Tourists shop for street food in Bangkok’s Chinatown, Thailand, May 16, 2025. Photo by Reuters
Thailand has raised its 2026 economic growth forecast to 1.6-2% as strong demand for AI-related technology and data center infrastructure continues to fuel exports.
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) lifted its GDP growth forecast for for the Southeast Asia’s second largest economy from the previous range of 1.2-1.6%.
Speaking after a JSCCIB meeting on June 10, Payong Srivanich, Chairman of the Thai Bankers’ Association, said Thailand’s exports rose by 18.9% in the first four months of the year, with technology-related exports surging 48.4%, in line with the strong export growth trend seen across many Asian economies.
However, JSCCIB warned that the country’s economy remains K-shaped, with the technology sector growing strongly but most businesses still facing high costs and weak purchasing power.
Businesses are also facing mounting pressure from rising input costs, potential supply shortages, and weakening domestic consumer demand amid increasing living expenses.
One of the key drivers supporting growth is the “Thais Help Thais Plus” stimulus scheme, valued at approximately 170 billion THB (US$5.1 billion), which is expected to boost domestic spending.
On that basis, JSCCIB also revised its 2026 export growth forecast upward to 8–10%, compared with its previous projection of zero growth. It also raised its inflation forecast to 2.5–3%, from the earlier range of 2.0–3%.
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