Thailand’s economy likely experienced slower growth in Q1 2025 due to muted private investment, softer household spending, and a decline in Chinese tourist arrivals, according to a Reuters poll of 20 economists. The Southeast Asian nation is projected to grow 2.9% year-on-year for the January–March period, down from 3.2% in Q4 2024. Forecasts ranged from 2.2% to 3.8%.
On a quarter-over-quarter basis, GDP is expected to grow a seasonally adjusted 0.6%, slightly above the 0.4% gain in the previous quarter. Despite the drag from investment—down 1.6% in 2024—exports have remained a key growth driver, thanks to a rush to ship goods ahead of possible U.S. tariffs. Private consumption has also continued to grow steadily.
According to the Bank of Thailand, subdued domestic demand and weaker Chinese tourism were offset by stronger exports and increased government spending. The central bank recently cut its policy rate by 25 basis points for a second consecutive time to boost the economy.
Markets strategist Poon Panichpibool from Krung Thai Bank noted that low business confidence continues to weigh on investment. Meanwhile, Thailand faces potential U.S. tariffs of up to 36%, although officials are optimistic about negotiating a trade deal that would standardize tariffs at around 10%, similar to Vietnam’s terms.
Economists are also tempering their outlooks, with April’s survey lowering Thailand’s 2025 growth forecast to 2.1%, down from 2.9% in January. This remains slightly above the Bank of Thailand’s 2.0% and the IMF’s 1.8% projections.
Thailand’s official Q1 GDP figures will be released on May 19.


Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks
Asian Currencies Trade Sideways as Dollar Stabilizes, Yen Weakens Ahead of Japan Election
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm
India Services Sector Rebounds in January as New Business Gains Momentum: HSBC PMI Shows Growth
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility
Australia’s Corporate Regulator Urges Pension Funds to Boost Technology Investment as Industry Grows
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 



