Thailand GDP Annual Growth Rate 1994-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in Thailand expanded 3.0 percent in the first quarter of 2015 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
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Actual Previous Highest Lowest Dates Unit Frequency
3.00 2.10 19.10 -13.90 1994 - 2015 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 Wednesday, May 27, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2014-11-17 02:30 AM Q3 0.6% 0.4% 1.0% 0.78%
2015-02-16 02:30 AM Q4 2.3% 0.6% 2.4% 1.8%
2015-05-18 03:30 AM Q1 3.0% 2.1% (R) 3.4% 2.9%
2015-08-18 03:30 AM Q2 3.0 2.35%
2015-11-17 02:30 AM Q3 0.17%


Thai Economy Grows Fastest in 2-Years


Thailand’s GDP expanded by 3 percent from a year earlier in the first quarter of 2015, up from downwardly revised 2.1 percent reported in October to December, but below market expectations. The growth was boosted by private spending and a surge in public investment while exports slowed sharply.

On the expenditure side, private consumption rose 2.4 percent year-on-year, accelerating from a 2.1 percent growth in the previous quarter, as purchasing power of households increased. Gross fixed capital formation expanded by 10.7 percent, surging from a 3.2 percent growth in the December quarter, mainly due to a 37.8 percent expansion in public investment, both in construction and machinery. Private investment grew by 3.6 percent, moderating from a 4.1 percent in the preceding quarter. General government consumption rose by 2.5 percent, slowing from a 3.6 percent expansion in the last quarter of 2014 as an increase in purchases of goods and services (+14.7 percent) and fixed capital consumption (+5.3 percent) were unable to offset a decline in compensation  of employees (-1.5 percent). Exports of goods and services grew 1.0 percent, slowing from a 4.9 percent growth in the preceding quarter, while imports increased by 2.3 percent.   

On the production side, the non-agricultural sector expanded by 4.1 percent, as compared to a 3.1 percent growth in the December quarter. In contrast, the agricultural sector declined by 4.8 percent, compared to a 3.2 percent fall in the preceding quarter, as yield of major crops fall. The growth of non-agriculture were seen for: the construction sector (+25.4 percent from +1.3 percent in Q4); hotels and restaurants (+13.5 percent from +3.3 percent); financial intermediation (+9.6 percent from +7.0 percent); electricity, gas and water supply (+3.8 percent from +8.6 percent); manufacturing (+2.3 percent from +1.4 percent); wholesale and retail trade, transport, storage and communication (+7.1 percent from +5.7 percent); repair of vehicles and personal household goods (+3.9 percent from +2.8 percent) and real estate (+2.8 percent from +2.6 percent). A decline in the agricultural sector was mainly contibuted by a 5.3 percent fall in agriculture, hunting and forestry. 

On a quarter-over-quarter seasonally adjusted basis, the GDP increased 0.3 percent, significantly slowing from a revised 1.1 percent expansion in the previous period.

The Thailand government's economic-planning agency, NESDB, slashed its 2015 GDP growth estimate to a range of 3.0 to 4.0 percent from an earlier 3.5 to 4.5 percent. NESDB also lowered  its export-value growth target to 0.2 percent from its previous estimate of 3.5 percent, mainly due to weak global economy and low agricultural prices. 

NESDB l Rida Husna l rida@tradingeconomics.com
5/18/2015 9:28:20 AM


Recent Releases

Thai GDP Grew Less Than Expected in Q4
Thailand’s economy advanced 2.3 percent from a year earlier in the last quarter of 2014, up from a 0.6 percent expansion in the previous period. The growth was driven by a rebound in government spending and exports while consumption rose at a slower pace. Published on 2015-02-16

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. Published on 2014-11-17


Thailand GDP Last Previous Highest Lowest Unit
GDP 387.25 365.97 387.25 2.76 USD Billion [+]
GDP Growth Rate 0.30 1.10 11.20 -11.10 percent [+]
GDP Annual Growth Rate 3.00 2.10 19.10 -13.90 percent [+]
GDP Constant Prices 1296266.00 1274304.00 1296266.00 590509.00 THB Million [+]
Gross National Product 4839.07 4693.46 4839.07 910.68 THB Billion [+]
GDP per capita 3437.84 3389.58 3437.84 358.92 USD [+]
Gross Fixed Capital Formation 272332.00 272854.00 346459.00 18375.42 THB Million [+]
GDP per capita PPP 13931.81 13736.22 13931.81 6368.78 USD [+]


GDP Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.50 Nov/14 2.70 9.00 -3.40 percent [+]
Brazil -0.20 Nov/14 -0.60 10.10 -3.15 percent [+]
Canada 2.63 Nov/14 2.75 8.80 -3.70 percent [+]
China 7.00 Feb/15 7.30 14.20 3.80 percent [+]
Euro Area 1.00 Feb/15 0.90 5.00 -5.60 percent [+]
France 0.70 Feb/15 0.00 12.50 -3.92 percent [+]
Germany 1.10 Feb/15 1.60 5.20 -6.80 percent [+]
India 7.50 Nov/14 8.20 11.40 -5.20 percent [+]
Indonesia 4.71 Feb/15 5.01 7.16 1.56 percent [+]
Italy 0.00 Feb/15 -0.50 10.30 -6.90 percent [+]
Japan -1.40 Feb/15 -0.90 9.40 -9.40 percent [+]
Mexico 2.50 Feb/15 2.60 8.50 -8.10 percent [+]
Netherlands 2.40 Feb/15 1.40 5.80 -4.40 percent [+]
Russia -1.90 Feb/15 0.40 12.10 -11.20 percent [+]
South Korea 2.40 Feb/15 2.70 18.20 -7.30 percent [+]
Spain 2.60 Feb/15 2.00 5.80 -4.40 percent [+]
Switzerland 1.90 Nov/14 1.90 7.30 -3.70 percent [+]
Turkey 2.60 Nov/14 1.90 12.60 -14.70 percent [+]
United Kingdom 2.40 Feb/15 3.00 9.80 -5.80 percent [+]
United States 3.00 Feb/15 2.40 13.40 -4.10 percent [+]