Recent Updates

  • Pakistan: BOP (Sep)
  • China Sector: China: Energy Sector Statistics (Sep)
  • China Sector: China: Real Estate Statistics (Sep)
  • China Sector: China: Transportation Statistics (Sep)
  • France: Central Government Debt (Sep), Financing Access Survey (Q3)
  • more updates...

Economy in Brief

Thai GDP Ends 2003 on a  Strong Note
by Louise Curley  March 8, 2004

Thailand's gross domestic product grew 2.65% or at an annual rate of 11.05% in the fourth quarter of 2003, well above consensus estimates. Growth for the whole year was 6.72%, the highest rate in four years.

Private consumption and fixed investment were strong. For the year as a whole, private consumption rose 6.33% and fixed investment rose 11.81%. Although the rise in imports exceeded that of exports, net exports managed to rise 2.04% for the year. Government consumption expenditure rose a modest 1.09%.

The National Economic and Social Development Board is estimating growth in 2004 between 7% and 8%. The Board also estimates that the outbreak of bird flu that has so far killed seven people and forced the government to slaughter some 30 million chickens may reduce growth by 0.4% in the first half of 2004.

Thailand is the second largest economy in south east Asia, after that of Indonesia. In dollar terms, gross domestic product was $143 billion in 2003. With a population of 64 million, per capita GDP was about $2,240.

Percent Change Q4 03 Q303  Q2 03 Q1 03 2003 2002 2001
Gross domestic product 2.65 2.26 0.96 1.76 6.72 5.48 2.06
Private consumption expenditure 3.25 0.32 1.70 1.92 6.33 4.95 3.94
Government consumption expenditure -1.55 -0.32 6.74 5.13 1.09 2.67 2.68
Gross fixed investment 8.88 1.16 5.23 3.41 11.81 6.47 0.98
Exports 2.15 2.85 -3.66 4.94 6.5 11.97 -3.96
Imports 7.61 3.00 -1.55 2.77 7.42 13.49 -5.45
close
large image