Projections by IMF. Thailand gdp growth rate for 2018 was 4.15%, a 0.08% increase from 2017. GDP per capita ranking 2021. GDP of Thailand increased from 120.3 billion US dollars in 2001 to 509.2 billion US dollars in 2020 growing at an average annual rate of 8.15%. Most American countries use a national income accounting standard that fails to record the informal economy. This rate is 84 -tenths of one percent less than the previous year, when changed 2.3%. In addition, net external demand contributed negatively, as exports fell (-1.4% vs 6.4%) while imports rose further (6.2% vs 4.0%). In 2020, the transport and storage sector contributed approximately 767.28 billion Thai baht to Thailand's GDP. This was the first quarterly expansion following a contraction in the prior three quarters, as the economy recovered from the COVID-19 shocks. As of 2018, Thailand has an average inflation of 1.06% and an account surplus of 7.5% of the country's GDP. Data. Not as bad as the 7.6 percent decline during the Asian financial crisis, but close. Known as Siam until 1939, Thailand is the only Southeast Asian country never to have been colonized by a European power. 2020 GDP outlook downgraded to a 8.1% contraction. GDP Growth Rate in Thailand averaged 0.85 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 -9.40 percent in the second quarter of 2020. Direct access to our calendar releases and historical data. Page last updated on January 27, 2020 Economy - overview: With a relatively well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies, Thailand is highly dependent on international trade, with exports accounting for about two thirds of GDP. Thailand gdp per capita for 2019 was $7,807, a 7.01% increase from 2018. Suttinee Yuvejwattana; Bookmark. GDP of Thailand increased from 30,293.9 million US dollars in 1st quarter 2001 to 130,890 million US dollars in 4th quarter 2020 growing at an average annual rate of 1.95%. In a sense, recent published data always remain preliminary. 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). Thailand gdp per capita for 2018 was $7,295, a 10.66% increase from 2017. October 12, 2020. Agriculture also makes a significant contribution - around 13 percent of GDP. Thailand’s GDP is expected to contract between 3-5% for 2020, and exports by up to 10%. In addition, net external demand contributed positively, as exports (6.8% vs -21.8%) expanded more than imports (2.1% vs -21.5%). Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. © Information Sciences Limited. Projections by IMF. 28 May 2019 Thailand: Manufacturing surprisingly swings back to growth in April. 5 May 2020 Thailand: Steepest price fall since the financial crisis reflects huge drop in demand. Thailand Consumer Sentiment Lowest Since 1999, Thailand Holds Key Rate Amid New Virus Wave, Thailand Consumer Prices Rise the Most in Over 8 Years, Mexico Private Investment Retreats Less than Expected, Malta Industrial Output Shrinks the Least in 4 Months, South Africa Factory Output Growth Tops Estimates, US Small Business Optimism Improves to 5-Month High, Eurozone Investor Morale Strongest since 2000, German Investor Morale at Over 20-Year High. Econ. The Bank of Thailand and the Fiscal Policy Office predict GDP growth of 2.8% this year. In 2020, GDP for Thailand was 509.2 billion US dollars. 2019* 2020E 2021E GDP Growth 2.4 -5.3 3.0 (2.8) Headline Inflation 0.7 -1.0 0.3 (0.8) Core Inflation 0.5 -0.1 0.1 (0.7) * Outturn, EEstimation ( ) Monetary Policy Report, December 2019 The Thai economy would significantly contract due primarily to exports of goods and services, before expanding in 2021 Headline inflation in 2020 and 2021 were The IMF downgraded the economic forecast for Thailand in 2020 to a contraction of 6.7%, making it the worst performer among its Asean peers if the … GDP per capita (current US$) - Thailand from The World Bank: Data. Estimates by world bank since 1960 in nominal terms and since 1990 in ppp terms at current and constant prices. Q4/2020 p Q3/2020 Q2/2020 r Q1/2020 r Q4/2019 r Q3/2019 r; 1: Deposit-Taking Corporations: 12,090,395: 11,893,813: ... Bank of Thailand ... debt to GDP. GDP per Capita in Thailand (with a population of 69,209,810 people) was $6,111 in 2017, an increase of $210 from $5,901 in 2016; this represents a change of 3.6% in GDP … Preparing for risks to Thailand’s economic outlook. Monthly Economic Report (2021) 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. Numbers are Thai baht (real) in 2018. GDP Annual Growth Rate in Thailand averaged 3.39 percent from 1994 until 2020, reaching an all time high of 15.50 percent in the fourth quarter of 2012 and a record low of -12.50 percent in the second quarter of 1998. Thailand cut its estimate for economic growth this year to 2.5-3.5% after suffering its worst slump in more than two decades in 2020 due to the shock from the COVID-19 pandemic. For 2020, the NESDB revised its economic forecast to a contraction of 6% from a decline of 7.3%-7.8% projected in August. 