Thai Q1 GDP Growth Beats Forecasts at 2.8 Percent
Thailand's economy expanded by 2.8% in the first quarter of 2026, surpassing analyst expectations due to strong exports and domestic consumption. Despite the positive data, the government maintained its annual growth forecast between 1.5% and 2.5% as Middle East tensions and rising oil prices weigh on the outlook.
Thailand GDP grew 2.8% in the first quarter, exceeding the 2.2% growth forecast by Reuters analysts. Expansion accelerated from 2.5% in the final quarter of 2025 behind stronger exports and manufacturing. While the beat signals resilience, the government kept its 2026 outlook at 1.5% to 2.5% due to geopolitical risks.
The National Economic and Social Development Council reported that the economy expanded 0.7% on a seasonally adjusted quarterly basis. This figure outperformed the 0.1% growth projected in a Reuters poll. Manufacturing and government consumption drove the first-quarter gains.
