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

Thailand’s GDP expanded by 3.2 percent from a year earlier in the first quarter of 2016, as compared to a 2.8 percent expansion in the previous quarter and beating market expectations of a 2.8 percent expansion. It is the strongest growth since the March quarter of 2013. For 2016, the Thailand's economic planning agency (NESDB) projected GDP growth to be at 3.0 to 3.5 percent, compared to earlier forecasts in February at 2.8 to 3.8 percent. Exports in the year are expected to decline by 1.7 percent, following previous projections of a 1.2 percent increase. On a quarter-over-quarter seasonally adjusted basis, the GDP expanded by 0.9 percent from a 0.8 percent growth in the previous three months and above consensus of 0.6 percent. 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
3.20 2.80 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 May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-11-16 02:30 AM Q3 2.9% 2.8% 2.6% 2.54%
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%
2016-08-18 02:30 AM Q2 3.2% 2.9%
2016-11-16 02:30 AM Q3 3.0%

Thailand GDP Growth Strongest in 3 Years


Thailand’s GDP expanded by 3.2 percent from a year earlier in the first quarter of 2016, as compared to a 2.8 percent expansion in the previous quarter and beating market expectations of a 2.8 percent growth. It is the strongest expansion since the March quarter of 2013, mainly driven by government spending and net exports while private consumption and investment eased.

On the expenditure side, private consumption grew by 2.3 percent in the three month to March 2016, lower than a 2.6 percent increase in the preceding quarter. The slowdown was partly due to a faded-off effect after the expedited spending driven by fiscal stimulus package and persistently low farm income. Spending on durable and semi-durable goods slightly increased, while non-durable consumption showed better growth. Meanwhile, service expenses increased by 0.4 percent, compared to a 2.0 percent growth in the December quarter 2015. Government expenditure expanded by 8.0 percent, up from a 4.8 percent increase in the previous quarter, contributed by high purchases of goods and services and social welfare benefit. In addition, compensation of employees still increased. Gross fixed capital formation advanced by 4.7 percent, compared to a 9.4 percent increase. Private investment grew by  2.1 percent from a year earlier (from +1.9 percent in the fourth quarter) while public investment expanded by 12.4 percent (following a 41.2 percent rise in the previous three months). Exports of goods and services rose 5.1 percent, rebounding from a 3.3 percent decrease in the fourth quarter 2015. Imports decreased by 4.8 percent, compared to a 1.2 percent fall in the preceding three months.

On the production side, the non-agricultural sector expanded by 3.7 percent, as compared to a 4.2 percent growth in the December quarter.  In contrast, agriculture sector contracted by 1.5 percent, following a 3.4 percent fall in the previous quarter. Growth in non-agriculture sector was seen for: mining and quarrying (+4.8 percent from +4.0 percent in the previous quarter); eelectricity, gas and water supply (+7.3 percent from +5.0 percent), construction (+11.2 percent from +23.9 percent); transport, storage and communication (+5.6 percent from +5.3 percent); wholesale-retail trades and repairing (+5.1 percent from +5.5 percent); financial intermediation (+4.5 percent from +7.5 percent); real estate services (+3.0 percent from +6.6 percent); hotels and restaurants (+15.8 percent from +5.0 percent) and other community, social and personal service (+7.9 percent from +8.3 percent). In contrast, manufacturing  production shrank 0.3 percent (from +0.8 percent, as a result of slowdown in domestic demand). Meanwhile, a contraction in agriculture sector mainly driven by  agriculture, hunting and forestry (-2.5 percent) while   fishery expanded by 9.1 percent.

For 2016, the Thailand's economic planning agency (NESDB) projected the GDP to be at 3.0 to 3.5 percent, compared to earlier forecasts in February at 2.8 to 3.8 percent. Exports in the year are expected to decline by 1.7 percent, following previous projections  at  a 1.2 percent increase.

On a quarter-over-quarter seasonally adjusted basis, the GDP expanded by 0.9 percent from a 0.8 percent  growth in the previous three months and above  consensus of  0.6 percent.

