Thailand GDP Annual Growth Rate 1994-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in Thailand expanded 0.60 percent in the third quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Thailand averaged 3.68 Percent from 1994 until 2014, reaching an all time high of 19.10 Percent in the fourth quarter of 2012 and a record low of -13.90 Percent in the second quarter of 1998. GDP Annual Growth Rate in Thailand is reported by the Nesdb, Thailand.

   
  Forecast  

Thailand GDP Annual Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.40 19.10 -13.90 1994 - 2014 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. Content for - Thailand GDP Annual Growth Rate - was last refreshed on Sunday, November 23, 2014.


Thai Economy Expands 0.6% in Q3


Thailand’s GDP grew 0.6 percent in the third quarter of 2014, improving slightly from a 0.4 percent rise reported in the previous period. While private consumption and investments supported the expansion, exports decreased and government expenditure slowed down.

On the expenditure side, private consumption increased 2.2 percent year-on-year compared to a 0.2 percent rise in April to June period. Consumer spending recovered supported by rising consumption of non-durable goods and services, while spending on durable goods declined.
Gross fixed capital formation increased 2.9 percent, after consecutively declining for four quarters with a 6.9 percent fall in the second quarter. Private investment rose by 3.9 percent, due to machinery and equipment item while construction kept declining but in a recovery sign. Public investment dropped 0.8 percent, from a 6.7 percent fall in the previous quarter, as public construction decreased 1.9 percent, following a 0.3 percent fall in the previous quarter. 

Government spending grew 0.4 percent year-on-year, slowing from a 1.9 percent increase in the previous quarter, due to a 2.4 percent rise in compensation of employees, while net purchases of goods and services of the government enterprises decreased 1.1 percent. Exports of goods and services declined 4.9 percent, following a 1.5 percent increase in the previous quarter. Imports recovered with a slight fall of 1.1 percent as compared to 11.4 percent decline in the second quarter.

On the production side, agricultural sector grew by 1.7 percent, decelerating from a 4.2 percent rise in the previous quarter, due to a decline in production of paddy, oil palm, maize and rubber. Livestock output kept increasing while fishery contracted but in a recovery sign. In contrast, non-agricultural sector expanded 0.5 percent compared to a 0.1 percent expansion in the second quarter, driven by a recovery of manufacturing sector, which contracted 0.7 percent, improving from 1.6 percent decline in the previous quarter. Transport, storage and communication grew 3.7 percent, slowing from a 4.8 percent increase in the preceding quarter.

On a quarter-over-quarter seasonally adjusted basis, the GDP increased 1.1 percent, unchanged from the previous period. 

Again, the state planning agency trimmed its economic growth forecast for this year to 1.0 percent from 1.5-2.0 percent seen in August. For 2015, Thailand economy is expected to grow between 3.5 to 4.5 percent.

NESDB l Rida l rida@tradingeconomics.com
11/17/2014 7:04:43 PM


Recent Releases

Thailand Economy Returns to Growth in Q2
Thailand’s GDP expanded 0.4 percent from a year earlier in the second quarter of 2014, rebounding from a revised 0.5 percent contraction in the previous quarter and beating market expectations. Domestic consumption rose for the first time in four quarters and exports of goods increased at a faster pace. Published on 2014-08-18

Thai Economy Shrinks in Q1
Thailand’s GDP contracted 0.6 percent from a year earlier in the first three months of 2014, down from a 0.6 percent expansion in the previous quarter. A rise in government expenditure on higher public salaries and wages was not enough to offset a drop in private consumption and investment. Published on 2014-05-19


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-05-19 03:30 AM
GDP Growth Rate YoY  Q1 2014
-0.6% 0.6% 0.1% 0.19%
2014-08-18 03:30 AM
GDP Growth Rate YoY  Q2 2014
0.4% -0.5% (R) 0.3% 0.1%
2014-11-17 02:30 AM
GDP Growth Rate YoY  Q3 2014
0.6% 0.4% 1.0% 0.78%
2015-02-16 02:30 AM
GDP Growth Rate YoY  Q4 2014
0.6% -0.34%
2015-05-15 03:30 AM
GDP Growth Rate YoY  Q1 2014
2015-08-17 03:30 AM
GDP Growth Rate YoY  Q2 2014


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 [+]