, the Thai economy advanced 0.6 percent over the previous quarter, far below the 2.7 percent growth rate recorded in the previous three-month period, confirming the impact of the protests on the economy.

The slowdown was due to political unrest, which hurt local demand, investment and tourism.

In November of 2013, several anti-government protests began in Bangkok, forcing many ministries and state agencies to close. The election held on February 2nd was disrupted, failing to end the crisis and a caretaker administration proceeds, with only limited spending and borrowing powers.

Latest figures released by the Bank of Thailand in January 2014 showed that in the last month of 2013, the private investment index contracted 8.1 percent (yoy), given that most businesses had already accelerated their investment earlier, while others decided to postpone investment amid current economic and political uncertainties. 

Households remained cautious in the same period. While the private consumption index fell 0.2 percent (yoy), mainly due to lower spending on automobiles, delayed payments to rice farmers also weight on consumption. 

In December of 2013, the tourism sector expanded at a slower pace after the enforcement of China’s new tourism law since October of 2013 and amid domestic political unrest. 

Compared with the same quarter of 2012, the economy advanced a meager 06 percent. In January, the Bank of Thailand cut its 2014 growth forecast to around 3 percent from 4 percent.

Joana Taborda | joana.taborda@tradingeconomics.com
2/17/2014 1:28:45 PM

RECENT RELEASES

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. Published on 2013-11-18

Thai Economy Contracts 0.3% QoQ in Q2
In the second quarter of 2013, Thai GDP shrank for the second quarter in a row by 0.3 percent from the preceding three-month period, due to weakness in exports, domestic consumption and investment. Published on 2013-08-19


GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


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