NESDB l Rida Husna | rida@tradingeconomics.com
5/16/2016 2:13:34 PM

Thailand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.90 0.80 9.60 -6.30 percent [+]
GDP Annual Growth Rate 3.20 2.80 15.30 -12.50 percent [+]
GDP 404.82 420.17 420.17 2.76 USD Billion [+]
GDP Constant Prices 2419260.00 2395644.00 2419260.00 1043930.00 THB Million [+]
Gross National Product 4839.07 4693.46 4839.07 910.68 THB Billion [+]
Gross Fixed Capital Formation 623908.00 611684.00 713853.00 18375.42 THB Million [+]
GDP per capita 3451.33 3437.84 3451.33 358.92 USD [+]
GDP per capita PPP 13986.50 13931.81 13986.50 6368.78 USD [+]
GDP From Agriculture 121350.00 121834.00 132481.00 66849.00 THB Million [+]
GDP From Construction 73711.00 71272.00 103692.00 36619.00 THB Million [+]
GDP From Manufacturing 663160.00 668900.00 673912.00 269359.00 THB Million [+]
GDP From Mining 62343.00 62363.00 62363.00 20064.00 THB Million [+]
GDP From Public Administration 124119.00 125313.00 130625.00 41767.00 THB Million [+]
GDP From Transport 249623.00 243065.00 249623.00 64995.00 THB Million [+]
GDP From Utilities 80516.00 79911.00 80516.00 22202.00 THB Million [+]




