Thailand Private Investment Growth at 4-Month Low

Private investment in Thailand rose 1.9% month-on-month in February 2026, easing from a 2.7% increase in the previous month. This marked the weakest monthly growth since the decline in October 2025, largely driven by a drop in vehicle investment (87.4 vs 91.8), weighed down by lower vehicle registrations, particularly electric vehicles, following the expiration of the EV 3.0 scheme, as well as a fall in aircraft import values. In contrast, investment in machinery and equipment (137.9 vs 131.8) continued to expand, remaining the main driver of overall growth, supported by higher net imports of capital goods, especially computers, despite weaker domestic machinery sales. Construction investment also grew, led by a rise in non-residential projects, reflecting an increase in permitted construction areas, particularly for business and commercial buildings.

Private investment in Thailand rose 2.7% month-on-month in January 2026, easing from a 3.6% increase in the previous month. This marked the softest rise since June 2025, but investment momentum remained broadly positive, with gains recorded across all major categories. Outlays on machinery and equipment continued to expand, supported by higher net imports of capital goods, particularly communication devices and electrical machinery, reflecting ongoing business capacity upgrades. Investment in vehicles also increased, aided by the extension of the EV 3.0 registration deadline through end-January, which encouraged firms to accelerate purchases. Construction activity edged up overall, driven by stronger non-residential building in line with rising permitted construction areas, notably for hotels and commercial properties. However, residential construction weakened, partially offsetting gains in other segments.

Private investment in Thailand rose 3.6% month-on-month in December 2025, picking up from a 3.3% increase in November. This marks the strongest growth since October 2024, driven by higher investment across all categories. Investment in machinery and equipment increased, supported by higher domestic sales of machinery, particularly electrical equipment. Vehicle investment also rose, reflecting higher registrations and accelerated electric-vehicle purchases ahead of the EV 3.0 scheme, alongside an increase in aircraft import values. Construction investment remained broadly unchanged, with non-residential construction rising in line with larger permitted construction areas within industrial zones, while residential construction declined due to lower permitted areas for townhouses and shophouses. Overall, the broad-based increase highlights ongoing support for private investment, though trends in residential construction warrant monitoring.