Thailand’s economy expanded by 1.2% year-on-year in the third quarter of 2025, falling short of the 1.6% median growth predicted by analysts in a Reuters survey, according to official figures released Monday.
On a seasonally adjusted quarter-on-quarter basis, GDP contracted 0.6% from the previous three months, compared to analysts’ projection of a 0.3% decline, data from the National Economic and Social Development Council (NESDC) showed.
Meanwhile, the country’s unemployment rate edged down to 0.76% in Q3, from a revised 0.88% in the preceding quarter, according to the state planning agency. Despite this improvement in the jobless rate, employment fell by 0.5% year-on-year during the July-September quarter, following a marginal 0.02% annual increase in the previous period, the NESDC said in a statement.
Looking ahead, the planning agency forecasts that Thailand will welcome 33 million foreign tourists in 2025—a view unchanged from its earlier estimate in August. For 2026, the agency expects tourist arrivals to rise to 35 million. Both forecasts remain well below the record high of nearly 40 million arrivals pre-covid outbreak.
Projections for Thai exports have also shifted. Exports are now expected to grow 11.2% in 2025, up from the 5.5% forecast in August. However, for 2026, the agency anticipates a slight decline of 0.3% in exports.
