Thailand’s Q2 GDP expands 1.9% with 2026 growth forecast midpoint at 2.2%
Thailand’s economy grew 1.9% in Q2, supported by private investment and exports, as the NESDC forecast 2026 growth of 2.0–2.5%, with a 2.2% midpoint.
- Thailand's economy expanded by 1.9% in the second quarter of 2026, a slowdown from the 2.8% growth recorded in the first quarter.
- The Q2 growth was driven by a 9.1% increase in total investment, a 17.6% rise in the value of goods exports, and continued expansion in the tourism sector.
- For the full year of 2026, the National Economic and Social Development Council (NESDC) forecasts GDP growth to be between 2.0% and 2.5%, with a midpoint of 2.2%.
Thailand’s economy expanded by 1.9% in the second quarter of 2026, slowing from growth of 2.8% in the first quarter, according to figures released by the National Economic and Social Development Council (NESDC) on Monday (August 17).
Danucha Pichayanan, secretary-general of the NESDC, reported that total investment remained a major source of growth, rising 9.1%. Private investment increased by 13.4%, driven by spending on machinery, equipment and vehicles, while public investment contracted by 1.6%.
International trade also provided support. The value of goods exports grew by 17.6%, while export volume rose 13.7%, led by growth in electronics and electrical appliances in line with global demand.
Imports, however, increased at a much faster pace. The value of goods imports surged 42.3% and import volume rose 27.7%, pushing the current-account balance back into a deficit equivalent to 12% of GDP during the quarter.
Tourism continued to expand, generating total revenue of 663 billion baht, up 6.3% from the previous quarter. Thailand recorded 6.55 million international tourist arrivals during the period.
Agricultural production grew by 1.5%, supported by higher output of key crops including fruit, sugar cane and rubber. Output of oil palm and paddy rice declined. Overall farm income, meanwhile, returned to growth for the first time in five quarters, rising 6.6%.
On economic stability, headline inflation stood at 2.7% in the second quarter, while the unemployment rate was 0.96%. Public debt at the end of March 2026 totalled 12.9 trillion baht, equivalent to 66.9% of GDP.
Looking ahead, the NESDC expects Thailand’s economy to expand by 2.0–2.5% in 2026, with a midpoint forecast of 2.2%. Growth is expected to be supported by continued strong private investment, household consumption, goods exports and momentum from government spending and public investment.
The NESDC recommended the following key policy priorities for the remainder of the year:
- Support agricultural production and strengthen farmers’ income security.
- Maintain growth in the export sector.
- Promote private investment.
- Sustain economic momentum through government spending and infrastructure investment.
- Prepare for risks arising from conflicts in the Middle East.
