World Bank trims Thai growth to 3.4% in 2023, 3.5% 2024

Thailand’s economic growth forecast for 2023 has been revised down to 3.4% from 3.6%, and for 2024 it has been reduced to 3.5% from 3.7%

Bank of Thailand lowers 2023 GDP forecast from 3.6% to 2.8%

The Thai economy is recovering, although at a slower pace due to weak external demand.

ADB predicts 4.6% growth in Southeast Asia but warns of increasing risks

The growth forecast for Thailand has been revised upward from 3.3% to 3.5% for the year 2023, and it is expected to remain at 3.7% for the year 2024.

Thailand’s Growth Revised Down Amid Disappointing Recovery

Tight credit conditions, elevated household debt, and higher interest rates will weigh on domestic activity and consumption in Thailand, hindering economic growth.

Q2 GDP growth lower than expected at 1.8%.

The Thai economy grew slower than expected in the second quarter, with weaker exports offset by strength in tourism.

Thai Finance Ministry lowers growth outlook for 2023 to 3.5%

The Thai Finance Ministry has revised its economic growth outlook for 2023 to 3.5% from 3.6% due to weaker global demand for exports.

World Bank raises Thailand growth forecast to 3.9%

Thailand also faces structural headwinds including an aging population, climate pressures, declining export competitiveness, and high household debt.