Thailand's risk premium on lending (lending rate minus treasury bill rate, %) was 3.45% in 2025, the latest year in the World Bank's World Development Indicators. That is up 0.33 percentage points from 3.12% in 2015.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 3.45% | 2025 |
| Five years earlier | 2.69% | 2020 |
| Ten years earlier | 3.12% | 2015 |
| Highest | 4.99% | 2001 |
| Lowest | 1.62% | 2006 |
| Average since 2016 | 2.76% | 2016–2025 |
| First recorded | 4.99% | 2001 |
What the numbers say
In 2025, Thailand's risk premium on lending (lending rate minus treasury bill rate, %) rose 1.17 percentage points on 2024 (from 2.29% to 3.45%).
Across the 20 yearly changes before that (2005 to 2024), the average change was −0.05 percentage points and a typical year strayed about 0.5 percentage points from that (the standard deviation). This year's change was 2.4 standard deviations above that average, so it was unusually large compared with the rest of the record.
On record, the biggest yearly rise was 1.17 percentage points in 2025 and the biggest yearly fall was 1.2 percentage points in 2005. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2016 to 2025 there is no clear straight-line trend: a straight line explains 4% 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 2025, Thailand had the 18th highest value of the 32 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 2025 ranking
- Mauritius — 15th of 32: 4.31%
- Trinidad and Tobago — 16th of 32: 4.21%
- South Africa — 17th of 32: 3.51%
- Iceland — 19th of 32: 3.14%
- Bolivia — 20th of 32: 3%
- Hong Kong SAR, China — 21st of 32: 2.73%
What this measures
Risk premium on lending is the interest rate charged by banks on loans to private sector customers minus the "risk free" treasury bill interest rate at which short-term government securities are issued or traded in the market. In some countries this spread may be negative, indicating that the market considers its best corporate clients to be lower risk than the government. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.
Limitations: Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm.
All 23 values
| Year | Risk premium on lending (lending rate minus treasury bill rate, %) |
|---|---|
| 2025 | 3.45 |
| 2024 | 2.29 |
| 2023 | 2.5 |
| 2022 | 2.47 |
| 2021 | 2.65 |
| 2020 | 2.69 |
| 2019 | 2.53 |
| 2018 | 2.84 |
| 2017 | 3.08 |
| 2016 | 3.06 |
| 2015 |
Risk premium on lending (lending rate minus treasury bill rate, %) in nearby economies
- Fiji — 4.4% (2024)
- Hong Kong SAR, China — 2.73% (2025)
- Japan — 1.2% (2017)
- Malaysia — 1.77% (2016)
- New Zealand — -3.07% (2025)
- Papua New Guinea — 4.06% (2024)
- Philippines — 2.77% (2019)
- Solomon Islands — 4.69% (2021)
- Viet Nam
More financial sector data for Thailand
- Domestic credit to private sector by banks (% of GDP) — 111.79% (2025)
- Net domestic credit (current LCU) — 27.91 trillion (2025)
- Net foreign assets (current LCU) — 9.51 trillion (2025)
- Monetary sector credit to private sector (% of GDP) — 111.81% (2025)
- Consumer price index (2010 = 100) — 122.4 (2025)
- Inflation, consumer prices (annual % growth) — -0.13% (2025)
- Claims on central government, etc. (% of GDP) — 46.57% (2025)
- GDP deflator (base year varies by country) — 164.62 (2025)
- DEC alternative conversion factor (LCU per US$) — US$32.88 (2025)
Reading data like this
Questions people ask
- What is Thailand's risk premium on lending (lending rate minus treasury bill rate, %)?
- 3.45% in 2025, according to the World Bank (World Development Indicators).
- How has it changed since 2001?
- It is down 1.53 percentage points from 4.99% in 2001. The highest value was 4.99% in 2001 and the lowest 1.62% in 2006.
- How does Thailand rank?
- 18th highest of 32 economies with data for 2025.
- Is the latest change in risk premium on lending (lending rate minus treasury bill rate, %) unusual for Thailand?
- In 2025, Thailand's risk premium on lending (lending rate minus treasury bill rate, %) rose 1.17 percentage points on 2024 (from 2.29% to 3.45%). Across the 20 yearly changes before that (2005 to 2024), the average change was −0.05 percentage points and a typical year strayed about 0.5 percentage points from that (the standard deviation). This year's change was 2.4 standard deviations above that average, so it was unusually large compared with the rest of the record.
Source
World Bank, World Development Indicators, indicator FR.INR.RISK, licensed CC BY 4.0. Original source: International Financial Statistics database, 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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