Thailand's economy decelerated in 2025, performing below expectations as the nation grappled with persistent domestic structural challenges and external uncertainties. The country's Gross Domestic Product (GDP) expanded by 2.5% in the fourth quarter, resulting in a full-year growth rate of 2.4%, a slowdown compared to 2024. The economy has experienced a sluggish post-pandemic recovery, hampered by deep-rooted domestic issues including high household debt, an aging population, and consistently weak consumer demand. Growth momentum accelerated in the final stretch of 2025 after hitting a four-year low in the third quarter. A prior survey had anticipated fourth-quarter economic growth would remain at a weak level of 1.3%. Private consumption, which accounts for approximately half of the nation's economy, increased by 3.3% year-on-year in the fourth quarter. According to government data, the economy strengthened on a seasonally adjusted basis, growing 1.9% quarter-on-quarter in the fourth quarter, following a revised contraction of 0.3% in the third quarter. For the coming year, the government projects the Thai economy to grow between 1.5% and 2.5%.