Thailand BIP Veränderung zum Vorjahr

Thailand’s GDP advanced 3.2% yoy in Q4 of 2024, accelerating from a 3.0% growth in Q3 while marking the strongest yearly rise since Q3 of 2022. However, the latest result was below forecasts of 3.9%. Private consumption rose slightly faster (3.4% vs 3.3% in Q3) amid government stimulus. Also, fixed investment kept its growth momentum (5.1% vs 5.0%) due to the state budget's disbursements. On the trade front, exports (11.5% vs 9.9%) grew faster than imports (8.2% vs 10.3%), adding positively to the GDP. Government spending continued to rise despite its pace slowing (5.4% vs 6.1% in Q3). Production-wise, the non-agriculture gained traction (3.5% vs 3.2%), with faster growth in the service sector (4.7% vs 4.1%), led by construction (18.3%). Further, agriculture output rebounded (1.2% vs -1.0%). For the full year, the economy grew by 2.5%, after an upwardly revised 2.0% rise in 2023, a bit less than the official target of 2.7%. GDP is projected to expand between 2.3% to 3.3% this year.