World Bank2025-09-242025-09-242025-08-18https://hdl.handle.net/10986/43764Thailand’s economic recovery has been uneven. Stronger-than-expected exports and investment are masking weakness in tourism and private consumption. Export momentum benefited from front-loaded orders amid rising trade uncertainty, while approved investment projects in high-value sectors surged. Responding to persistently low inflation, Bank of Thailand (BOT) cut its policy rate further to 1.50 percent, a two-year low. On the fiscal side, the deficit widened as accelerated spending outpaced improved revenue collection. Meanwhile, the appreciation of the Thai baht on the back of improved external balances and returning capital inflows, signaled rising investor confidence.en-USCC BY-NC 3.0 IGOECONOMIC RECOVERYEXPORTS AND INVESTMENTINFLATIONINVESTMENT PROJECTSPRIVATE CONSUMPTIONBriefWorld Bankhttps://doi.org/10.1596/43764