BANGKOK: Thailand’s economy is expected to grow 2.4-2.6 per cent this year, up from a previous forecast of 2.1-2.5 per cent, helped by stronger manufacturing and exports, a leading business group said on Wednesday.
Thai exports, a key growth driver, are forecast to rise by 18-22 per cent, the Joint Standing Committee on Commerce, Industry and Banking said, a sharp increase from its previous projection of a 12-16 per cent increase.
A change in the methodology of Thailand’s manufacturing production index showed that factory output grew 2.6 per cent on the year in the first nine months of 2026, instead of contracting under the previous measurement, it said in a statement
Southeast Asia’s second-largest economy grew 2.4 per cent last year, trailing its regional peers
The group supports raising the excise tax on imported electric vehicles to 35 per cent to encourage local production
The measure is expected to help boost domestic car production by seven per cent to 1.55 million units in 2027, Federation of Thai Industries chairperson Pimjai Leeissaranukul told a briefing
Thailand’s auto and parts industry accounts for about 10 per cent of GDP, supports more than 800,000 jobs and includes over 3,000 small and medium-sized suppliers, the group said
Thailand is a major regional hub for car manufacturers such as BYD and Toyota Motor