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

The Gross Domestic Product (GDP) in Thailand expanded 0.40 percent in the second 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.


Thailand GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.40 -0.50 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 Saturday, October 25, 2014.

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.

On the expenditure side, private consumption increased 0.2 percent year-on-year, following a 3.0 percent fall in the January to March period. This was the first expansion after three consecutive quarters of decline. Consumption of semi-durables, non-durable goods and net services increased amid continued decrease of durable goods.

Government spending rose 1.9 percent yoy, slowing from a 4.2 percent increase in the first quarter, as net purchase of goods and services increased a meager 0.6 percent.

Gross fixed capital formation dropped 6.9 percent yoy in the second quarter, following a 9.3 percent fall in the previous period. Private investment decreased by 7.0 percent, better than a 7.4 percent drop in the previous quarter, while public investment fell at a slower 6.7 percent (following a 16.6 percent fall in the first quarter).

Exports of goods rose 1.5 percent yoy, the fastest pace in five quarters while imports of goods contracted 11.4 percent. 

On the production side, both agriculture and non-agriculture output expanded by 2.2 percent and 0.2 percent, respectively. Agricultural production was mainly driven by palm oil production in respond to plantation expansion while production of paddy and maize went up. As for the non-agriculture sector, growth was mainly driven by the transport and communication sector (+5.3 percent), financial intermediation (+6.1 percent), utilities (+3.4 percent), public administration and defense (4.0 percent) and education (+2.6 percent). Manufacturing production declined by 1.6 percent, due to a 0.1 percent and 3.8 percent fall in light, and capital and high technology industries.

On a quarter-over-quarter basis, the GDP increased 0.9 percent compared to a revised 1.9 percent fall in the previous period. The state planning agency cut again its 2014 GDP growth forecast to 1.5 percent to 2.0 percent from a previous 1.5 to 2.5 percent. For 2015, the country’s economy is projected to expand between 3.5 to 4.5 percent.

NESDB l Rida l
8/18/2014 11:09:17 AM

Recent Releases

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

Thai GDP Growth Slows Sharply in Q4
In the fourth quarter of 2013, the Thai GDP grew a meager 0.6 percent over a year earlier, down from 2.7 percent in the preceding quarter, as political unrest hurt demand, tourism and investment. Published on 2014-02-17

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2013-11-18 02:30 AM Thailand
GDP Growth Rate YoY
Q3 2013 2.7% 2.9% (R) 2.9% 4.51%
2014-02-17 02:30 AM Thailand
GDP Growth Rate YoY
Q4 2013 0.6% 2.7% 0.4% 1.38%
2014-05-19 03:30 AM Thailand
GDP Growth Rate YoY
Q1 2014 -0.6% 0.6% 0.1% 0.19%
2014-08-18 03:30 AM Thailand
GDP Growth Rate YoY
Q2 2014 0.4% -0.5% (R) 0.3% 0.1%
2014-11-17 02:30 AM Thailand
GDP Growth Rate YoY
Q3 2014 0.4% 0.28%

Thailand GDP Last Previous Highest Lowest Unit
GDP 387.25 365.97 387.25 2.76 USD Billion [+]
GDP Growth Rate 0.90 -1.90 11.40 -11.10 Percent [+]
GDP Annual Growth Rate 0.40 -0.50 19.10 -13.90 Percent [+]
GDP Constant Prices 1255781.00 1245092.00 1268853.00 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 262501.00 255897.00 346459.00 18375.42 THB Million [+]
GDP per capita PPP 13931.81 13736.22 13931.81 6368.78 USD [+]