Published Mon, May 18, 2026 · 11:56 AM
[BANGKOK] Thailand’s economy unexpectedly accelerated in the first quarter, showing surprising resilience as the Middle East conflict drives up energy and living costs.
Gross domestic product in the three months through March rose 2.8 per cent from a year earlier, the National Economic and Social Development Council said on Monday (May 18). That exceeded the median estimate of 2.4 per cent in a Bloomberg News survey, and the 2.5 per cent expansion of the fourth quarter of last year. The 2026 growth forecast was maintained in a range of 1.5 to 2.5 per cent.
Thailand’s better-than-expected growth was driven by improved government spending, investment and exports, while private consumption remained steady, the council said in a statement.
The data is positive news for Prime Minister Anutin Charnvirakul, who won re-election in February with a vow to revive the economy, including through new borrowing and investment. The government on Monday detailed plans to drastically cut red tape in a bid to woo more foreign investors.
The growth means that Thailand’s economy, a perennial laggard, matched the first-quarter pace of the Philippines. Still, it lags other South-east Asian economies including Singapore, Vietnam, Malaysia and Indonesia.
On a quarter-on-quarter basis, the economy expanded 0.7 per cent from the previous three months, compared with the 0.3 per cent estimate in the survey. The unemployment rate was 0.91 per cent. BLOOMBERG
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