The Office of the National Economic and Social Development Council (NESDC) announced that Thailand’s Gross Domestic Product (GDP) in 4Q21 expanded 1.9%, compared to a 0.2% decline in 3Q21. The increase was mainly a result of higher consumption demand domestically and internationally, coupled with easing lockdown measures and the reopening to boost the economy. Meanwhile, the GDP for 2021 grew faster-than-expected at 1.6%, compared to a 1.2% growth forecast.
NESDC expected the economy in 2022 to grow 3.5-4.5% from domestic demand, export growth, tourism and government investment.
