The Joint Standing Committee on Commerce, Industry, and Banking (JCC) has revised up its forecast for Thailand's economy in 2026, expecting GDP to expand by 2.1–2.5%, up from the previous 1.6–2.0%. It also raised its export growth projection to 12–16%, from the earlier 8–10%, while keeping inflation at 2.5–3.0%. The upward revision is attributed to stronger-than-expected export momentum and private investment. However, the JCC noted that this momentum has a reduced impact on the domestic economy, as Thailand relies heavily on raw material imports and adds less value domestically. Additionally, the JCC is concerned about the Middle East conflict, which has pushed global crude oil prices to $95 per barrel, and diesel export restrictions that have forced refineries to cut production, affecting downstream industries. It therefore proposes that the government ease oil export restrictions in line with free trade mechanisms and cooperate with the private sector to maintain production and supply chain balance.
