Gross domestic product (GDP) growth rate in Thailand 2021

Thailand’s gross domestic product (GDP) grew at a rate of 4.15 percent in 2018.

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: Growth rate of the real gross domestic product (GDP) from 2009 to 2021

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Source

Release date

April 2020

Region

Thailand

Survey time period

2009 to 2018

Supplementary notes

According to the source, due to the high level of uncertainty in current global economic conditions, the IMF projections for these indicators are provided only through 2021.

* Estimate.

Values have been rounded.

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Statistics on "Thailand"

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