Thailand’s economy picked up pace in the first quarter of 2026, with the NESDC reporting GDP growth of 2.8%, ahead of the 2.5% recorded in the final quarter of last year.
Both the agricultural and non-agricultural sectors contributed to the improvement. Farm output grew by 1.2%, more than doubling the 0.6% seen in the previous quarter, while the broader non-agricultural sector posted 3.0% growth, up from 2.7%.
The sharpest gain came from private investment, which jumped to 10.1% from 6.5% the quarter before. Spending on machinery, equipment and construction drove the increase. Private consumption, government expenditure, fixed investment and exports of goods and services all moved higher as well.
Michael Kenner, co-founder of Fazwaz and managing director of LIFULL Connect, said the private investment figures point to something more significant than a single quarter’s result.
“A jump in private investment from 6.5% to 10.1% in a single quarter, led by construction and equipment spending, is not noise — that is, developers and capital allocators making committed bets on Thailand’s near-term trajectory. We tend to see that kind of movement when confidence has already shifted internally before it shows up in public sentiment.
“For the property market, it suggests the development pipeline is being primed. The question now is whether end demand, particularly from foreign buyers, catches up with the supply that is being positioned.”
On the trade front, demand from the United States, Europe and ASEAN markets supported export growth, though shipments to Japan and the Middle East fell during the period.
Government Spokesperson Rachada Dhnadirek said Prime Minister Anutin Charnvirakul viewed the figures positively, describing the results as evidence of a continuing recovery and confirmation that economic policy was producing results.
Looking ahead, Rachada said the government intends to open up new export channels in Africa and the Middle East as a way of spreading risk and creating fresh opportunities for Thai exporters.
Domestic support measures are also in the pipeline. The government plans to cut production costs for farmers and low-income groups and to channel stimulus into local economies across the country. Rachada cited the Emergency Loan Decree as a key vehicle for this effort, pointing to the “Thais Help Thais” scheme and planned energy sector reforms designed to bolster long-term energy security.
Despite the stronger-than-expected quarterly result, the government’s official full-year growth target for Thailand’s GDP in 2026 remains around 2%, Rachada confirmed.
The story Thailand’s 2026 GDP outlook firms up on private investment surge as seen on Thaiger News.
