Thailand Private Investment Increases in May

Private investment in Thailand increased by 1.2% month-on-month in May 2026, rebounding from a 5.0% drop in the previous month. The improvement was driven mainly by stronger vehicle investment, supported by higher passenger car registrations and increased ship imports by transportation businesses. Meanwhile, investment in machinery and equipment remained broadly stable, as higher net imports of capital goods, particularly computers and office equipment, were offset by weaker domestic machinery sales. Construction investment edged lower due to reduced activity in non-residential buildings, especially commercial projects, while residential construction strengthened in line with higher permitted construction areas for houses and townhouses.

Private investment in Thailand tumbled by 5.0% month-on-month in April 2026, deepening from a 3.5% decline in the previous month. It marked the steepest decline since December 2023, driven primarily by private vehicle and machinery and equipment index. However, several components of investment activity remained relatively resilient with imports of machinery and equipment and domestic sales of machinery and equipment also posted gains. In addition, private construction investment rose during the month, supported by continued activity in both residential and infrastructure-related projects.

Private investment in Thailand tumbled by 3.5% month-on-month in March 2026, reversing a 1.9% gain in the previous month. This marked the steepest decline since September 2025, driven primarily by weaker investment in machinery and equipment. The downturn reflected lower net imports of capital goods, particularly electrical equipment, even as domestic machinery sales increased amid stronger production of machinery and tools. This divergence suggests that while local manufacturing activity remained resilient, firms scaled back on imported capital inputs. Construction investment was broadly stable, with residential construction activity unchanged, while non-residential investment edged lower amid a slowdown in commercial building projects. On the other hand, vehicle investment strengthened, supported by higher registrations, especially passenger cars, as well as increased ship imports by transportation businesses.