This chart displays Economic Growth (GDP, annual variation in %) for Thailand from 2013 to 2022. FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Merchandise exports declined 4.6% in annual terms in May (April: -7.6% year-on-year). Thailand Construction Market Analysis by Sectors, 2022 (%), For more Thailand construction market sector insights, download a free report sample. Business Solutions including all features. Interested in economic reports, analysis and data? 2021 Bank of Ayudhya Public Company Limited. Standard users can export data in a easy to use web interface or using an excel add-in. Gross domestic product (GDP) growth rate in China 2012-2028, To download this statistic in XLS format you need a Statista Account, To download this statistic in PNG format you need a Statista Account, To download this statistic in PDF format you need a Statista Account. Chinese tourists, who accounted for a third of all international tourists before the pandemic, are expected to be permitted to travel overseas at the end of this year, as Beijing strictly adheres to its Zero-Covid policy. Evaluate competitive risk and success factors. This helps us to improve the way our website works, for example, by ensuring that users are finding what they are looking for easily and to help us understand what interests our users, and measure how effective our advertising is; In the first quarter of 2022, the value of gross domestic product (GDP) in Thailand amounted to around 4.3 trillion Thai baht, which was an increase from the Karnchang Pcl, China Railway Construction Corp Ltd, China Railway Engineering Group Company Ltd, Charoen Pokphand Group Co Ltd, PCL Construction, Sino-Thai Engineering & Construction Public Co Ltd, Unique Engineering and Construction Public Co Ltd, BTS Group Holdings Public Co Ltd, and Nawarat Patanakarn Public Co Ltd. Italian-Thai Development PCL led the market. WebThe Office of the National Economic and Social Development Council (NESDC) announced the Thai Gross Domestic Product (GDP) in the fourth quarter of 2021 and the economic These include exports and digital business and their supply chains. (May 2017) This is a list of countries by gross domestic product (GDP) sector composition . Access essential information in the shortest possible time. Exports of goods and services rebounded, growing 3.0% in Q1 (Q4 2022: -0.7% yoy), supported by an ongoing recovery in the tourism sector. The Thailand construction market research report provides detailed market analysis, information, and insights into the Thai construction industry, including the growth prospects of the industry by market, project type, and construction activity. Show sources information Report Code: GDCN1078MR. BANGKOK, December 14, 2022 Thailands economy is projected to recover to its pre-pandemic level in 2022, but the pace of growth will be slower-than-expected in WebFull year GDP growth in Thailand increased 2.6 percent in 2022, compared to a downwardly revised 1.5 percent in 2021, the most since 2018, manily boosted by a recovery in tourism GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers. Thailand's economy is expected to grow 3.0% to 3.5% this year, a slight improvement from a previous forecast of 2.75% to 3.5%, helped by a pickup in the vital These cookies may be placed by the bank or third-party service providers. 03925319, Komatsu Ltd. - Digital Transformation Strategies, Caterpillar Inc. - Digital Transformation Strategies, South Korea Construction Market Size, Trend Analysis by Sector (Commercial,, Commercial Construction, Industrial Construction, Infrastructure Construction, Energy and Utilities Construction, Institutional Construction, and Residential Construction, Italian-Thai Development PCL, CH. Commenting on the release, Sanjay Mathur and Krystal Tan, economists at ANZ, stated: The Thailand construction market size was $24.2 billion in 2022. We project the Thai economy would expand by 3.2% in 2022. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. The report provides a range of recommendations to support the circular economy in Thailand. Business Intelligence & Marketing Manager, SAL Heavy Lift, Market Analyst & Management, Liebherr-Werk, Marketing Intelligence Manager, Portugal Foods, GlobalData Plc 2023 | Registered Office: John Carpenter House, John Carpenter Street, London, EC4Y 0AN, UK | Registered in England No. This field is for validation purposes and should be left unchanged. List of countries by GDP sector composition. The GDP of The financial system remains stable overall, though risks associated with increased levels of corporate and household debt persist. This will continue to adversely affect SMEs as well as over 400,000 workers in the tourism-related sector. Nominal GDP sector composition (2005 constant prices), World Development Indicators: Contribution of natural resources to gross domestic product, "The World Factbook - Central Intelligence Agency", "Nigerian Gross Domestic Product Report Q2 2015", "The World Factbook - GDP (purchasing power parity)", "The World Factbook - GDP - composition, by sector of origin", "A closer look at Nigeria's GDP rebasing". Moreover, Thailand has an abundant and diverse supply of agricultural raw materials to produce bio-products. World Thailands GDP growth in 2022 expected at 3% The Siam Commercial Bank (SCB)s Economic Intelligence Centre (EIC) has readjusted up its projection for Thailands GDP growth at 3% this year and 3.7% in 2023, thanks to the recovery of tourism and private consumption. BANGKOK, Oct 5 (Reuters) - Thailand's economy is expected to grow 3.0% to 3.5% this year, a slight improvement from a previous forecast of 2.75% to 3.5%, helped by a pickup in the vital tourism sector, a leading joint business group said on Wednesday. Growth in 2023 has been revised down by 0.7 percentage point compared to earlier projections reflecting Web2022 Recap: Thailands economy has been recovering since mid-2022 full reopening but high inflation is a concern var. 