Thailand: Economic growth forecast: The latest value from 2030 is 2.4 percent, an increase from 2.29 percent in 2029. In comparison, the world average is 3.25 percent, based on data from 182 countries. Historically, the average for Thailand from 1980 to 2030 is 4.32 percent. The minimum value, -7.63 percent, was reached in 1998 while the maximum of 13.29 percent was recorded in 1988.

Key information about Thailand Real GDP Growth

• The Gross Domestic Product (GDP) in Thailand expanded 2.7 % YoY in Mar 2023, following a growth of 1.3 % in the previous quarter.
• Real GDP Growth YoY data in Thailand is updated quarterly, available from Mar 1994 to Mar 2023, with an average rate of 3.8 %.
• The data reached an all-time high of 15.3 % in Dec 2012 and a record low of -12.2 % in Jun 1998.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Office of the National Economic and Social Development Council provides Real GDP in local currency, at chain linked 2002 prices.


Related information about Thailand Real GDP Growth

• In the latest reports, Nominal GDP of Thailand reached 132.0 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 2.9 % in Mar 2023.
• GDP Per Capita in Thailand reached 7,497.7 USD in Dec 2022.
• Its Gross Savings Rate was measured at 30.4 % in Mar 2023.
• For Nominal GDP contributions, Investment accounted for 25.3 % in Mar 2023.
• Public Consumption accounted for 15.9 % in Mar 2023.
• Private Consumption accounted for 53.7 % in Mar 2023.

Thailand: Gross Domestic Product, billions of U.S. dollars: The latest value from 2024 is 526.41 billion U.S. dollars, an increase from 515.91 billion U.S. dollars in 2023. In comparison, the world average is 612.35 billion U.S. dollars, based on data from 176 countries. Historically, the average for Thailand from 1960 to 2024 is 164.88 billion U.S. dollars. The minimum value, 2.76 billion U.S. dollars, was reached in 1960 while the maximum of 543.98 billion U.S. dollars was recorded in 2019.

Thailand’s gross domestic product (GDP) grew at a rate of 2.53 percent in 2024. The Thai economy Thailand relies less on agriculture and more on employment in the service sector, which is a sign of a more advanced economy. This development is also apparent in its GDP per capita, which is one of the highest in Southeast Asia. One aspect of a developed economy is that it is more diverse, and thus less exposed to economic shocks. This statistic reflects that robustness in its optimistic view of Thai GDP growth. Domestic factors Thailand has posted an incredibly low unemployment rate for several years, which suggests that the workforce matches the demand for labor remarkably well. Equally important, the inflation rate tends to be low and stable, though sometimes too low. If Thailand wants to realize the positive projections in this statistic, the inflation rate of the baht should be between 2 and 3 percent, according to most economists.

Thailand: Value added in the agricultural sector as percent of GDP: The latest value from 2024 is 8.71 percent, an increase from 8.56 percent in 2023. In comparison, the world average is 9.68 percent, based on data from 151 countries. Historically, the average for Thailand from 1960 to 2024 is 16.79 percent. The minimum value, 8.03 percent, was reached in 1993 while the maximum of 36.44 percent was recorded in 1960.

The Gross Domestic Product (GDP) in Thailand was worth 526.41 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Thailand represents 0.50 percent of the world economy. This dataset provides the latest reported value for - Thailand GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

GDP, billion currency units in Thailand, March, 2025 The most recent value is 4744.03 billion Thai Baht as of Q1 2025, a decline compared to the previous value of 4823.23 billion Thai Baht. Historically, the average for Thailand from Q1 1993 to Q1 2025 is 2574.68 billion Thai Baht. The minimum of 782.21 billion Thai Baht was recorded in Q2 1993, while the maximum of 4823.23 billion Thai Baht was reached in Q4 2024. | TheGlobalEconomy.com

The latest data from show economic growth of 3.1 percent, which is a decrease from the rate of growth of 3.3 percent in the previous quarter and
an increase compared to the growth rate of 1.7 percent in the same quarter last year. The economic growth time series for Thailand cover the period...

