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JSCCIB Raises 2026 Growth and Export Forecasts

Latest Thailand English Online News JSCCIB Raises 2026 Growth and Export Forecasts Market Watch Main - Thai Enquirer %

thaienquirerErich Parpart查看原文 ↗
JSCCIB上调2026年增长和出口预期

Thailand’s leading private-sector committee projects stronger economic growth and exports this year than it anticipated in June–August, despite mounting risks from flooding, higher oil prices and rising borrowing costs.

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) said its September–October forecast puts 2026 GDP growth at 2.1–2.5%, up from its earlier estimate of 1.6–2.0%. It expects exports to expand 12–16%, compared with the previous projection of 8–10%, while its inflation forecast remains unchanged at 2.5–3.0%.

The improved outlook comes as Thailand prepares to host the IMF–World Bank Group Annual Meetings on Oct. 12–18. The event is expected to attract more than 15,000 leaders, policymakers and executives, providing an opportunity to strengthen investor confidence and connect Thai businesses with global markets, the committee said.

However, the JSCCIB warned that natural disasters were becoming a structural risk to the economy and called for urgent government action on flood preparedness and recovery.

Current flooding is affecting households, small and medium-sized businesses, agriculture, tourism and manufacturing, particularly automotive production and supply chains in central and eastern Thailand. Property losses have yet to be quantified, while disruptions are adding to debt burdens and undermining investor confidence.

The committee said the government has spent an average of 50–60 billion baht annually on disaster relief. It urged investment in faster local early-warning systems, climate-resilient infrastructure and comprehensive improvements to water storage, drainage and flood protection.

It also called for urban planning that reflects flood risks and the development of disaster insurance mechanisms to limit economic losses and maintain production.

The JSCCIB plans to write to the prime minister seeking accelerated action and private-sector representation on the National Water Resources Committee and three related subcommittees. It will establish a task force to assess flood impacts and propose preparedness and recovery measures.

The group also urged authorities to resolve congestion at Suvarnabhumi Airport, where flooding has compounded flight delays, cancellations and passenger and baggage backlogs.

Air cargo accounts for approximately 2.42 trillion baht, or around one-third of Thailand’s total export value, the committee said. Service disruptions could damage the country’s image as it welcomes delegates to the annual meetings and enters the year-end peak tourism season.

External risks remain significant. The JSCCIB said Brent crude prices had risen to $102 a barrel from $95 in September, even as Middle Eastern supplies returned close to pre-conflict levels.

It also cited US 30-year Treasury yields reaching 5%, reflecting concerns over US public finances and increased fundraising by major cloud and technology companies. Rising global bond yields are pushing up private-sector borrowing costs and could put downward pressure on the baht.

Looking further ahead, the committee said public- and private-sector priorities were aligned with the 14th National Economic and Social Development Plan, which targets annual economic growth of at least 3% and growth of 5.5% in targeted industries.

The JSCCIB said it would support efforts to remove immediate business obstacles, accelerate adaptation to new technologies and standards, and invest in future industries, skills and infrastructure.

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