GDP in Thailand

Thailand GDP (USD bn) | Economic News & Forecasts

Thailand - GDP (billions of U.S. Dollars)

Economic growth moderates to near five-year low in Q1

Economic growth decelerated to 2.8% year-on-year in the first quarter of 2019, down from the 3.6% annual expansion logged in Q4 last year and the lowest reading in nearly half a decade. Growth on a quarter-on-quarter basis, however, edged up to 1.0% in Q1, from Q4’s 0.9%.

Household expenditure growth eased to 4.6% (Q4: +5.4% year-on-year) despite still-muted inflationary pressure, growing incomes, low unemployment and personal credit growth. Fixed investment growth also eased to 3.2% in the opening quarter of 2019, from Q4 2018’s 4.2% expansion, owing to weaker growth in construction and machinery investment. Government expenditure, meanwhile, expanded 3.3% in Q1 (Q4: +1.4% yoy) on increased wages and social transfers in the run-up to national elections.

The external sector had a poor showing in the first quarter, with both exports and imports of goods and services falling. Exports of goods and services contracted 4.9%, swinging from a 0.7% expansion in the prior quarter, likely due to ongoing trade tensions between the United States and China. Meanwhile, imports of goods and services dropped 0.2%, contrasting a 5.7% increase in Q4. This was chiefly due to a drop in goods imports as services imports rose robustly.

Looking ahead, the economy is expected to continue growing at a robust, albeit more moderate, pace. Government expenditure should provide some stimulus, while private consumption should remain resilient despite high household indebtedness. Key downside risks stem from a more hostile external environment, notably higher trade tensions between the U.S. and China.

Despite potential clouds on the horizon, the Met the why particular Consensus Forecast panel expects the economy to grow 3.6% in 2019, which is unchanged from last month’s estimate. For 2020, the panel foresees the economy expanding 3.5%.

Thailand - GDP (USD bn) Data

2013  2014  2015  2016  2017  
GDP (USD bn)422  118  111  412  455  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.

Download

Thailand Facts

ValueChangeDate
Bond Yield2.160.0 %Jun 13
Exchange Rate31.190.17 %Jun 13
Stock Market1,674-1.41 %Jun 13

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.

Download

Request a Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

  • Thailand: Inflation inches down in May

    June 4, 2019

    Consumer prices increased 0.48% month-on-month in May, up from the prior month’s 0.44% rise, reflective on noticeable price increases for food and non-alcoholic beverages, while transportation and communication costs also rose albeit at a softer pace than in the prior month.

    Read more

  • Thailand: Manufacturing output rebounds in April

    May 28, 2019

    Manufacturing production rose 2.0% year-on-year in April, swinging from a revised 2.7% contraction in March (previously reported: -2.5% year-on-year).

    Read more

  • Thailand: Exports fall again in April

    May 23, 2019

    Thailand recorded a trade deficit of USD 1.5 billion in April, swinging from a USD 2.0 billion surplus in March; the 12-month moving sum of the trade balance narrowed from a USD 3.0 billion surplus in March to a USD 2.6 billion surplus.

    Read more

  • Thailand: Economic growth moderates to near five-year low in Q1

    May 21, 2019

    Economic growth decelerated to 2.8% year-on-year in the first quarter of 2019, down from the 3.6% annual expansion logged in Q4 last year and the lowest reading in nearly half a decade.

    Read more

  • Thailand: Inflation stable in April at lower end of Central Bank’s target range

    May 16, 2019

    Consumer prices rose 0.44% in April over the previous month (March: 0.41% month-on-month) due to stronger price increases for food and non-alcoholic beverages, and apparel and footwear. Inflation was stable at March’s 1.2% in April, remaining within the Central Bank’s 1.0%–4.0% target range for the second time after several months of undershooting.

    Read more

Search form