Thailand GDP Annual Growth Rate  1994-2016 | Data | Chart | Calendar

Thailand’s GDP expanded 3.5 percent from a year earlier in the second quarter of 2016, compared to a 3.2 percent expansion in the March quarter and beating market expectations of a 3.2 percent expansion. It was the strongest growth since the first quarter of 2013. On a quarter-over-quarter seasonally adjusted basis, the GDP grew by 0.8 percent, slowing from an upwardly revised 1.0 percent expansion in the previous three months and above consensus of a 0.5 percent expansion. From January to June 2016, the economy grew by 3.4 percent, faster than a 2.8 percent expansion in the same period a year earlier. For 2016, the Thailand's economic planning agency (NESDB) projected GDP growth to be at 3.0 to 3.5 percent, unchanged from an earlier forecast. GDP Annual Growth Rate in Thailand averaged 3.69 percent from 1994 until 2016, reaching an all time high of 15.30 percent in the fourth quarter of 2012 and a record low of -12.50 percent in the second quarter of 1998. GDP Annual Growth Rate in Thailand is reported by the Nesdb, Thailand.

Thailand GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
3.50 3.20 15.30 -12.50 1994 - 2016 percent Quarterly
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, defence and social security (4.5 percent of GDP). Agriculture also makes a significant contribution - around 13 percent of GDP. This page provides - Thailand GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Thailand GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-15 02:30 AM Q4 2.8% 2.9% 2.7% 2.7%
2016-05-16 02:30 AM Q1 3.2% 2.8% 2.8% 2.7%
2016-08-15 02:30 AM Q2 3.5% 3.2% 3.2% 3.0%
2016-11-16 02:30 AM Q3 3.5% 3.0%

Thailand GDP Growth Strongest in Over 3 Years


Thailand’s GDP expanded 3.5 percent from a year earlier in the second quarter of 2016, compared to a 3.2 percent expansion in the March quarter and beating market expectations of a 3.2 percent expansion. It was the strongest growth since the first quarter of 2013, mainly driven by private consumption while government spending, investment and exports eased.

On the expenditure side, private consumption grew by 3.8 percent in the three months to June 2016, faster than a 2.3 percent increase in the preceding quarter, mainly driven to an increase in expenditure on durable and semi-durable goods. New vehicle purchase by household significantly picked up by a 13.1 percent growth compared to a 2.4 percent contraction in the previous quarter. Rising demand for vehicle was driven by the new car launches and the ongoing incentive promotion campaign, together with higher farm income from both crops and fishery as well as fiscal stimulus package during the Songkran festival.

Government expenditure expanded 2.2 percent, down from a 8.0 percent increase in the previous quarter. The slowdown was largely due to by lower  compensation of employees and purchases of goods and services while  social transfers in kind contracted.

Gross fixed capital formation advanced by 2.7 percent, compared to a 4.9 percent increase. Private investment grew by 0.1 percent from a year earlier (from +2.7 percent in the first quarter) while public investment surged 10.4 percent. 

Exports of goods and services rose 0.6 percent, slowing from a 4.9 percent increase in the first quarter. Imports decreased by 2.2 percent, compared to a 4.7 percent fall in the preceding three months.

On the production side, the non-agricultural sector expanded by 3.7 percent, the same pace as in the March quarter.  In contrast, agriculture sector contracted by 0.1 percent, following a 1.4 percent fall in the previous quarter. Growth in non-agriculture sector was seen for: mining and quarrying (+1.4 percent from +4.7 percent in the previous quarter); manufacturing (+2.0 percent from -0.2 percent); eelectricity, gas and water supply (+6.9 percent from +7.7 percent), construction (+7.5 percent from +11.2 percent); wholesale and retail trade; repair of motor (+5.4 percent from +5.0 percent); hotels and restaurants (+12.7 percent from +15.8 percent);  transport, storage and communication (+4.2 percent from +5.6 percent),  financial intermediation (+4.5 percent from +4.5 percent); real estate services (+2.3 percent from +3.3 percent); public administration and defence (+0.4 percent from +1.3 percent), health and social work (+4.7 percent from +4.9 percent), other community, social and personal service (+11.0 percent from +8.4 percent) and private households with employed persons (+0.4 percent from +1.8 percent). In contrast, a decline was seen for education (-1.5 percent from +0.5 percent). A contraction in agriculture sector was mainly driven by agriculture, hunting and forestry (-1.2 percent) while   fishery expanded by 13.2 percent.

For 2016, the Thailand's economic planning agency (NESDB) projected GDP growth to be at 3.0 to 3.5 percent, unchanged from an earlier forecast. Exports in the year are expected to decline by 1.9 percent, following previous projections of a 1.7 percent drop.

On a quarter-over-quarter seasonally adjusted basis, the GDP grew by 0.8 percent, slowing from an upwardly revised 1.0 percent  expansion in the previous three months and above  consensus of a 0.5 percent expansion.

Considering January to June 2016, the economy grew by 3.4 percent, faster than a 2.8 percent expansion in the same period a year earlier.

NESDB l Rida Husna | rida@tradingeconomics.com
8/15/2016 7:13:23 AM

Thailand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.80 1.00 9.60 -6.30 percent [+]
GDP Annual Growth Rate 3.50 3.20 15.30 -12.50 percent [+]
GDP 395.28 404.32 419.89 2.76 USD Billion [+]
GDP Constant Prices 2438754.00 2419260.00 2438754.00 1043930.00 THB Million [+]
Gross National Product 4839.07 4693.46 4839.07 910.68 THB Billion [+]
Gross Fixed Capital Formation 596026.00 623908.00 713853.00 18375.42 THB Million [+]
GDP per capita 5774.65 5635.64 5774.65 570.86 USD [+]
GDP per capita PPP 15345.36 14975.96 15345.36 6650.69 USD [+]
GDP From Agriculture 124333.00 121350.00 132481.00 66849.00 THB Million [+]
GDP From Construction 69586.00 73711.00 103692.00 36619.00 THB Million [+]
GDP From Manufacturing 672357.00 663160.00 673912.00 269359.00 THB Million [+]
GDP From Mining 59998.00 62343.00 62363.00 20064.00 THB Million [+]
GDP From Public Administration 123595.00 124119.00 130625.00 41767.00 THB Million [+]
GDP From Transport 252015.00 249623.00 252015.00 64995.00 THB Million [+]
GDP From Utilities 82187.00 80516.00 82187.00 22202.00 THB Million [+]




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