2026年上半年泰国制造业房地产市场

Manufacturing An overview review of Manufacturing market in 1H 2026by Knight Frank Thailand 1H 2026 knightfrank.co.th/research Thailand recorded 435 approved FDI projects in Q1/2026,down from 511 projects in the same period last year, withtotal investment value THB 157.9 billion. Investmentremained concentrated in high-growth sectors, led byelectronics (THB 84.6 billion), reinforcing Thailand’sposition as a regional manufacturing and technologyhub. The serviced industrial land market achieved a 93.6%cumulative sales rate, while average land prices rose16.2% YoY to THB 7.43 million per rai. Meanwhile, theready-built factory (RBF) market remained exceptionallytight, with occupancy reaching 98.2%, driving averageasking rents up to THB 203.4 per sq m per month.Overall, strong occupancy levels and rising prices reflectsustained demand for industrial space despite a moreselective investment environment. Mr. Marcus BurtenshawPartner, Head of IndustrialStrategy & SolutionsKnight Frank Thailand Market Overview Thailand’s economy gained furthermomentum in the first quarter of2026, with GDP growth acceleratingto 2.8% YoY from 2.5% in the previousquarter. The stronger growth wassupported by sustained expansionin private consumption, robustprivate investment, and improvingexport performance, reflectingresilience in both domestic andexternal demand. Domestic demand remained resilient,supported by continued growthin both private and governmentconsumption, which expanded by3.2% YoY and 3.4% YoY, respectively.Investment activity strengthenedfurther, with private investmentrising by 10.1% YoY, marking thestrongest growth in 14 quarters,driven primarily by machinery andequipment investment. Gross fixedcapital formation also increased toTHB 1.18 trillion, up 1.1% from theprevious quarter. The sustainedexpansion in capital investmentsuggests that businesses remainconfident in future demandconditions and continue to enhanceproduction capabilities, particularlyin export-oriented industries. driven by strong global demand forhigh-technology manufacturingproducts, particularly electronicsand electrical appliances. Exportperformance was further supportedby accelerating growth in computerparts and accessories, which roseto 45.4% YoY from 30.3% YoY inthe previous quarter, as well astelecommunication equipment,which surged to 140.1% YoY from83.0% YoY. Meanwhile, electrical appliance exports continued tostrengthen, increasing to 19.6% YoYfrom 17.9% YoY. The broad-basedacceleration across key technology-related exports highlights thestrengthening competitiveness ofThailand’s manufacturing sector andindicates continued integration intoglobal supply chains amid improvingexternal demand. Exports remained a key growth driver,expanding by 17.8% YoY to USD 95.1billion, up from 9.4% YoY in Q4 2025and marking the strongest growth in17 quarters. The expansion was largely Export performance was furthersupported by the reduction inThailand’s effective U.S. importtariff rate to 5.3% following theimplementation of Section 122. Themore favorable tariff environmentcontributed to a strong expansionin Thailand’s exports to the UnitedStates, which surged by 41.8% YoY. Growth was particularly concentratedin product categories exempted fromSection 122 tariffs, which accountedfor 61.2% of total U.S. imports fromThailand. Exports within theseexempted categories expanded by64.4% YoY in March 2026, drivenprimarily by machinery andelectronics products. Key contributorsincluded digital processing units,which accounted for 34.4% ofexempted exports and expandedby 247.0% YoY, telecommunicationequipment (33.9%, +87.3% YoY),and printed circuit boards(4.7%, +297.8% YoY). The strong performance of thesetariff-exempt, technology-relatedproducts highlights the significantrole of Section 122 tariff relief insupporting Thailand’s export growthand strengthening the country’sposition within global technologymanufacturing supply chains. The improvement in export activitywas also reflected in Thailand’smanufacturing sector. TheManufacturing Production Index(MPI) continued to recover in thefirst quarter of 2026, averaging 97.4compared with 95.7 in the sameperiod of the previous year, whilemanufacturing output expandedby 0.9% YoY, improving from 0.4%YoY in the preceding quarter. Therecovery was broad-based acrossexport-oriented, mixed-demand,and domestic-oriented industries,indicating a gradual strengtheningof production activity. Growth was particularly evidentin export-oriented industries,supported by strong external demandfor technology-related products.Production of electronic componentsand boards expanded by 12.1% YoY,while computers and peripheral equipment recorded robust growthof 27.8% YoY, consistent with thestrong performance of electronicsexports during the quarter.Manufacturing industries witha moderate export share alsoexpanded, led by motor vehicles,sugar production, and preparedanimal feeds. Meanwhile, domestic-oriented industries returned togrowt