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Thai Economy Picks Up in September but Slows Over Q3

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Picture courtesy of TNR

 

Thailand’s economy showed signs of improvement in September 2025, driven by stronger exports, increased manufacturing activity and rising foreign tourism receipts, the Bank of Thailand (BoT) reported. However, economic growth weakened overall during the July–September quarter as domestic demand softened and manufacturing output declined in some sectors.

 

According to the BoT, exports, a key economic driver, surged 19.2% year-on-year in September, while imports rose 18%, producing a trade surplus of USD 3.6 billion. The number of international visitors also climbed, particularly from Malaysia and India, thanks to long holidays and new flight routes. The current account recorded a surplus of USD 1.9 billion for the month.

 

Despite the monthly rebound, the central bank noted that third-quarter performance was weaker than the previous quarter, largely due to temporary production halts in certain manufacturing lines and reduced domestic consumption and investment. “Economic activity softened overall during the quarter,” the BoT said, adding that the pace of recovery remains uneven.

 

The central bank highlighted several risks to monitor going forward, including the recovery in manufacturing output, the impact of US tariff measures on Thai exports, developments in tourism and the effect of government stimulus efforts on household spending. The BoT forecast third-quarter GDP growth at 1.5% year-on-year, but a 0.5% contraction compared with the previous quarter. Official GDP figures are scheduled for release on 17 November.

 

For the full year 2025, the BoT projects growth of 2.2%, slowing to 1.6% in 2026. Thailand’s economy, Southeast Asia’s second largest, expanded 2.5% in 2024, lagging behind regional peers. The central bank maintained its policy rate at 1.50%, though Governor Vitai Ratanakorn said a rate cut could be considered if inflation and growth weaken further. The next monetary policy review is set for 17 December.

 

Meanwhile, the Ministry of Finance raised its 2025 GDP forecast to 2.4% from 2.2%, with growth next year expected at around 2%. Analysts said the revision reflects optimism about the government’s THB 44 billion consumer subsidy programme and other measures designed to support domestic spending amid high household debt and global trade challenges.

 

Key Takeaways

 

• Exports rose 19.2% in September, helping the economy post a USD 3.6 billion trade surplus.

• The Bank of Thailand expects slower third-quarter growth amid weaker domestic demand.

• The 2025 GDP outlook was revised up to 2.4% as stimulus measures take effect.

 

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image.png  Adapted  by  Asean  Now from Thainewsroom 2025-11-02

 

 

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  • Popular Post

Mainly because the too expensive THB...and the political situation which is and stay unstable even after the elections next year  and several outdated Thai laws which are too conservative....It probably keeps tourists away, and of course the anti foreigner segment that makes that foreigners are not welcome in this country

 

On 11/2/2025 at 5:31 AM, Georgealbert said:

Thailand’s economy showed signs of improvement in September 2025, driven by stronger exports, increased manufacturing activity and rising foreign tourism receipts, the Bank of Thailand (BoT) reported. However, economic growth weakened overall during the July–September quarter as domestic demand softened and manufacturing output declined in some sectors.

So no real improvement, just a blip

Post breaking forum rules removed.

 

@Geoff914 rule 17.News articles are collected from recognised sources and may be consolidated or rewritten with AI assistance. Respectful discussion of the article content is welcome. Disrespectful comments about the articles, the use of AI, or the news team (e.g. “clickbait,” “slow news day,” mocking grammar, or AI taunts) are not permitted. Posts breaching this rule will be removed, and posting suspension or account closure may result. If you see an error in an article, please use the report function.

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