Thai Enquirer
Economy Grows 1.9% in Q2, Full-Year Growth Forecast at 2.0–2.5%
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◌ Single Source
Thailand’s economy expanded by 1.9% year-on-year in the second quarter of 2026, slowing from 2.8% in the first quarter, while GDP contracted by a seasonally adjusted 0.2% quarter-on-quarter.
Key facts
- Private consumption grew by 1.9%, down from 3.3% in the previous quarter, as spending slowed across most categories
- Exports rose by 17.6% to US$99.08 billion, supported by demand for electronics and higher agricultural commodity prices
- However, imports surged by 42.3% to $111.16 billion, resulting in a trade deficit of $12.1 billion.
- Manufacturing grew by just 0.1%, while factory capacity utilisation fell to 57.47%, its lowest level since the second quarter of 2020
- The National Economic and Social Development Council expects full-year economic growth of 2.0–2.5%, with a midpoint of 2.2%, compared with 2.4% in 2025.
- For 2026, private consumption is projected to grow by 2.6%, private investment by 9.6% and exports by 15.1%
Summary
Private consumption grew by 1.9%, down from 3.3% in the previous quarter, as spending slowed across most categories. Consumer confidence fell to 50.3, its lowest level in 14 quarters.
Exports rose by 17.6% to US$99.08 billion, supported by demand for electronics and higher agricultural commodity prices. However, imports surged by 42.3% to $111.16 billion, resulting in a trade deficit of $12.1 billion.