Thailand's gross domestic product expanded 2.8% year-on-year in the first quarter of 2026, surpassing the median forecast of 2.4% and improving on the 2.5% growth recorded in Q4 2025, the National Economic and Social Development Council reported on May 18 [1, 2]. On a quarter-on-quarter basis, the economy grew 0.7% during the same period [1].
This acceleration contrasts with a regional slowdown among Southeast Asian economies, where Thailand managed to buck the trend [3]. However, its growth pace matched the Philippines but remained below that of Singapore, Vietnam, Malaysia, and Indonesia [1].
The growth was fueled by increased government spending, stronger investment, and rising exports, while private consumption held steady [1, 2]. Thailand’s unemployment rate stood at a low 0.91% in Q1 2026 [1].
The National Economic and Social Development Council kept its annual growth forecast range unchanged at 1.5% to 2.5% for 2026 [1, 2]. In response to the latest data, the Thai government indicated plans to reduce bureaucratic obstacles to attract more foreign investment [1].
Earlier in February 2026, Prime Minister Anutin Charnvirakul was re-elected, promising an economic revival [1]. The Q1 data provides an early sign of economic momentum under his renewed leadership [1].
