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Thailand Debt to GDP Ratio

Thailand's government debt to GDP reached an all-time high of 63.7% in 2024, up from 61.9% in 2023. This increase stems from higher government borrowing for economic stimulus such as the digital wallet handout and infrastructure projects. The fiscal deficit widened due to normalized budget execution and stimulus spending. Direct government debt is the largest part of this public debt. Thailand's record low government debt to GDP was 15.2% in 1996 and record high was 63.7% in 2024.

Yearly Historical Data (1996-2024)

(in %)
Year Debt to GDP Ratio
2024 63.7%
2023 61.9%
2022 60.9%
2021 59.7%
2020 52%
2019 41.2%
2018 41.9%
2017 41.2%
2016 40.8%
2015 44.4%
2014 42.8%
2013 45.7%
2012 43.7%
2011 40.8%
2010 43.8%
2009 45.8%
2008 38.1%
2007 38.7%
2006 41.3%
2005 39.2%
2004 44%
2003 50.7%
2002 55.1%
2001 57.5%
2000 57.8%
1999 56.6%
1998 49.9%
1997 40.5%
1996 15.2%
Thailand Debt to GDP Ratio : Definition
Thailand's government debt to GDP shows its debt relative to its economic output. It's calculated as total government debt divided by gross domestic product. A lower ratio suggests better fiscal health, a higher ratio, potential debt challenges.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio 2.1% 1.4% Dec'24
Interest Rate 1.5% 1.5% Oct'25
Private Credit (% GDP) 148.01% 154.14% 2024