JSCCIB raises 2026 Thai GDP forecast to 2% on tech exports

Khaosod•Economy•7d ago

Reader Briefing

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has increased Thailand's 2026 GDP growth forecast to 1.6-2% due to stronger than expected recovery in tech exports and AI investments.

•JSCCIB revised the 2026 GDP growth projection upward to 1.6-2% from the previous 1.2-1.6%.
•Tech product exports grew by 45.9%, accounting for approximately 26.5% of total exports.
•The private sector supports five new government investment strategies to attract foreign direct investment.
•BOI investment promotion requests in the first half of the year reached 1.47 trillion baht.

Overview

•JSCCIB revised the 2026 GDP growth estimate to 1.6-2%, up from the original 1.2-1.6%.
•The adjustment follows stronger than expected recovery in exports, which are projected to grow 8-10% instead of contracting 0.5-1.5%.
•Global AI investment trends drove Thai tech exports to grow by 45.9% in the first half of the year compared to the previous year.
•Payong Srivanich noted that the global economy in the second half of 2026 faces uncertainty from Middle East conflicts, energy prices, inflation, and global interest rates.
•JSCCIB suggests Thailand increase Local Content, build domestic supply chains, and develop labor skills to link foreign investment with Thai entrepreneurs.
•The private sector is pushing for the connection of public and private databases to improve economic policy precision and government openness.
•The private sector supports five government investment strategies: Investment & Industry Transformation Hub, AI & Digital Hub, Green Economy, Financial Hub, and Medical Hub.
•Investment entering ASEAN is estimated to increase by over 544 billion US dollars by 2035.

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Key Quotes

Payong Srivanich

"This can be seen from the investment promotion requests through the Board of Investment (BOI) in the first half of the year, valued at 1.47 trillion baht, an increase of 37% from the previous year."

จะเห็นได้จากคำขอรับการส่งเสริมการลงทุนผ่านสำนักงานคณะกรรมการส่งเสริมการลงทุน (บีโอไอ) ในช่วงครึ่งปีแรกที่มีมูลค่า 1.47 ล้านล้านบาท เพิ่มขึ้น 37% จากปีก่อน

Key Entities

Organization

Joint Standing Committee on Commerce, Industry and Banking(คณะกรรมการร่วมภาคเอกชน 3 สถาบัน)

A committee that provides economic forecasts and policy recommendations for Thailand, also referred to as JSCCIB.

Thai Bankers' Association(สมาคมธนาคารไทย)

The organization whose chairman also leads the JSCCIB.

Board of Investment(สำนักงานคณะกรรมการส่งเสริมการลงทุน)

The agency through which investment promotion requests are processed, also referred to as BOI.

Person

Payong Srivanich(ผยง ศรีวณิช)

Chairman of the Thai Bankers' Association and Chairman of the Joint Standing Committee on Commerce, Industry and Banking.

Place

ASEAN(อาเซียน)ℹ️

The regional bloc expected to see an increase in investment over 544 billion US dollars by 2035.

Middle East(ตะวันออกกลาง)ℹ️

The region where conflicts are putting pressure on energy prices and inflation.

Policy

Five New Government Investment Strategies(5 ยุทธศาสตร์การลงทุนใหม่ของภาครัฐ)

A set of strategies including AI & Digital Hub and Green Economy designed to attract foreign direct investment.