Nation Thailand
JSCCIB raises Thailand GDP forecast to 1.6-2.0%
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The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has raised its forecast for Thailand’s 2026 economic growth to 1.6-2.0%, supported by the 170-billion-baht “Thais Help Thais Plus” stimulus scheme.
Key facts
- The committee also lifted its export growth forecast to 8-10%, while warning that Thailand’s economy remains K-shaped, with the technology sector growing strongly but most businesses still facing high costs and weak purchasing power.
- Payong Srivanich, chairman of the Thai Bankers’ Association and chair of the JSCCIB meeting, said after the committee’s June 2026 meeting that the JSCCIB had revised up its forecast for Thailand’s GDP growth this year from 1.2-1.6% to
- The JSCCIB also raised its export forecast for this year to growth of 8-10%, compared with its previous projection of flat growth.
- It also revised its inflation forecast to 2.5-3.0%, up from 2.0-3.0%, reflecting the impact of energy costs and global commodity price trends.
- Although Thailand’s exports expanded by 18.9% in the first four months of the year, the JSCCIB said most of the growth came from technology products, which rose by 48.4% in line with global investment trends in AI and data centres.
- Refinery operators have also reduced their dependence on crude oil from the Middle East from around 55% to 27%, while increasing imports from other sources to 73% to reduce risks from geopolitical conflict.
Summary
The committee also lifted its export growth forecast to 8-10%, while warning that Thailand’s economy remains K-shaped, with the technology sector growing strongly but most businesses still facing high costs and weak purchasing power.
The private sector also stressed that Thailand still has sufficient energy security, with reserves enough for more than 109 days, despite the prolonged conflict in the Middle East.