11 June 2019 Malaysia’s April manufacturing signals GDP acceleration in second quarter. In 2021, the economy is anticipated a growth of 2.2% due to subdued export demand and slower-than-expected recovery of foreign tourism. Home World India. The Thai economy is projected to contract by 5% in 2020, which is among the sharpest projected declines in the East Asia and Pacific Region. On the production side, nonagricultural output contracted (-3.1% vs 1.2%), due to declines in both the industrial sector (-1% vs -0.4%) and services (-4% vs 1.8%); while agricultural activity bounced back (0.4% vs -5.8% in Q4). Facts and statistics about the GDP - composition by sector of Thailand. 1993-2020 Data | 2021-2023 Forecast | Calendar | Historical. Thailand´s economy was already showing signs of weakness in 2019, as GDP growth decreased to 2.4%. The Trading Economics Application Programming Interface (API) provides direct access to our data. The contraction of Thailand’s GDP in 2020 was 6.1 percent. All rights reserved. The most unreliable economic data is produced in Argentina which has manipulated inflation and GDP statistics since 2007. Fourth-quarter Thai GDP growth lost the momentum of Q3. Weaker global demand has led to a contraction in global trade, which, in turn, has hit Thailand’s exports and disrupted global value chains, such as automobiles, in which Thailand is an active participant. 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. The quality of economic data across Asia-Pacific region varies considerably across countries, mainly as a result of lack of statistical capacity. Tourism generally accounts for 12% of gross domestic product (GDP) and foreign visitor numbers fell 83% to 6.7 million in 2020, when the economy likely contracted 6.5%, the … Economic growth, percent change in quarterly real GDP in Thailand, Q1 1994 - Q4 2020: The latest data from Q4 2020 show economic growth of -4.2 percent, which is an increase from the rate of growth of -6.4 percent in the previous quarter and a decrease compared to the growth rate of 1.5 percent in the same quarter last year. GDP (PPP) means gross domestic product based on purchasing power parity.This article includes a list of countries by their forecast estimated GDP (PPP). GDP per capita (current US$) - Thailand from The World Bank: Data Economy contracts 6.1% in 2020 due to lack of tourists and exports. Find Out . Thailand GDP shrinks at fastest pace in over 2 decades. ... GDP per capita, PPP (constant 2017 international $) Inflation, GDP deflator (annual %) Oil rents (% of GDP) Download. Thailand’s economy could contract as much as 7,3% in 2020 according to Siam Commercial Bank’s Economic Intelligence Centre (EIC) … GDP Growth Rate in 2017 was 3.91%, representing a change of 15,925,996,640 US$ over 2016, when Real GDP was $407,014,670,810. Missing data, out of date base years, disputed population data and the size of the unrecorded informal economy means that international rankings of countries in terms of GDP and GDP per capita are meaningless. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Thailand GDP: 1,207 trillion International Dollars (2020) Gross Domestic Product (PPP in 2017 prices) Thailand Sees 2020 GDP Drop 7.7%, Better Than Prior Forecast. GDP of Thailand increased from 30,293.9 million US dollars in 1st quarter 2001 to 130,890 million US dollars in 4th quarter 2020 growing at an average annual rate of 1.95%. ... IMF World Economic Outlook (October-2020) Date: 01 Jan 2021: Top Statistics GDP ranking 2021. The central bank in December forecast 3.2% growth this year while some analysts see about 2% growth after … Projections by