Nation Thailand
Suphajee sets out growth path for Thai SMEs amid global economic change
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Suphajee Suthumpun , Deputy Prime Minister and Minister of Commerce, delivered a keynote address entitled “ Opportunities and the Path Forward for Thailand’s Economy and SMEs ” at the “ SME Must Survive 2026 ” event at the Stock Exchange of Thailand
Key facts
- Exports grew by more than 17% in the first half of 2026 to THB6.2 trillion, accelerating from growth of 13% in 2025, when exports were worth about THB11 trillion.
- Thailand’s GDP grew by 1.9% in the second quarter of 2026, with exports and investment serving as the 2 main drivers.
- Although growth slowed from 2.8% in the first quarter, it remained above market expectations.
- The Office of the National Economic and Social Development Council ( NESDC ) raised its full-year economic growth forecast to 2.2%.
- Suphajee said the world was changing on several fronts at once, including competition among major powers, geopolitical conflicts, trade barriers, climate change, an ageing society and rapid advances in digital technology and artificial
- However, the United States and China together accounted for more than 30% of Thai exports.
Summary
Suphajee said the world was changing on several fronts at once, including competition among major powers, geopolitical conflicts, trade barriers, climate change, an ageing society and rapid advances in digital technology and artificial intelligence ( AI ).
These developments were changing at least 3 key economic rules: from seeking the lowest costs to prioritising security, resilience and supply-chain reliability; from competing through scale to competing through the speed of learning and adaptation; and from selling products alone to selling value, experiences, standards and trust.