Thailand GDP 2024 +2.5%

According to data released by the Office of the National Economic and Social Development Council, Thailand’s economy expanded by 2.5 per cent in 2024.

In the fourth quarter of 2024, the economy grew by 3.2 per cent year-on-year, marking the strongest expansion since the third quarter of 2022. On a quarterly basis, GDP increased by 0.4 per cent compared to the July-September period.

The growth was primarily driven by a rebound in exports, increased public investment, and stronger private consumption. To further support economic expansion, the Thai government plans to enhance the tourism sector, focusing on both major destinations and secondary cities to attract more visitors.

In its latest outlook, the International Monetary Fund (IMF) estimated Thailand’s GDP growth to reach 3 per cent in 2025.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten member states, with a population of 667 million people and a territory of 4.5 million km². It is currently the third-largest economy in the Asia-Pacific region and the fifth-largest in the world. The ASEAN Economic Community (AEC) had a combined GDP of USD 4.2 trillion in 2024, according to estimates.