GDP

GDP of Thailand in 2023 - Expenditure Approach, Sector Output, and Regional GDP

Last Updated: October 31, 2023
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GDP Summary

“Thailand with a population of had a total GDP value of US dollars (calculated in current US dollars) for the whole of 2022. The GDP per capita is 7070, and the growth rate in 2022 is 2.6%.”

Population

69.626 million

Land Size

510890 km²

GDP

495.42 billion

GDP Per Capita

7070 USD

Real GDP Growth
Note: Real GDP Growth (%) | Forecast after 2023
GDP Per Capital (Nominal)
Note: Current USD | Forecast after 2023
GDP Per Capita (PPP)
Note: PPP | Forecast after 2023

GDP Structure (Expenditure Approach)

The latest GDP update was in October 2023, updating the data on the contribution of GDP output in various sectors for the year 2022, as a proportion of the total GDP. The data is sourced from the World Bank, IMF, and local government statistics. Predictions on the sources of GDP contribution are from the EIU.

Private Consumption
54.5%
Government Expneidutre
17.7%
Capital Formation
23.4%
Export
65.7%
Import
68%
GDP Growth(By Type)
Note: Real GDP Growth (%) | Forecast after 2023

GDP Structure By Sector

The latest GDP update was in October 2023, updating the data on the contribution of GDP output in various sectors for the year 2022, as a proportion of the total GDP. The data is sourced from the World Bank, IMF, and local government statistics. Predictions on the sources of GDP contribution are from the EIU.

Agriculture
6.3%
Industry
34.1%
Manufacturing
26.6%
Service
59.7%
Economic Growth(By Sector)
Note: Real GDP Growth (%) | Forecast after 2023

Economic Development

In the past five years, the main drivers of Thailand’s economy have been private consumption and government spending. The proportion of private consumption in total GDP increased from 48.9% in 2017 to 52.1% in 2021, while government spending grew from 16.3% to 18.2% over the same period. In contrast to consumption, Thailand’s fixed investment proportion remained roughly the same, between 22.5% and 23.5%, while exports declined and imports increased over the same period. Going forward, the main driver of Thailand’s economy is expected to come from increased investment, especially from advanced market FDI, focused on the development of Thailand 4.0 and the corresponding Eastern Economic Corridor policy. This will attract investment from advanced manufacturers and related technology companies. At the same time, Thailand’s infrastructure upgrading plans have also crea...

Unemployment

1.3 %

Inflation

6.1 %

Urbanization

50.7 %

TFR

1.5 人

Unemployment Rate
Unit: %
Inflation Rate
Unit: %