Thailand TH: GDP: Growth data was reported at 3.903 % in 2017. This records an increase from the previous number of 3.283 % for 2016. Thailand TH: GDP: Growth data is updated yearly, averaging 5.752 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 13.288 % in 1988 and a record low of -7.634 % in 1998. Thailand TH: GDP: Growth data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Thailand – Table TH.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

In the fourth quarter of 2024, the service sector contributed ** percent to the economy in Thailand, making it the highest contributor compared to other sectors. In contrast, *********** was the sector with the lowest economic contribution.

The Gross Domestic Product (GDP) in Thailand expanded 0.70 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Thailand GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Thailand: Exports of goods and services as percent of GDP: The latest value from 2024 is 70.06 percent, an increase from 65.44 percent in 2023. In comparison, the world average is 44.58 percent, based on data from 134 countries. Historically, the average for Thailand from 1960 to 2024 is 41.2 percent. The minimum value, 15.02 percent, was reached in 1970 while the maximum of 71.42 percent was recorded in 2008.

The gross domestic product (GDP) in current prices in Thailand was about 526.41 billion U.S. dollars in 2024. Between 1980 and 2024, the GDP rose by approximately 492.99 billion U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP will steadily rise by around 114.08 billion U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.This indicator describes the gross domestic product at current prices. The values are based upon the GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). The GDP represents the total value of final goods and services produced during a year.

The Gross Domestic Product (GDP) in Thailand expanded 3.10 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides - Thailand GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Thailand (DC)Leading Economic Index: BOT data was reported at 124.400 1990=100 in Dec 2006. This records a decrease from the previous number of 125.200 1990=100 for Nov 2006. Thailand (DC)Leading Economic Index: BOT data is updated monthly, averaging 120.850 1990=100 from Jan 1993 (Median) to Dec 2006, with 168 observations. The data reached an all-time high of 128.200 1990=100 in May 2004 and a record low of 110.800 1990=100 in Mar 1993. Thailand (DC)Leading Economic Index: BOT data remains active status in CEIC and is reported by Bank of Thailand. The data is categorized under Global Database’s Thailand – Table TH.S001: Business Cycle Indicators: Bank of Thailand. Rebased from 1990=100 to 2000=100. 2. Replacement Series ID: 136479901

Thailand: Financial openness index: The latest value from 2021 is -0.166 index points, unchanged from -0.166 index points in 2020. In comparison, the world average is 0.322 index points, based on data from 176 countries. Historically, the average for Thailand from 1970 to 2021 is -0.394 index points. The minimum value, -1.242 index points, was reached in 2007 while the maximum of -0.166 index points was recorded in 1970.

Consumption as percent of GDP in Thailand, March, 2025 The most recent value is 56.26 percent as of Q1 2025, a decline compared to the previous value of 56.8 percent. Historically, the average for Thailand from Q1 1993 to Q1 2025 is 53.15 percent. The minimum of 46.57 percent was recorded in Q1 2018, while the maximum of 60.85 percent was reached in Q2 2024. | TheGlobalEconomy.com

Thailand: Financial markets development, depth: The latest value from 2021 is 0.746 index points, a decline from 0.763 index points in 2020. In comparison, the world average is 0.255 index points, based on data from 157 countries. Historically, the average for Thailand from 1980 to 2021 is 0.428 index points. The minimum value, 0.139 index points, was reached in 1990 while the maximum of 0.763 index points was recorded in 2020.

Thailand TH: GDP: Growth:(GDP) Gross Domestic Productper Capita data was reported at 3.641 % in 2017. This records an increase from the previous number of 2.974 % for 2016. Thailand TH: GDP: Growth:(GDP) Gross Domestic Productper Capita data is updated yearly, averaging 3.845 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 11.332 % in 1988 and a record low of -8.734 % in 1998. Thailand TH: GDP: Growth:(GDP) Gross Domestic Productper Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Thailand – Table TH.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual percentage growth rate of GDP per capita based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP per capita is gross domestic product divided by midyear population. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

Thailand: GDP per hour worked, index relative to the U.S.: The latest value from is index points, unavailable from index points in . In comparison, the world average is 0.00 index points, based on data from countries. Historically, the average for Thailand from to is index points. The minimum value, index points, was reached in while the maximum of index points was recorded in .