Q1 household debt to GDP hits 90.5% as economy slows


People discuss personal loans at a Money Expo held at Bitec in December. Household debt ratio to gross domestic product was 90.5% in the first quarter. (Photo by Somchai Poomlard)
People discuss personal loans at a Money Expo held at Bitec in December. Household debt ratio to gross domestic product was 90.5% in the first quarter. (Photo by Somchai Poomlard)

Thailand’s household debt ratio to gross domestic product (GDP) rose to 90.5% in the first quarter, the highest since at least 2003, Bank of Thailand (BoT) data showed on Wednesday, as coronavirus outbreaks battered the tourism-reliant economy.

At the end of March, household debt increased to 14.1 trillion baht from 14.0 trillion baht at the end of December, equal to 89.4% of GDP, already among Asia’s highest. The BoT’s household debt data starts from 2003. 



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