Thailand: Net lending (+) / net borrowing (-) (% of GDP)

Key figures

What the numbers say

In 2024, Thailand's net lending (+) / net borrowing (-) (% of GDP) rose 0.69 percentage points on 2023 (from -2.2% to -1.5%).

Across the 30 yearly changes before that (1994 to 2023), the average change was −0.14 percentage points and a typical year strayed about 2.92 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 8.17 percentage points in 2003 and the biggest yearly fall was 4.68 percentage points in 2002. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 30% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Thailand had the 36th highest value of the 89 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Thailand in the 2024 ranking

• Angola — 32nd of 89: -1.3%
• Estonia — 33rd of 89: -1.32%
• Bosnia and Herzegovina — 34th of 89: -1.5%
• Germany — 36th of 89: -1.68%
• Korea, Rep. — 37th of 89: -1.79%
• Madagascar — 38th of 89: -1.9%

What this measures

Net lending (+) / net borrowing (–) equals government revenue minus expense, minus net investment in nonfinancial assets. It is also equal to the net result of transactions in financial assets and liabilities. Net lending/net borrowing is a summary measure indicating the extent to which government is either putting financial resources at the disposal of other sectors in the economy or abroad, or utilizing the financial resources generated by other sectors in the economy or from abroad. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

Regional and income-group figures are computed by the World Bank as a weighted average.

All 53 values

Net lending (+) / net borrowing (-) (% of GDP) in nearby economies

• Australia — -1.35% (2022)
• Cambodia — -3.33% (2023)
• Fiji — -2.21% (2024)
• Kiribati — -1.43% (2023)
• Korea, Rep. — -1.79% (2024)
• Lao PDR — 0.19% (2022)
• Macao SAR, China — 7.01% (2024)
• Malaysia — -4.15% (2024)
• Marshall Islands — 5.03% (2020)
• Micronesia, Fed. Sts. — 6.93% (2020)

More public sector data for Thailand

• Arms imports (SIPRI trend indicator values) — 33 million (2025)
• Military expenditure (current USD) — 5.98 billion (2025)
• Military expenditure (current LCU) — 196.74 billion (2025)
• Military expenditure (% of GDP) — 1.04% (2025)
• Net incurrence of liabilities, total (current LCU) — 571.5 billion (2024)
• Net incurrence of liabilities, total (% of GDP) — 3.06% (2024)
• Net investment in nonfinancial assets (current LCU) — 420.58 billion (2024)
• Net investment in nonfinancial assets (% of GDP) — 2.25% (2024)
• Net lending (+) / net borrowing (-) (current LCU) — -280.86 billion (2024)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Thailand's net lending (+) / net borrowing (-) (% of GDP)?

-1.5% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1972?

It is up 2.15 percentage points from -3.65% in 1972. The highest value was 4.83% in 1991 and the lowest -8.71% in 1999.

How does Thailand rank?

36th highest of 89 economies with data for 2024.

Is the latest change in net lending (+) / net borrowing (-) (% of GDP) unusual for Thailand?

In 2024, Thailand's net lending (+) / net borrowing (-) (% of GDP) rose 0.69 percentage points on 2023 (from -2.2% to -1.5%). Across the 30 yearly changes before that (1994 to 2023), the average change was −0.14 percentage points and a typical year strayed about 2.92 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator GC.NLD.TOTL.GD.ZS, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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