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

The Gross Domestic Product (GDP) in Thailand expanded 2.80 percent in the second quarter of 2015 over the same quarter of the previous year. GDP Annual Growth Rate in Thailand averaged 3.62 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
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
2.80 3.00 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, September 2, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
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%
2015-08-17 03:30 AM Q2 2.8% 3.0% 2.8% 2.54%
2015-11-17 02:30 AM Q3 2.8% 2.54%


Thai Economy Slows in Q2


Thailand’s GDP expanded by 2.8 percent from a year earlier in the second quarter of 2015, slowing from 3.0 percent reported in January to March period but in line with market forecasts. While government spending surged, private consumption and investment slowed.

On the expenditure side, government expenditure expanded 4.6 percent, accelerating from a 3.3 percent increase, as compensation of employees increased 2.0 percent while consumption of fixed capital grew by 6.3 percent. Purchases of goods and services decelerated and social transfers in kind rose. Private consumption rose 1.5 percent year-on-year, moderating from a 2.4 percent growth in the previous quarter, as spending in durables declined while those in semi-durables and nondurables increased. Gross fixed capital formation expanded by 2.5 percent, slowing from a 10.7 percent growth in the March quarter, mainly due to a 3.4 percent decline in private investment as investment in machinery dropped. Public investment grew 24.7 percent, slowing from an a 37.8 percent expansion in the previous quarter, as investment in construction slowed and investment in equipment and machinery was flat.

Exports of goods and services grew 1.0 percent, the same as in the preceding quarter. Imports decreased by 0.3 percent, following a 4.0 percent growth in January to March quarter. 

On the production side, the non-agricultural sector expanded by 3.5 percent, as compared to a 4.1 percent growth in the first quarter of 2015. Growth was seen for: hotels and restaurants (+18.7 percent from +13.5 percent); construction (+17.3 percent from +25.4 percent); electricity, gas and water supply (+2.7 percent from +3.8 percent); transport, storage and communication (+8.6 percent from +7.1 percent); wholesale, retail trade and repairing (+3.7 percent from +7.1 percent); financial meditation (+8.6 percent from +9.6 percent); real estate, renting and business services (+2.5 percent from +2.8 percent) and  other community, social and personal service (+6.3 percent from +4.9 percent). In contrast, a contraction was seen for: mining and quarrying (-3.9 percent from -1.0 percent) and manufacturing sector (-0.7 percent from a 2.3 percent). The agricultural sector declined by 5.9 percent, compared to a 4.7 percent fall in the preceding quarter, as yield of major crops fall. Fishery also dropped by 1.6 percent, mainly due to a decline in fish volumes while production of shrimp increased.

On a quarter-over-quarter seasonally adjusted basis, the GDP increased 0.4 percent, acclerating from a 0.3 percent expansion in the previous period.

During the first half of 2015, the economy grew by 2.9 percent, as compared to a 2.8 percent expansion in the previous year. Growth was mainly driven by gross fixed capital formation (+6.4 percent from a 2.5 percent expansion in 2014) and private consumption (+2.0 percent from  +1.5 percent). Government consumption expanded 4.0 percent , slowing from a 4.6 percent growth. Exports grew 1.0 percent, remaining steady from the preceding year and imports declined by 1.9 percent, after registering a 0.2 percent in 2014.

For 2015, the Thailand's economic planning agency (NESDB) projected GDP growth to be between 2.7 percent to 3.2 percent, from an earlier estimates of  3.0 percent to 4.0 percent. 

NESDB l Rida Husna l rida@tradingeconomics.com
8/17/2015 11:28:16 AM


Recent Releases

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.
Published on 2015-05-18

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 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


Thailand GDP Last Previous Highest Lowest Unit
GDP 373.80 387.25 387.25 2.76 USD Billion [+]
GDP Growth Rate 0.40 0.30 9.60 -6.30 percent [+]
GDP Annual Growth Rate 2.80 3.00 19.10 -13.90 percent [+]
GDP Constant Prices 2358627.00 2350069.00 2358627.00 1043930.00 THB Million [+]
Gross National Product 4839.07 4693.46 4839.07 910.68 THB Billion [+]
GDP per capita 3451.33 3437.84 3451.33 358.92 USD [+]
Gross Fixed Capital Formation 573944.00 596241.00 713853.00 18375.42 THB Million [+]
GDP per capita PPP 13986.50 13931.81 13986.50 6368.78 USD [+]
GDP From Agriculture 124394.00 124713.00 132548.00 66849.00 THB Million [+]
GDP From Construction 67976.00 67253.00 103692.00 36619.00 THB Million [+]
GDP From Manufacturing 650149.00 664402.00 674543.00 269359.00 THB Million [+]
GDP From Mining 56639.00 58326.00 61357.00 20064.00 THB Million [+]
GDP From Public Administration 130584.00 127002.00 130584.00 41767.00 THB Million [+]
GDP From Transport 240985.00 234608.00 240985.00 64995.00 THB Million [+]
GDP From Utilities 77740.00 74264.00 77740.00 22202.00 THB Million [+]


GDP Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.00 Jun/15 2.50 9.00 -3.40 percent [+]
Brazil -2.60 Jun/15 -1.60 10.10 -3.15 percent [+]
Canada 1.00 Jun/15 2.00 8.80 -3.90 percent [+]
China 7.00 Jun/15 7.00 14.20 3.80 percent [+]
Euro Area 1.20 Jun/15 1.00 5.00 -5.60 percent [+]
France 1.00 Jun/15 0.82 12.50 -3.95 percent [+]
Germany 1.60 Jun/15 1.20 6.00 -7.90 percent [+]
India 7.00 Jun/15 7.50 11.40 -5.20 percent [+]
Indonesia 4.67 Jun/15 4.71 7.16 1.56 percent [+]
Italy 0.70 Jun/15 0.20 10.30 -7.20 percent [+]
Japan 0.70 Jun/15 -1.00 9.40 -9.40 percent [+]
Mexico 2.20 Jun/15 2.50 8.50 -8.10 percent [+]
Netherlands 1.60 Jun/15 2.50 5.80 -4.40 percent [+]
Russia -4.60 Jun/15 -2.20 12.10 -11.20 percent [+]
South Korea 2.20 Jun/15 2.50 18.20 -7.30 percent [+]
Spain 3.10 Jun/15 2.70 5.60 -4.30 percent [+]
Switzerland 1.20 Jun/15 1.20 5.40 -3.60 percent [+]
Turkey 2.30 Mar/15 2.60 12.60 -14.70 percent [+]
United Kingdom 2.60 Jun/15 2.90 9.80 -5.80 percent [+]
United States 2.70 Jun/15 2.90 13.40 -4.10 percent [+]