Thailand GDP Annual Growth Rate

Last Release

Mar 31, 2025

Actual

3.1

Units In

3.2

Frequency

Quarterly

Next Release

Aug 18, 2025

Time to Release

2 Months 6 Days 17 Hours

Highest	Lowest	Average	Date Range	Source
15.5 Dec 2012	-12.5 Jun 1998	3.17 %	1994-2025	N/A

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, defense and social security (4.5 percent of GDP). Agriculture also makes a significant contribution - around 13 percent of GDP.

Latest Updates

The World Bank has revised its forecast for Thailand’s economic growth in 2025 to 1.8%, a sharp downgrade from the 2.9% projected in January. In its semi-annual Global Economic Prospects report, the World Bank cited higher tariffs and heightened uncertainty as significant headwinds to growth. This follows similar downward revisions by the IMF in April. The World Bank expects Thailand’s GDP growth to slow further in 2026, reaching just 1.7%. Last month, Thailand’s National Economic and Social Development Council also cut its 2025 growth forecast to a range of 1.3% to 2.3%, down from an earlier range of 2.3% to 3.3%. It lowered its export growth forecast as well, to 1.8% from 3.5%, largely due to the impact of US tariffs. In 2024, the Thai economy grew by 2.5%, slightly below the official target of 2.7%.