FX.co ★ Thailand Consumer Confidence Lowest Since 2023

The University of the Thai Chamber of Commerce reported a decline in the consumer confidence index to 52.7 in June 2025, down from 54.2 the previous month. This signifies the fifth consecutive month of decline, reaching its lowest point since February 2023. The drop is largely attributed to increasing concerns over significant US tariffs and ongoing political instability. Economic projections indicate that Thailand's economy may lose momentum in the second half of the year, with expectations of a 4% year-on-year contraction due to the potential impact of US trade measures. Without an agreement by August 1, Thailand risks facing US tariffs as steep as 36%, which could exacerbate its economic difficulties. In 2024, the US was Thailand's largest export market, representing 18.3% of total exports worth $55 billion. Despite this, Washington recorded a $45.6 billion trade deficit with Thailand for that year. Deputy Central Bank Governor Piti Disyatat forecasted GDP growth at 2.3% for 2025, with a further deceleration to 1.7% anticipated in 2026.