Thailand’s household debt is estimated to total 84% of GDP by 2027, according to the Bank of Thailand.
Household debt has long been a concern for Thailand, impeding consumer spending and hindering economic growth.
According to data provided by the National Economic and Social Development Council, Thailand’s household debt reached 15.1 trillion baht in the fourth quarter of 2022, marking a 3.5% increase year-on-year.
This debt accounted for 86.9% of the country’s GDP.
The rise in household debt can be primarily attributed to the purchase of real estate and personal loans, said the planning unit.
As of the end of 2021, total household debt stood at 14.6 trillion baht, equivalent to 90.2% of GDP.
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