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

Thailand’s GDP expanded by 2.9 percent from a year earlier in the third quarter of 2015, slightly up from 2.8 percent growth reported in April to June period and above market expectations. A faster increase in exports and a small rise in private consumption offset a drop in investment and a slowdown in government spending. GDP Annual Growth Rate in Thailand averaged 3.61 percent from 1994 until 2015, 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.

Thailand GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
2.90 2.80 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. Thailand GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-05-18 03:30 AM Q1 3.0% 2.1%(R) 3.4% 2.9%
2015-08-17 03:30 AM Q2 2.8% 3.0% 2.8% 2.54%
2015-11-16 02:30 AM Q3 2.9% 2.8% 2.6% 2.54%
2016-02-15 02:30 AM Q4 2.9% 2.7%
2016-05-18 02:30 AM Q1 2.6%
2016-08-18 02:30 AM Q2 2.14%

Thai Economy Accelerates in Q3


Thailand’s GDP expanded by 2.9 percent from a year earlier in the third quarter of 2015, slightly up from 2.8 percent growth reported in April to June period and above market expectations. A faster increase in exports and in private consumption offset a drop in investment and a slowdown in government spending.

On the expenditure side, private consumption grew by 1.7 percent, following a 1.6 percent increase in the June quarter. While spending on net service rose, those on durable goods dropped and spending on semi durable and non-durable decelerated. Government expenditure expanded by 1.0 percent, slowing from a 3.8 percent increase, as compensation of employees increased by 2.0 percent while consumption of fixed capital grew by 4.9 percent. Purchases from enterprises and aboard also rose by 2.6 percent. In contrast, social transfers in kind fell by 7.7 percent. Gross fixed capital formation declined  by 1.2 percent, following a  2.7 percent growth in the June quarter, mainly due to a 6.6 percent decline in private investment as private construction and investment in machinery dropped. Public investment grew by 15.9 percent, slowing from an a 24.7 percent expansion in the previous quarter, as both investment in construction and public machinery slowed.
 
Exports of goods and services expanded by 1.8 percent, accelerating from a 1.0 percent growth in the preceding quarter. Imports decreased by 2.4 percent, following a  0.4 percent fall in the June quarter.
 
On the production side, the non-agricultural sector expanded by 3.4 percent, as compared to a 3.5 percent growth in the second quarter. Growth was seen for: manufacturing (+0.8 percent in the third quarter from -0.7 percent in the previous quarter); mining and quarrying (+0.9 percent from -3.9 percent);  (hotels and restaurants (+10.9 percent from +18.7 percent); construction (+7.7 percent from +17.8 percent); transport, storage and communication (+7.1 percent from +9.4 percent); financial intermediation (+6.5 percent from +8.2 percent); othe community, social and personal service (+5.4 percent from +6.3 percent); electricity, gas and water supply (+4.8 percent from +2.9 percent); wholesale, retail trade and repairing (+3.9 percent from +3.7 percent) and real estate, renting and business services (+2.5 percent from +1.4 percent). In contrast, a contraction was seen for: agriculture, hunting and forestry (-5.8 percent from -5.7 percent) and fishery (-3.1 percent,mainly due to  the cancellation of fishing concession in Indonesian waters and strict enforcement against illegal fishing).

For 2015, the Thailand's economic planning agency (NESDB) now projected the economy to grow by 2.9 percent, following an earlier forecasts of 2.7 percent to 3.2 percent. Exports for the year is expected to fall by 5.0 percent.

On a quarter-over-quarter seasonally adjusted basis, the GDP expanded by 1.0 percent, acclerating from a downwardly revised 0.3 percent  growth in the previous three months and beating market consensus.

NESDB I Rida Husna | rida@tradingeconomics.com
11/16/2015 1:05:58 PM

Thailand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.00 0.40 9.60 -6.30 percent [+]
GDP Annual Growth Rate 2.90 2.80 19.10 -13.90 percent [+]
GDP 404.82 420.17 420.17 2.76 USD Billion [+]
GDP Constant Prices 2382172.00 2358688.00 2382172.00 1043930.00 THB Million [+]
Gross National Product 4839.07 4693.46 4839.07 910.68 THB Billion [+]
Gross Fixed Capital Formation 570199.00 574635.00 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 121047.00 123794.00 132481.00 66849.00 THB Million [+]
GDP From Construction 62070.00 66498.00 103692.00 36619.00 THB Million [+]
GDP From Manufacturing 665508.00 653402.00 673912.00 269359.00 THB Million [+]
GDP From Mining 58498.00 57271.00 61361.00 20064.00 THB Million [+]
GDP From Public Administration 130625.00 130123.00 130625.00 41767.00 THB Million [+]
GDP From Transport 243043.00 242091.00 243043.00 64995.00 THB Million [+]
GDP From Utilities 78756.00 77919.00 78756.00 22202.00 THB Million [+]




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