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Make the best decisions about the future of your business with the most reliable economic intelligence. Current job openings: Download historical data for 20 million indicators using your browser. Thailand GDP From Construction Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. For example, remember your preferences i.e., language, region, browsing font size; count the number and source of visitors / users who visit website to know how visitors / users interact with which web pages that the most popular or least popular by collecting and reporting your anonymous information to help us develop and provide you with a better website experience. You need at least a Starter Account to use this feature. Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. In 2022, the GDP growth for several segments from the agricultural sector in Thailand varied. Thai economy posts fastest growth in a year, global risks This growth rate, however, still does not put the Thai economy back to its value in 2019. Every customers requirement is unique. Sources of foreign direct investment (FDI) are due to the relocation of Chinese and non-Chinese firms from China, particularly in the automotive and parts, electronics, and platform and digital information cloud services industries. Vietnam, Thailand boost locality-to-locality cooperation, Thailand expects to become logistics hub in ASEAN, Thailand sees positive signs in economic recovery, Thailand aims for higher rice export target, Send-off ceremony for female footballers to 2023 FIFA World Cup, Vietnamese culture shines in French locality, Party chief chairs Central Military Commissions session, Party delegation pays working visit to Switzerland, PM hails militarys performance in defence, economic development, Head of Government delegation for int'l economic trade negotiations appointed, No more power shortage in northern region: Official, Blue economy has potential to become ASEAN's new growth engine: Indonesian official, So Paulo Forum declares Cuba Universal Heritage of Dignity, German media: amendments to Vietnam's immigration law to help tourism bound back. all employees of a single company, reportstore@globaldata.comTel +44 (0) 20 7947 2960. Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. var. Use Ask Statista Research Service. If you continue to use this site we will assume that you are happy with it. Thailand The market is projected to achieve an AAGR of more than 4% during 2024-2027. WebOne study (Jiang and Xie, 2022) showed when the cost increased to its upper limit, the ICER was higher than one-time GDP but lower than three-time GDP. Chart. WebThe Office of the National Economic and Social Development Council (NESDC) announced the Thai Gross Domestic Product (GDP) in the third quarter of 2022 and the economic projection for 2022 2023 as follows: The Thai Economy in Q3/2022 Please help update this article to reflect recent events or newly available information. These have had a positive trickle-down effect on their domestic supply chains. Indeed, investment from local and foreign companies has gradually rebounded since the first quarter of 2021. Theres still room to borrow another 1 trillion baht this year, if needed, as the government has raised its public debt to GDP ratio to 70%. International Monetary Fund, World Economic Outlook Database, April 2012: Nominal GDP list of countries. Thai Economic Performance in Q4 of 2021 and the Standard users can export data in a easy to use web interface or using an excel add-in. Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. Please create an employee account to be able to mark statistics as favorites. These types of cookies enable the website to perform according to your preferences and to aggregate statistics on how our visitors reach and browse our websites. 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. While the government still has funds to support the economy, it will only do so if there are future outbreaks that affect economic activities and incomes. facts. to incorporate the statistic into your presentation at any time. WebThe Office of the National Economic and Social Development Council (NESDC) announced the Thai Gross Domestic Product (GDP) in the fourth quarter of 2022 and the economic projection for 2023 as follows: The Thai Economy in Q4/2022 GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers., COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. Risks remain skewed to the downside, highlighting the importance of rebuilding fiscal buffers, monitoring financial sector vulnerabilities, and exploring more environmentally sustainable and efficient approaches to economic production. This growth rate, however, still does not put the Thai economy back to its value in 2019. Nominal GDP sector composition, 2015 (in millions of 2005 USD):[5][6] 2005 prices are used similarly to 2010 constant prices in which they provide economic statistics where inflation is accounted for. On the domestic front, private consumption growth fell to 5.4% in Q1, marking the weakest expansion since Q1 2022 (Q4 2022: +5.6% yoy) but remaining robust nonetheless. * Preliminary based on annual figures. May 18, 2022. Attribution-NonCommercial-ShareAlike 4.0 International Site by: Vai Vai Soft. