FTI Urges Buy Thai and Oil Export Unlocks for 2026 Economy

MGR Online•Economy•3d ago

Reader Briefing

The Federation of Thai Industries proposes the 'Buy Thai' project and the removal of oil export restrictions to stimulate the industrial sector and GDP in the second half of 2026.

•Pimjai Lee-Issaranukul, President of the Federation of Thai Industries (FTI), reported a K-shaped economic recovery in Q2 2026.
•The FTI proposes the 'Buy Thai' initiative to increase domestic demand for high-employment goods like textiles and furniture.
•The FTI suggests allowing conditional exports of surplus oil to resolve production limitations caused by full storage capacity.
•Raising the Capacity Utilization Rate (CapU) by 5 points to 62.5% could increase industrial GDP by approximately 140,000 million baht.

Overview

•The Thai economy in Q2 2026 expanded by 1.9% compared to the previous year, though the recovery is characterized as K-shaped.
•The average Capacity Utilization Rate (CapU) was 57.47%, a decrease of 3.2% from the same period last year.
•Oil refineries have had to adjust production to match slowing domestic demand because exports are limited and finished oil storage is at full capacity.
•The Federation of Thai Industries (FTI) proposes the 'Buy Thai' project targeting finished goods such as textiles, apparel, footwear, furniture, and household items.
•The Federation of Thai Industries (FTI) suggests the government unlock the export of oil exceeding domestic demand and reserves under specific conditions.
•The Federation of Thai Industries (FTI) encourages the use of Made in Thailand (MiT) criteria for government construction projects to revive orders for steel and building materials.
•Total investment in Q2 2026 expanded by 9.1%, with private investment growing by 13.4%.
•The Federation of Thai Industries (FTI) aims to increase the proportion of domestic raw materials and parts used in promoted investment projects, which currently stands at approximately 42%.

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Key Entities

Organization

Federation of Thai Industries(สภาอุตสาหกรรมแห่งประเทศไทย)ℹ️

An organization whose president proposed economic drivers including the Buy Thai project and oil export unlocks.

FTI(ส.อ.ท.)

Abbreviation for the Federation of Thai Industries.

Person

Pimjai Lee-Issaranukul(พิมพ์ใจ ลี้อิสสระนุกูล)

President of the Federation of Thai Industries.

Policy

Buy Thai

A proposed project to create domestic demand for high-employment finished goods.

Made in Thailandℹ️

A criteria (MiT) promoted for use in government construction projects to support Thai producers.