Last
South Sudan 15.90 Dec/14
Ethiopia 10.20 Dec/14
Ivory Coast 9.80 Dec/15
Congo 9.50 Dec/14
Ireland 9.20 Dec/15
Papua New Guinea 9.00 Dec/15
Myanmar 8.70 Dec/14
Uzbekistan 7.50 Mar/16
India 7.30 Dec/15
Chad 7.20 Dec/14
Monaco 7.20 Dec/14
East Timor 7.10 Dec/14
Rwanda 7.10 Dec/15
Tanzania 7.10 Dec/15
Bangladesh 7.05 Dec/16
Cameroon 7.00 Sep/15
Laos 7.00 Dec/15
Senegal 7.00 Dec/15
Cambodia 6.90 Dec/15
Philippines 6.90 Mar/16
China 6.70 Mar/16
Turkmenistan 6.70 Dec/15
Uganda 6.68 Dec/15
Nicaragua 6.60 Dec/15
Sierra Leone 6.57 Dec/14
Tajikistan 6.50 Mar/16
Mauritania 6.40 Dec/14
Dominican Republic 6.10 Dec/15
Palestine 6.10 Dec/15
Republic of the Congo 6.00 Dec/14
Togo 6.00 Dec/15
Benin 5.70 Dec/15
Malta 5.70 Dec/15
Turkey 5.70 Dec/15
Kenya 5.60 Dec/15
Bhutan 5.50 Dec/14
Djibouti 5.50 Dec/14
Vietnam 5.46 Mar/16
Mozambique 5.30 Mar/16
Panama 5.30 Dec/15
Gabon 5.10 Dec/14
Bolivia 5.01 Jun/15
Guinea Bissau 5.00 Dec/15
Zambia 5.00 Dec/15
Indonesia 4.92 Mar/16
Angola 4.90 Dec/15
Central African Republic 4.90 Dec/15
Ghana 4.90 Dec/15
Niger 4.90 Dec/15
Sao Tome and Principe 4.80 Dec/14
Burundi 4.70 Dec/14
Mali 4.70 Dec/15
Morocco 4.70 Dec/15
Oman 4.60 Dec/14
United Arab Emirates 4.60 Dec/14
Egypt 4.50 Jun/15
Sweden 4.50 Dec/15
Lesotho 4.40 Dec/14
Peru 4.40 Mar/16
Romania 4.30 Mar/16
Seychelles 4.30 Dec/15
Pakistan 4.24 Dec/15
Burkina Faso 4.20 Dec/15
Guinea 4.20 Dec/14
Malaysia 4.20 Mar/16
Cuba 4.00 Dec/15
Fiji 4.00 Dec/15
Kosovo 4.00 Sep/15
Qatar 4.00 Dec/15
Zimbabwe 4.00 Dec/14
Algeria 3.90 Dec/15
Guatemala 3.90 Sep/15
Macedonia 3.90 Dec/15
Honduras 3.60 Dec/15
Mauritius 3.60 Dec/15
Saudi Arabia 3.60 Dec/15
Serbia 3.50 Mar/16
Nepal 3.40 Dec/15
Spain 3.40 Mar/16
Suriname 3.40 Dec/14
Colombia 3.30 Dec/15
Costa Rica 3.30 Dec/15
Slovakia 3.30 Mar/16
Slovenia 3.30 Dec/15
Cape Verde 3.20 Dec/15
Iceland 3.20 Dec/15
Madagascar 3.20 Dec/14
Thailand 3.20 Mar/16
Czech Republic 3.10 Mar/16
Mongolia 3.10 Mar/16
Australia 3.00 Dec/15
Comoros 3.00 Dec/15
Guyana 3.00 Dec/15
Luxembourg 3.00 Dec/15
Malawi 3.00 Dec/15
Poland 3.00 Mar/16
Bulgaria 2.90 Mar/16
Georgia 2.90 Dec/15
Maldives 2.90 Dec/15
Bahrain 2.80 Dec/15
Cyprus 2.70 Mar/16
South Korea 2.70 Mar/16
Sudan 2.70 Dec/14
El Salvador 2.60 Dec/15
Jordan 2.60 Dec/15
Mexico 2.60 Mar/16
Somalia 2.60 Dec/14
Sri Lanka 2.50 Dec/15
Swaziland 2.50 Dec/14
New Zealand 2.30 Dec/15
Lithuania 2.20 Mar/16
Albania 2.15 Dec/15
Afghanistan 2.10 Dec/15
Bosnia and Herzegovina 2.10 Dec/15
United Kingdom 2.10 Mar/16
Chile 2.00 Mar/16
United States 2.00 Mar/16
Armenia 1.90 Dec/16
Cayman Islands 1.90 Sep/15
Croatia 1.90 Dec/15
Eritrea 1.90 Dec/14
Latvia 1.80 Mar/16
Namibia 1.80 Dec/15
Singapore 1.80 Mar/16
Estonia 1.70 Mar/16
European Union 1.70 Mar/16
Haiti 1.70 Dec/15
Israel 1.70 Mar/16
Belgium 1.50 Mar/16
Euro Area 1.50 Mar/16
Jamaica 1.50 Sep/15
Montenegro 1.40 Dec/15
Netherlands 1.40 Mar/16
Austria 1.30 Mar/16
France 1.30 Mar/16
Germany 1.30 Mar/16
Bahamas 1.20 Dec/15
Paraguay 1.10 Dec/15
Finland 1.00 Mar/16
Italy 1.00 Mar/16
Lebanon 1.00 Dec/15
North Korea 1.00 Dec/14
Tunisia 1.00 Mar/16
Argentina 0.90 Dec/15
Hungary 0.90 Mar/16
Hong Kong 0.80 Mar/16
Portugal 0.80 Mar/16
Japan 0.70 Dec/15
Norway 0.70 Mar/16
Belize 0.60 Dec/15
Iran 0.60 Mar/15
South Africa 0.60 Dec/15
Canada 0.50 Dec/15
Denmark 0.50 Dec/15
Switzerland 0.40 Dec/15
Liberia 0.30 Dec/15
New Caledonia 0.30 Dec/14
Barbados 0.20 Dec/14
Ukraine 0.10 Mar/16
Uruguay -0.10 Dec/15
Kazakhstan -0.20 Mar/16
Nigeria -0.40 Mar/16
Brunei -0.50 Dec/15
Liechtenstein -0.80 Dec/14
Taiwan -0.84 Mar/16
Ecuador -0.90 Dec/15
Puerto Rico -0.90 Dec/14
Greece -1.20 Mar/16
Russia -1.20 Mar/16
Gambia -1.40 Dec/14
Kuwait -1.60 Dec/14
Botswana -1.90 Dec/15
Trinidad and Tobago -2.00 Sep/15
Equatorial Guinea -2.10 Dec/14
Iraq -2.10 Dec/14
Syria -2.30 Dec/11
Moldova -3.30 Dec/15
Azerbaijan -3.50 Mar/16
Belarus -3.60 Mar/16
Kyrgyzstan -4.90 Mar/16
Brazil -5.90 Dec/15
Venezuela -7.10 Sep/15
Macau -14.40 Dec/15
Libya -21.80 Dec/14
Yemen -28.10 Dec/15