Thailand's economy advanced 6.5% quarter-on-quarter in the three months to September 2020, compared with market expectations of a 3.8% growth and after a record 9.9% slump in the prior quarter. This was the first quarterly expansion following a contraction in the prior three quarters, as the economy recovered from the COVID-19 shocks. Household consumption rebounded sharply (7.3% vs -8% in Q2), fixed investment rose for the first time in three quarters (6.3% vs -2%), and government spending grew further (2.3% vs 2.9%). In addition, net external demand contributed positively, as exports (6.8% vs -21.8%) expanded more than imports (2.1% vs -21.5%). On the production side, nonagricultural output rose for the first time in three quarters (7.1% vs -11.2%), due to a rebound in both the industrial sector (-8.6% vs -12.1%) and services (6.3% vs -10.8%); while agricultural activity slowed (2% vs 5.6%). source: Nesdb, Thailand
GDP Growth Rate in Thailand averaged 0.84 percent from 1993 until 2020, reaching an all time high of 9.40 percent in the first quarter of 2012 and a record low of -9.90 percent in the second quarter of 2020. This page provides - Thailand GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Thailand GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
GDP Growth Rate in Thailand is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Thailand to stand at 0.30 in 12 months time. In the long-term, the Thailand GDP Growth Rate is projected to trend around 1.50 percent in 2021, according to our econometric models.