Digital economy continues its forward march
The digital economy contributed 2.1 billion baht to Thailand's gross domestic product (GDP) in 2022, marking a 1.9% increase from the 2.04 billion baht the previous year.
Putchapong Nodthaisong, secretary-general of the Office of the National Digital Economy and Society Commission (ONDE-Thailand), said this week that Thailand's digital economy GDP in 2022 grew by 3.49% compared to the 4.44 billion baht the previous year. This growth was the result of the improving situation following the pandemic, leading the overall economy to return to a state of normalcy and resulting in the expansion of the digital economy.
As part of the “Digital Contribution to GDP” project to measure economic growth through the analysis of digital technology-induced aggregate product within the country, a framework was established to measure the value of the digital economy. This was done using the GDP measurement methodology of the country, focusing on production, income, and expenditure. The outcomes provide preliminary data for ONDE to understand the overall landscape of the country's digital economic activities, thereby providing tools for studying, analysing and monitoring the situation, as well as assessing the impacts of transitioning to digital technology. These results will also aid in formulating future policies and strategies for the development of the country's digital economy.
Putchapong added that the true expansion rates of the digital economy for 2021 and 2022 were 11.83% and 1.90%, respectively. When comparing the proportions between the digital economy value and the GDP at current prices, it was revealed that the percentages were 12.66% and 12.19% for 2021 and 2022, respectively.
This demonstrates that the government needs to implement policies to further stimulate the digital economy in order to achieve the goal of reaching a 30% contribution by 2027, as outlined in the 13th National Economic and Social Development Plan.
