Real GDP growth surged to 3.0% year-on-year in Q3, marking the highest rate since Q3 2022, and increased by 1.2% quarter-on-quarter on a seasonally adjusted basis.
Real GDP growth accelerated to 3.0% y-o-y in Q3, the highest since Q3 2022, and rose 1.2% on a seasonally-adjusted q-o-q basis. This robust performance was driven by strong consumer spending and a rebound in business investments. Analysts attribute the growth to easing inflationary pressures and improved labor market conditions, which have bolstered household incomes and confidence.
Key takeaways
- Thailand’s GDP growth accelerated to 3.0% y-o-y in Q3, the fastest since Q3 2022, with a seasonally adjusted quarterly increase of 1.2%, signaling strong economic momentum.
- The initiative enhances financial inclusion by enabling seamless digital transactions, benefiting urban and rural populations, and stimulating consumer spending, particularly for small businesses.
- Thailand’s focus on digital finance positions it as a regional leader, attracting foreign investment and fostering a tech-driven, sustainable economic growth trajectory.
