René Muschter
Research Expert covering Industry & Mobility
Construction industry in Thailand - statistics & facts
The construction sector's importance to Thailand's economy extends beyond its direct contributions, serving as a foundation for growth in other sectors. The investment in the construction sector contributed nearly eight percent to the nation's GDP in 2023 and is poised for modest growth. The construction industry's resilience and potential for expansion are evident despite recent challenges, including the COVID-19 pandemic's impact on construction sites and activities. However, higher fuel and construction material prices increase the contractor's expenses. Exacerbated by high inflation and household debt, the lower domestic purchasing power could impede the expansion of the construction and construction material industries.
