Bangkok:The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has adjusted its GDP forecast for Thailand to 2.4-2.6% and projected export growth between 18-22% for the year 2026.
According to Thai News Agency, the joint committee, comprising three private sector institutions, announced the updated economic projections during a recent meeting. The committee also identified seven target industries for development under the Reinvent Thailand initiative, aiming to boost productivity and human capital while ensuring sustainable and inclusive growth.
The meeting, chaired by Dr. Poj Aramwattananon of the Thai Chamber of Commerce, included key figures such as Mr. Worakrit Charuwongpak of the Thai Bankers Association and Mrs. Pimjai Leeissaranukul of the Federation of Thai Industries. Discussions focused on leveraging the outcomes of the recent IMF-World Bank Group meeting to position Thailand as a pivotal investment hub and connector in emerging industries, particularly those aligned with global trends and energy transitions.
Dr. Poj highlighted significant risks impacting the global economy, including high crude oil prices and geopolitical tensions, which are contributing to inflationary pressures and economic challenges. Additionally, high government bond yields and concerns over an AI bubble are influencing financial markets and the broader economic outlook.
Furthermore, the revised Manufacturing Production Index (MPI) reflects a positive shift, with a 2.6% growth in the first nine months of 2026, driven by strong performance in technology products. However, the JSCCIB expressed concern over the K-shaped economic growth pattern, pointing to disparities in domestic purchasing power and the reliance on imported raw materials.
The JSCCIB also updated its forecasts for export growth and inflation, adjusting the export growth forecast to 18.0-22.0% and the inflation forecast to 2.1-2.5% for 2026. The committee emphasized the need to accelerate diversification and enhance the competitiveness of the domestic economy to achieve more comprehensive and inclusive growth.