BANGKOK: Thailand's economic growth was broadly stable on a monthly basis in June, as increased private consumption and exports offset declines in manufacturing output and tourism-related services, the central bank said on Friday (July 31).
According to the Bank of Thailand, domestic demand slightly improved, with private consumption up 1.1 per cent from the previous month, driven by higher spending on consumer goods following government measures. At the same time, electric vehicle (EV) sales rose amid elevated fuel prices and growing consumer preferences for green mobility.
Private investment also increased by 0.5 per cent, in line with higher merchandise exports of technology-related goods fueled by the global electronics cycle and data centre investment, the central bank said in a statement.
However, manufacturing output dropped, primarily as a result of reduced petroleum production following partial refinery maintenance shutdowns and lower production of non-EVs, said the central bank's assistant governor Chayawadee Chai-anant.
Meanwhile, tourism-related activities slowed as both tourism receipts and foreign tourist arrivals fell, particularly from short-haul markets, due to lower demand and flight services amid soaring energy costs, Chayawadee told a news conference.
For the second quarter of 2026, the Thai economy softened from the previous three months, largely owing to higher energy prices and travel disruptions linked to the Middle East conflict, she said.
Looking ahead, the South-East Asian country's economy is expected to grow, supported by exports and private investment from the electronics upcycle and government measures to boost domestic consumption, she noted.
The central bank identified key factors warranting attention, including the trajectory of geopolitical tensions, global trade policies, the recovery of the vital tourism sector, the impact of government policies, and El Nino weather conditions. - Xinhua
