Thailand's GDP changed from approximately $33B 421M in 1980 to $548B 890M in 2024, showing an overall 1542.3% sharply increased during the period.
The lowest GDP was recorded in 1980 at $33B 421M, and the highest in 2024 at $548B 890M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 6.6%.
For comparison, the average annual growth rate of Vietnam was 6.0%, and that of Indonesia was 6.3%.
Overview of Thailand's GDP (1980–2024)
The Gross Domestic Product (GDP) of Thailand recorded a 1542.3% sharply increased from 1980 to 2024.
The average GDP during this period was $234B 868M, and the median was $169B 279M.
GDP fluctuated within a range of $515B 468M, with a standard deviation of $172B 581M.
The average annual change was $12B 571M.
Thailand GDP from 1980 to 2024
The total market value of goods and services produced annually in Thailand.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
Highest and Lowest GDP Records
- Lowest GDP: 1980, $33B 421M
- Highest GDP: 2024, $548B 890M
- Most Recent GDP: 2024, $548B 890M
Notable Annual GDP Changes
- 2010: Significant increase in GDP
- 2020: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Thailand's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $543B 977M → $500B 462M
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $262B 942M → $281B 711M
- Outcome: increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $126B 392M → $120B 296M
- Outcome: declined
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $150B 180M → $113B 676M
- Outcome: sharply declined
Key Economic Indicators of Thailand (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 33B 421M | $ 705.48 | $ 1,576.19 | $ 74B 671M | 4.601 % | -6.212 % | 17.72 % | 0 % | 47M 374K people |
1981 | $ 35B 999M | $ 744.91 | $ 1,791.30 | $ 86B 567M | 5.91 % | -7.142 % | 18.29 % | 0 % | 48M 326K people |
1982 | $ 37B 799M | $ 767.41 | $ 1,965.98 | $ 96B 836M | 5.353 % | -2.654 % | 19.73 % | 0 % | 49M 256K people |
1983 | $ 41B 366M | $ 824.45 | $ 2,117.52 | $ 106B 244M | 5.581 % | -6.946 % | 18.17 % | 0 % | 50M 174K people |
1984 | $ 43B 179M | $ 845.08 | $ 2,278.49 | $ 116B 419M | 5.76 % | -4.883 % | 19.24 % | 0 % | 51M 95K people |
1985 | $ 40B 185M | $ 772.39 | $ 2,415.61 | $ 125B 677M | 4.643 % | -3.826 % | 23.52 % | 0 % | 52M 27K people |
1986 | $ 44B 520M | $ 840.32 | $ 2,553.83 | $ 135B 302M | 5.534 % | 0.555 % | 25.60 % | 0 % | 52M 980K people |
1987 | $ 52B 204M | $ 967.71 | $ 2,814.92 | $ 151B 853M | 9.519 % | -0.702 % | 26.28 % | 0 % | 53M 946K people |
1988 | $ 63B 704M | $ 1,160.54 | $ 3,244.56 | $ 178B 99M | 13.288 % | -2.597 % | 28.95 % | 0 % | 54M 892K people |
1989 | $ 74B 637M | $ 1,338.26 | $ 3,723.20 | $ 207B 651M | 12.194 % | -3.347 % | 30.60 % | 0 % | 55M 772K people |
1990 | $ 88B 467M | $ 1,564.17 | $ 4,251.55 | $ 240B 460M | 11.623 % | -8.23 % | 41.54 % | 0 % | 56M 558K people |
1991 | $ 101B 247M | $ 1,769.04 | $ 4,708.55 | $ 269B 482M | 8.403 % | -7.478 % | 34.78 % | 0 % | 57M 232K people |
1992 | $ 115B 576M | $ 1,999.20 | $ 5,207.71 | $ 301B 63M | 9.23 % | -5.454 % | 34.45 % | 0 % | 57M 811K people |
1993 | $ 128B 889M | $ 2,209.36 | $ 5,741.34 | $ 334B 937M | 8.676 % | -4.931 % | 34.90 % | 0 % | 58M 338K people |
1994 | $ 146B 684M | $ 2,491.43 | $ 6,275.07 | $ 369B 447M | 7.997 % | -5.494 % | 35.59 % | 0 % | 58M 875K people |
1995 | $ 169B 279M | $ 2,846.59 | $ 6,857.91 | $ 407B 821M | 8.12 % | -8.023 % | 35.05 % | 0 % | 59M 467K people |
1996 | $ 183B 35M | $ 3,043.98 | $ 7,296.83 | $ 438B 760M | 5.652 % | -8.027 % | 34.69 % | 0 % | 60M 130K people |
1997 | $ 150B 180M | $ 2,468.18 | $ 7,133.28 | $ 434B 36M | -2.754 % | -2.012 % | 32.20 % | 0 % | 60M 847K people |
1998 | $ 113B 676M | $ 1,845.83 | $ 6,582.88 | $ 405B 407M | -7.634 % | 12.529 % | 32.64 % | 0 % | 61M 585K people |
1999 | $ 126B 669M | $ 2,033.26 | $ 6,901.32 | $ 429B 943M | 4.572 % | 9.811 % | 30.02 % | 0 % | 62M 299K people |
