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

Thailand’s GDP expanded 3.2 percent from a year earlier in the third quarter of 2016, compared to a 3.5 percent expansion in the previous period and market expectations of a 3.4 percent growth. Private consumption, investment and exports were the main drivers of growth while government spending declined sharply. For 2016, the Thailand's economic planning agency (NESDB) projected the economy to advance 3.2 percent, compared to a previous forecast range of 3.0 to 3.5 percent. On a quarter-over-quarter seasonally adjusted basis, the GDP grew by 0.6 percent, compared to a downwardly revised 0.7 percent expansion in the previous three months. It was the weakest growth rate since the second quarter of 2015 and slightly below market consensus of a 0.7 percent expansion. 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.

Thailand GDP Annual Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
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%
2016-11-21 02:30 AM Q3 3.2% 3.5% 3.4% 3.1%
2017-02-15 02:30 AM Q4
2017-05-16 02:30 AM Q1
2017-08-15 02:30 AM Q2




Thailand GDP Growth Below Estimates in Q3


Thailand’s gross domestic product expanded 3.2 percent from a year earlier in the third quarter of 2016, compared to a 3.5 percent expansion in the previous period and market expectations of a 3.4 percent growth. Private consumption, investment and exports were the main drivers of growth while government spending declined sharply.

In the three months to September, private consumption grew by 3.5 percent, compared to a 3.8 percent increase in the preceding quarter. While expenditure on durable and non-durable goods, particularly for vehicles and furniture purchased by households eased, spending on semi-durable goods declined. 

Gross fixed capital formation advanced by 1.4 percent (from +3.2 percent in the June quarter). Public investment rose 6.3 percent (from +11.9 percent).

Exports grew by 3.4 percent, following a 2 percent increase in the June quarter. Imports fell 1.3 percent (from -1.6 percent).

In contrast, government spending shrank 5.8 percent (from +1.5 percent).

On the production side, the non-agricultural sector expanded by 3.2 percent, slowing from a 3.8 percent increase in the June quarter, Agriculture sector also grew  by 0.9 percent, following a 1.2 percent fall in the previous quarter. Growth in non-agriculture sector was seen for: mining and quarrying (+2.9 percent from +1.5 percent in the previous quarter); manufacturing (+0.9 percent from +2.1 percent); electricity, gas and water supply (+6.1 percent from +7.2 percent), construction (+5.0 percent from +7.8 percent); wholesale and retail trade; repair of motor (+5.5 percent from +5.5 percent); hotels and restaurants (+15.9 percent from +12.7 percent);  transport, storage and communication (+6.4 percent from +4.4 percent), financial intermediation (+4.4 percent from +4.6 percent); real estate services (+1.8 percent from +2.8 percent);  health and social work (+1.9 percent from +5.2 percent), other community, social and personal service (+10.3 percent from +10.5 percent) and private households with employed persons (+2.4 percent from +1.4 percent). In contrast, a decline was seen for: public administration and defence (-3.4 percent from +0.1 percent), education (-2.4 percent from -1.6 percent). 

For 2016, the Thailand's economic planning agency (NESDB) projected the economy to advance 3.2 percent, compared to a previous forecast range of 3.0 to 3.5 percent. Exports in the year are expected to be flat, following earlier projections of a 1.9 percent drop.

On a quarter-over-quarter seasonally adjusted basis, the GDP grew by 0.6 percent, compared to a downwardly revised 0.7 percent expansion in the previous three months. It was the weakest growth since the June quarter 2015 and slightly below market consensus of a 0.7 percent expansion.

For 2017, GDP is projected to expand between 3.0 to 4.0 percent while exports rose 2.4 percent.

In 2015, the economy grew by 2.8 percent.

NESDB l Rida Husna | rida@tradingeconomics.com
11/21/2016 8:49:01 AM



Thailand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.70 9.60 -6.30 percent [+]
GDP Annual Growth Rate 3.20 3.50 15.30 -12.50 percent [+]
GDP 395.28 404.32 419.89 2.76 USD Billion [+]
GDP Constant Prices 2451326.00 2437862.00 2451326.00 1043930.00 THB Million [+]
Gross National Product 4839.07 4693.46 4839.07 910.68 THB Billion [+]
Gross Fixed Capital Formation 579457.00 596737.00 713853.00 258609.00 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 123296.00 123082.00 132115.00 66849.00 THB Million [+]
GDP From Construction 66489.00 69325.00 103692.00 36619.00 THB Million [+]
GDP From Manufacturing 672196.00 672628.00 674395.00 269359.00 THB Million [+]
GDP From Mining 62445.00 59973.00 62445.00 20064.00 THB Million [+]
GDP From Public Administration 120190.00 123040.00 125530.00 41767.00 THB Million [+]
GDP From Transport 257013.00 252353.00 257013.00 64995.00 THB Million [+]
GDP From Utilities 83241.00 82399.00 83241.00 22202.00 THB Million [+]



Thailand GDP Annual Growth Rate Notes

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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
3.20 3.50 15.30 -12.50 1994 - 2016 percent Quarterly



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