FX.co ★ Thailand Q1 GDP Annual Growth Strongest in 3 Quarters

Thailand’s GDP grew 2.5% year-on-year in Q1 2026, up from 2.2% in Q4 2025 and above market expectations of 2.2%. This was the fastest pace of expansion since Q3 2025, underpinned mainly by stronger growth in government spending (3.4% vs. 1.3% in Q4 2025) and fixed investment (9.9% vs. 8.1%).

On the external front, both exports (12.6% vs. 5.6%) and imports (21.1% vs. 9.5%) accelerated markedly. In contrast, private consumption growth edged down slightly to 3.2% from 3.3%.

By sector, non-agricultural output picked up to 3.0% from 2.7% in Q4, supported by expansions in the industrial sector (1.8%) and services (3.6%), with mining, quarrying, and construction providing key contributions. Agricultural output also strengthened, rising 1.2% compared with 0.6% previously, mainly on the back of higher production of sugarcane, rubber, oil palm, maize, fruit, and broilers.