Thailand's digital GDP skyrockets to B2tn in 2021

Thailand's digital GDP skyrockets to B2tn in 2021

Thailand's digital GDP reached 2 trillion baht in 2021 after posting year-on-year growth of 14.1%, according to a study by the Office of the National Digital Economy and Society Commission (ONDE).

The increase was attributed to Covid-19 infections easing and a partial economic recovery, supported by the return of the production of digital products and services, said Putchapong Nodthaisong, secretary-general of ONDE.

Digital GDP made up 13% of the national GDP in 2021, up from 11.8% in 2020.

"This reflects the country's capability for economic adjustment towards digital technology, which can deliver effective economic activities in the digital era," Mr Putchapong said.

Other economic activities adjusted slowly, which was reflected by digital GDP gains outpacing the national GDP growth last year, he said.

Data on the digital contribution to GDP can be used to gauge the country's adjustment towards digital technology and in crafting policies and strategies to improve the country's digital economy, Mr Putchapong said.

Measurement of the country's digital economy follows the framework stipulated by the Organisation for Economic Co-operation and Development, which takes into account production, expenditure and income.

The data is sourced from ICT, media and content industries for the core measurement. Other sources include e-commerce and digital services.

"We want various agencies to make use of the digital economy data to pursue development and sustainability," he said.

"The ONDE believes it is important to work with relevant parties to develop a database that can be used to assess the digital economy."

The Digital Economy and Society Ministry expects the digital economy to account for 30% of Thailand's GDP by 2027.

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