NESDC Upgrades 2025 GDP Growth Forecast to 2%

BANGKOK, Aug 19 (TNA) - Thailand's National Economic and Social Development Council (NESDC) has upgraded its gross domestic product (GDP) growth forecast for 2025, now projecting a 2% expansion.

The NESDC pointed to continued expansion in exports, private investment, and industrial production as key drivers.

NESDC Secretary-General Danucha Pichayanan stated that while the Q2 growth of 2.8% was a slowdown from the 3.2% recorded in the first quarter of 2025, the overall economic outlook remains positive. 

The Q2 moderation was primarily attributed to a slowdown in the non-agricultural sector, particularly service industries related to tourism. Agricultural production, however, continued to expand.

For the first half of 2025, the Thai economy grew by 3%. The NESDC anticipates strong growth to continue in the third quarter, though at a slightly slower pace than the first two quarters.

Pichayanan also commented on the situation at the Thai-Cambodian border, stating that it has no significant impact on the overall Thai economy, as the area is not a major production hub. 

However, he acknowledged that it could affect border trade, small-scale businesses, and industrial workers, as some Cambodian laborers have returned home. The Ministry of Labour is able to source replacement workers from other countries. - 819 (TNA)