Forecast: Contribution to GDP of Construction in Thailand

Based on the data, the construction sector's contribution to Thailand's GDP has been declining gradually from 2.67 in 2013 to 2.53 in 2023. The year-on-year variation over the last two years (2022-2023) shows a decrease of 1.17%. The average annual decrease over the past five years (2019-2023) is reflected in a CAGR of -1.06%, pointing to a steady downturn in the sector’s share of GDP.

Forecasts for the period between 2024 and 2028 predict a continued decline, with the construction sector’s contribution expected to drop to 2.37 by 2028, which corresponds to a total reduction of 5.2% over these five years.

Future trends to watch for include:

• Government and private sector investment initiatives in infrastructure and urban development that could potentially reverse or mitigate the decline.
• The impact of technological advancements and increased emphasis on sustainable construction practices.
• Economic policies and international trade agreements that could influence the overall economic environment and construction sector dynamics in Thailand.