ADB raises Thailand's 2026 GDP forecast to 2% on stronger-than-expected exports
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The Asian Development Bank, or ADB, has raised its forecast for Thailand's gross domestic product growth in 2026 to 2.0%, up from the 1.8% projected in July, saying in its September 2026 Asian Development Outlook report that the upgrade was driven by merchandise exports, especially technology products, stronger-than-expected private investment, and government support, which helped offset the impact of a slowdown. Meanwhile, Thailand's economic growth for 2027 is expected to ease to 1.9% from 2.0%, as global demand for technology goods is seen expanding slightly more slowly. Inflation was revised down to 2.5% in 2026 from 2.9% in July, and is expected to slow to 1.3% in 2027 on anticipated lower energy prices. For the wider Asia-Pacific region, the ADB expects growth in developing Asia and the Pacific to slow from 5.5% in 2025 to 5.0% this year, before edging up to 5.1% in 2027, with the 2026 estimate 0.1 percentage point higher than forecast in the July report. ADB President Masato Kanda said the region has continued to weather various situations well, but risks are mounting, noting that a more severe El Niño has reduced agricultural output and hydropower generation capacity, pushing food and energy prices higher and hitting vulnerable groups hardest.