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Industrial construction: The project types in this sector include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants. In addition, imports of goods and services fell at a slower pace of 1.0% in Q1 (Q4 2022: -4.8% yoy). Directly accessible data for 170 industries from 150+ countries The leading contractors in the Thailand construction market are Italian-Thai Development PCL, CH. WebGDP from Construction in Thailand increased to 77407 THB Million in the first quarter of 2023 from 61357 THB Million in the fourth quarter of 2022. The figure marked the best reading since Inflation fell to 0.5% in May below Aprils 2.7%. Thailand: economic structure by sector 2023 | Statista Private investment will continue to rise this year with expected recovery in both domestic and external demand. The number is expected to rise to 3-4 million this year, compared to nearly 40 million in 2019. %) Economic Growth in Thailand Activity gathers momentum in Q1 amid a recovering tourism industry GDP growth accelerated to 2.7% year on year in the first quarter, from 1.4% in the fourth quarter of last year. This is a list of countries by gross domestic product (GDP) sector composition. Prime Minister Pham Minh Chinh, who is also a Politburo member, attended the political-military conference of the army in Hanoi on July 5, during which he praised the forces important contributions in both defence activities and socio-economic development. Growth in the sector will be supported by the governments one million housing scheme and rising residential demand amid rising urbanization between 2024 and 2027. Economic By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this. The GlobalData platform is our go-to tool for intelligence services. Export sector was a major driver of the economy in 2022 buoyed by the easing Covid-19 pandemic and resulting surge in demand. Thailand Economic 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. The government has issued royal decrees since 2020 to borrow 1.5 trillion baht to support the economy, of which it has spent 1.2 trillion, mostly on cash transfers to affected groups. TDRI: Thailand Development Research Institute. The leading consultants in the Thailand construction market are MHPM Co Ltd, Epsilon Co Ltd, MAA Group Consulting Engineers, Chotichinda Mouchel Consultants Ltd, Asian Engineering Consultants Corp, Ltd (AEC), National Economic and Social Development Board (NESDB), WSP Global Inc, Southeast Asia Technology Co Ltd, AECOM, and Team Consulting Engineering and Management Public Co Ltd. MHPM Co Ltd led the market. WebThe economy is projected to expand by 3.4% in 2022 and 3.6% in 2023. WebKey findings Thailands GDP growth has picked up modestly since the surge in COVID-19 cases last year, but economic activity remained below pre-pandemic levels in the first Why are OPEC+ supply cuts failing to boost oil prices? Trading Economics welcomes candidates from around the world. These cookies are necessary for the basic functionality of our website. The fiscal deficit remained substantial at 9.2% of GDP in the first half of fiscal year 2022, and public debt has risen to above 60% of GDP. See here for a complete list of exchanges and delays. Then you can access your favorite statistics via the star in the header. New Covid variants remain a threat. For example, to recognize the visitors for display page which you are interesting for the next visit / usage. The Trading Economics Application Programming Interface (API) provides direct access to our data. The number of foreign tourists is expected at 9 to 10 million this year, according to the group, which has representatives drawn from industry, banking and commerce. Thai business group revises 2022 GDP growth outlook to 3.0-3.5% Thai Economic Performance in Q2 of 2022 and the Outlook for 2023 Data - 2024 Forecast - 1993-2022 Historical, Thailand Inflation Rate Lowest in Near 2 Years, Thailand Manufacturing PMI Falls to 3-Month Low, Thailand Private Investment Rebounds in May, Thailand Personal Spending Rises the Most in Over a Year, Thailand Industrial Output Drops Less than Expected, Thailand Imports Drop Less than Estimated, South Africa 10-Year Bond Yield Hovers Around 7-Week Low, Ireland Unemployment Stays at All-Time Low, US Logistics Sector Contracts for 2nd Month, Ghana Private Sector Growth Slows in June, Eurozone Producer Prices Fall for 4th Month, Eurozone Producer Prices Fall for 1st Time in 2 Years. For example, keep tracking of what page you are on, browsing web pages, from what account you are accessing our website or giving visitors / website users a login and access to parts of the website that are reserved for members only. The value of the Thai economy or its gross domestic product (GDP) is forecast to reach its 2019 level in 2023. We have a plan for your needs. Manufacturing sector in Thailand + Share of manufactured good exports Thailand 2023, by product + Economy + Electronics + Statista Accounts: Access All Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Get quick analyses with our professional research service. Exports were the main driver of Thailands growth last year, increasing by almost 15%, and they are expected to grow again this year albeit at a slower rate, perhaps 10% at best.