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

The Gross Domestic Product (GDP) in Thailand expanded 2.30 percent in the fourth 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
2.30 0.60 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 Friday, March 27, 2015.


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.

On the expenditure side, government spending rose 5.5 percent year-on-year, accelerating from a 0.4 percent expansion in the previous quarter, due to a 2.9 percent rise in compensation of employees an a 8.7 percent increase in net purchases of goods and services of the government enterprises. Private consumption increased 1.9 percent year-on-year, slowing from a 2.2 percent growth in the third quarter, due to a decline in spending on durable goods.
 
Gross fixed capital formation increased 3.2 percent, as compared to a 2.9 percent growth in the July to September period. Private investment rose by 4.1 percent after growing 3.9 percent in the preceding quarter as the rebound in private construction offset a slowdown in private machinery and equipment. Public investment dropped 0.3 percent, from a 0.8 percent fall in the previous quarter as a 5.1 percent increase in public construction was not enough to offset a 8 percent drop in public machinery and equipment.

Exports of goods and services grew 4.9 percent, rebounding from a 3.8 percent decline in the preceding quarter, as sales grew to almost all trading partners, except China. Imports decreased 0.3 percent, extending a 1.1 percent fall in the third quarter, due to a decrease in shipments of capital goods and lower purchases of crude oil.
 
On the production side, the non-agricultural sector expanded 2.7 percent compared to a 0.5 percent growth in the third quarter, due to a broad-based expansion in most production sectors. Growth were seen on the manufacturing sector (+ 0.7 percent from a 0.7 percent decline in the previous quarter); mining and quarrying (+ 0.8 percent from -0.8 percent); electricity, gas and water supply (+ 6.3 percent from + 4.5 percent growth); construction (+3.7 percent from -2.7 percent); transport, storage and communication (+6.5 percent from +3.4  percent); wholesale-retail trades and repairing (+2.3 percent from + 0.6 percent ); hotel and restaurants (+3.6 percent  from -4.6 percent); financial intermediation ( +4.5 percent from +4.9 percent) and other services (+ 4.1 percent from + 1.3 percent). In contrast, agricultural sector declined by 3.5 percent, following a 1.8 percent expansion in July to September, as crops production contracted by 4.1 percent while livestock production expanded by 1.9 percent.
 
On a quarter-over-quarter seasonally adjusted basis, the GDP increased 1.7 percent, accelerating from 1.1 percent in the previous period.

For 2014, Thailand’s economy grew 0.7 percent, slowing from a 2.3 percent in the previous year.

For 2015, the country’s GDP is expected to expand between 3.5-4.5 percent.

NESDB l Rida Husna l rida@tradingeconomics.com
2/16/2015 3:18:58 PM


Recent Releases

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 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


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-08-18 03:30 AM
GDP Growth Rate YoY  Q2
0.4% -0.5% (R) 0.3% 0.1%
2014-11-17 02:30 AM
GDP Growth Rate YoY  Q3
0.6% 0.4% 1.0% 0.78%
2015-02-16 02:30 AM
GDP Growth Rate YoY  Q4
2.3% 0.6% 2.4% 1.8%
2015-05-19 03:30 AM
GDP Growth Rate YoY  Q1
2.3% 1.53%
2015-08-18 03:30 AM
GDP Growth Rate YoY  Q2
2.35%
2015-11-17 02:30 AM
GDP Growth Rate YoY  Q3
0.17%


Thailand GDP Last Previous Highest Lowest Unit
GDP 387.25 365.97 387.25 2.76 USD Billion [+]
GDP Growth Rate 1.70 1.20 11.20 -11.10 percent [+]
GDP Annual Growth Rate 2.30 0.60 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 Aug/14 -0.90 10.10 -3.15 percent [+]
Canada 2.63 Nov/14 2.75 8.80 -3.70 percent [+]
China 7.30 Nov/14 7.30 14.20 3.80 percent [+]
Euro Area 0.90 Nov/14 0.80 5.00 -5.50 percent [+]
France 0.22 Nov/14 0.41 12.50 -3.92 percent [+]
Germany 1.60 Nov/14 1.20 5.20 -6.80 percent [+]
India 7.50 Nov/14 8.20 11.40 -5.20 percent [+]
Indonesia 5.01 Nov/14 4.92 7.16 1.56 percent [+]
Italy -0.50 Nov/14 -0.50 10.30 -6.90 percent [+]
Japan -0.80 Nov/14 -1.40 9.40 -9.40 percent [+]
Mexico 2.60 Nov/14 2.20 8.50 -8.10 percent [+]
Netherlands 1.40 Nov/14 1.00 5.80 -4.40 percent [+]
Russia 0.70 Aug/14 0.80 12.10 -11.20 percent [+]
South Korea 2.70 Nov/14 3.20 18.20 -7.30 percent [+]
Spain 2.50 Feb/15 2.00 5.80 -4.40 percent [+]
Switzerland 1.90 Nov/14 1.90 7.30 -3.70 percent [+]
Turkey 1.70 Aug/14 2.20 12.60 -14.70 percent [+]
United Kingdom 2.70 Nov/14 2.60 9.80 -5.80 percent [+]
United States 2.40 Nov/14 2.70 13.40 -4.10 percent [+]