Bangkok: The Thai economy is showing signs of improvement, with a GDP growth rate of 2.8% in the second quarter of 2025. The National Economic and Social Development Board (NESDB) has indicated its readiness to adjust its 2025 GDP forecast upwards to a range of 1.8-2.3%.
According to Thai News Agency, Mr. Jirayu Huangsap, spokesman for the Prime Minister's Office, disclosed that the National Economic and Social Development Council (NESDC) reported a 2.8% expansion in the Thai economy during the second quarter of 2025. The overall outlook for the first half of the year is 3.0%. The NESDC has revised its annual GDP growth forecast upwards, reflecting the global economic recovery and sustained export growth anticipated in the second half of the year.
Economic indicators reveal a mixed picture of stability. The unemployment rate stood at 0.91%, slightly higher than the previous quarter but lower than the same period last year. Headline inflation was recorded at -0.3%, marking the first negative rate in five quarters, while core inflation averaged 1.0%. The current account balance showed a surplus of US$0.6 billion, with international reserves at US$262.4 billion and public debt reaching 12.07 trillion baht, or 64.2% of GDP, as of June 2025.
The second half of the year is expected to benefit from increased government investment, ongoing domestic consumption growth, and a rebound in private investment, notably in machinery and vehicles. The tourism sector, while experiencing a decline in short-haul tourists, saw 19.3 million visitors in the first seven months of the year, a 6.4% decrease from the previous year. Despite this, foreign tourist revenue is projected to rise by 4.7% to 1.57 trillion baht, driven by higher per capita spending among long-haul tourists.
Mr. Jirayu emphasized the government's preparedness with economic tools for stimulus, relief, and recovery, including expediting disbursements and adjusting the policy interest rate. These measures are expected to mitigate the impacts of international fiscal policies and boost economic activity in Thailand for the rest of the year.