Thailand GDP Growth Rate

Last Release

Mar 31, 2025

Actual

0.7

Units In

0.4

Frequency

Quarterly

Next Release

Aug 18, 2025

Time to Release

2 Months 28 Days 2 Hours

Highest	Lowest	Average	Date Range	Source
9.4 Mar 2012	-9.4 Jun 2020	0.81 %	1993-2025	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

Thailand’s economy expanded by 0.7% quarter-on-quarter in Q1 of 2025, slightly above market forecasts of 0.6% and accelerating from a 0.4% rise in Q4 of 2024. This marked the fifth consecutive period of quarterly expansion, primarily driven by private consumption (0.7% v. 0.6% in Q4) and net trade. Exports rose (2.0% vs 3.0%), mainly to the US, signaling anticipated frontloading before the latest US tariffs took effect, while imports declined (-2.4% vs 2.3%) due to weakening domestic demand amid broader economic uncertainty. Meanwhile, both government spending (-1.4% vs -0.2%) and fixed investment (-2.2% vs -2.0%) declined at a faster pace. On the production side, non-agricultural output moderated (0.3% vs 0.4%) as a result of steeper declines in industrial activity (-0.6% vs -0.4%) and subdued growth in services (0.6% vs 1.4%). In contrast, agricultural output increased by 3.4%, up from 1.7% in Q4.