IMF. {"2006":84573280.25, "2007":89169966.32, "2008":90708771.40, "2009":90082320.09, "2010":96850556.59, "2011":97664229.19, "2012":104737850.28, "2013":107552675.36, "2014":108611450.90, "2015":112015221.86, "2016":115856469.93, "2017":120567484.04, "2018":125571953.46, "2019":128550364.81, "2020":120708792.56, "2021":124847096.12}, [{"1961":137.08, "1962":142.17, "1963":151.27, "1964":171.58, "1965":196.55, "1966":215.24, "1967":226.95, "1968":238.09, "1969":263.17, "1970":271.32, "1971":290.79, "1972":300.89, "1973":288.36, "1974":300.62, "1975":298.75, "1976":297.34, "1977":313.87, "1978":345.50, "1979":366.19, "1980":349.60, "1981":327.95, "1982":315.80, "1983":299.51, "1984":317.13, "1985":328.91, "1986":339.64, "1987":331.20, "1988":364.73, "1989":379.69, "1990":402.08, "1991":436.49, "1992":471.77, "1993":510.70, "1994":551.54, "1995":596.33, "1996":630.04, "1997":612.69, "1998":565.91, "1999":591.79, "2000":618.16, "2001":639.45, "2002":678.77, "2003":727.56, "2004":773.32, "2005":805.71, "2006":845.73, "2007":891.70, "2008":907.09, "2009":900.82, "2010":968.51, "2011":976.64, "2012":1047.38, "2013":1075.53, "2014":1086.11, "2015":1120.15, "2016":1158.56, "2017":1205.67, "2018":1255.72, "2019":1285.50, "2020":1207.09}], {"1972":3.5, "1973":-4.2, "1974":4.3, "1975":-0.6, "1976":-0.5, "1977":5.6, "1978":10.1, "1979":6.0, "1980":-4.5, "1981":-6.2, "1982":-3.7, "1983":-5.2, "1984":5.9, "1985":3.7, "1986":3.3, "1987":-2.5, "1988":10.1, "1989":4.1, "1990":5.9, "1991":8.6, "1992":8.1, "1993":8.3, "1994":8.0, "1995":8.1, "1996":5.7, "1997":-2.8, "1998":-7.6, "1999":4.6, "2000":4.5, "2001":3.4, "2002":6.1, "2003":7.2, "2004":6.3, "2005":4.2, "2006":5.0, "2007":5.4, "2008":1.7, "2009":-0.7, "2010":7.5, "2011":0.8, "2012":7.2, "2013":2.7, "2014":1.0, "2015":3.1, "2016":3.4, "2017":4.1, "2018":4.2, "2019":2.4, "2020":-6.1, "2021":3.4, "2022":3.4, "2023":3.4, "2024":3.4, "2025":3.4, "2026":3.4, "2027":3.4, "2028":3.4, "2029":3.4, "2030":3.4, "2031":3.4, "2032":3.4, "2033":3.4, "2034":3.4, "2035":3.4, "2036":3.4, "2037":3.4, "2038":3.4, "2039":3.4, "2040":3.4, "2041":3.4, "2042":3.4, "2043":3.4, "2044":3.4, "2045":3.4, "2046":3.4, "2047":3.4, "2048":3.4, "2049":3.4, "2050":3.4, "2051":3.4, "2052":3.4, "2053":3.4, "2054":3.4, "2055":3.4, "2056":3.4, "2057":3.4, "2058":3.4, "2059":3.4, "2060":3.4, "2061":3.4, "2062":3.4, "2063":3.4, "2064":3.4, "2065":3.4, "2066":3.4, "2067":3.4, "2068":3.4, "2069":3.4, "2070":3.4, "2071":3.4, "2072":3.4, "2073":3.4, "2074":3.4, "2075":3.4, "2076":3.4, "2077":3.4, "2078":3.4, "2079":3.4, "2080":3.4, "2081":3.4, "2082":3.4, "2083":3.4, "2084":3.4, "2085":3.4, "2086":3.4, "2087":3.4, "2088":3.4, "2089":3.4, "2090":3.4, "2091":3.4, "2092":3.4, "2093":3.4, "2094":3.4, "2095":3.4, "2096":3.4, "2097":3.4, "2098":3.4, "2099":3.4, "2100":3.4}. There is no reason so far, however, to assume Thailand’s 2021 GDP will be any better. Gross Domestic Product of Thailand fell -6.1% in 2020 compared to last year. The GDP value of Thailand represents 0.45 percent of the world economy. GDP Growth and GDP per capita Growth of Thailand. Official 2020 GDP will be released next month. The GDP of Thailand, the Eurozone and the U.S.A. grew strongly during the third quarter (compared to the previous quarter) when the economy took a breather after the first wave of Covid-19 infections. GDP in Thailand averaged 136.20 USD Billion from 1960 until 2019, reaching an all time high of 543.65 USD Billion in 2019 and a record low of 2.76 USD Billion in 1960. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). The Finance Ministry’s Fiscal Policy Office (FPO) produces a series of reports on the Thai economy. GDP per capita of Thailand in nominal and ppp terms. The use of different national income standards across Europe has an impact on cross-country comparability and in some cases leads to an underestimation of GDP. Thailand gdp growth rate for 2017 was 4.07%, a 0.64% increase from 2016. At the same time, government spending grew for the first time in three quarters (2.9% vs -0.2%). Published by Statista Research Department, Mar 26, 2021 In 2020, the accommodation and food services sector contributed approximately 635.35 billion Thai baht to Thailand's GDP. Estimates by world bank since 1960 in nominal terms and since 1990 in ppp terms at current and constant prices. Although there was an improvement seen in the final quarter, Thailand’s GDP in 2020 registered a contraction of 6.1%, the worst since the 7.6% decline in the 1998 Asian Financial Crisis. Information Sciences Limited. 1.3% of GDP (2019) 1.4% of GDP (2018) 1.6% of GDP (2017) 1.6% of GDP (2016) country comparison to the world: 99. 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