Thailand Q1 GDP Outperforms But Headwinds Persist

Thailand's economy grew 2.8% yoy in Q1 2026, beating consensus, though sequential momentum slowed significantly. Goldman Sachs maintains a cautious 1.3% full-year growth forecast due to inflation and weak confidence.

Key Takeaways

• 1.Thailand's economy grew by 2.8% yoy in Q1 2026, beating the Bloomberg consensus of 2.4%.
• 2.Sequential growth momentum is slowing, with Q1 GDP rising only 0.4% qoq compared to 1.9% in the previous quarter.
• 3.The 2026 outlook remains subdued due to inflation and weak confidence, with Goldman Sachs lowering its Q2 GDP forecast to -1.0% qoq.

Table of Contents

• Key numbers
• Asia-MAP score
• Main points
• Disclosure Appendix
• Global product; distributing entities
• General disclosures

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