Thailand’s GDP Hits Lowest Level Since 2024
(MENAFN) Thailand’s economy grew 2.8% in the second quarter of 2025 compared to a year earlier, as reported by the National Economic and Social Development Council (NESDC) on Monday. The expansion was supported by sustained export activity and a recovery in private investment.
However, the pace of growth decelerated from a revised 3.2% increase in the first quarter, marking the slowest year-on-year rise since Q2 of 2024.
Quarter-on-quarter, GDP climbed by a seasonally adjusted 0.6%, easing from a 0.7% increase in the prior three-month period. This marks the sixth consecutive quarter of growth, according to the NESDC.
In the first half of 2025, the Thai economy expanded by 3%.
The full-year outlook has been adjusted slightly, with GDP now expected to rise between 1.8% and 2.3%, a narrower range than the earlier 1.3%–2.3% projection. This would represent a slowdown from the 2.5% growth posted in 2024, NESDC Secretary-General Danucha Pichayanan said during a news conference.
Danucha cautioned that Thailand faces increasing economic headwinds in the months ahead. A projected drop in merchandise exports during the second half of the year—linked to new U.S. tariff measures—is likely to dampen growth and strain the manufacturing sector, already under pressure from a sluggish tourism recovery.
He also pointed to additional downside risks that could further hinder the country's economic performance, including elevated household and corporate debt levels, fluctuations in agricultural prices and yields, and ongoing uncertainty in global trade and economic conditions.
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