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Industry Outlook Analysis

6 Mar 2025

Real Estate and Construction

In 2025, the number of home ownership transfers may shrink by 4% for the third consecutive year; LTV measures may help stimulate the market, but the impact may not be significant (Current Issue No.3568)

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6 Mar 2025

Tourism

The number of Israeli tourists visiting Thailand is expected to continue growing in 2025, reaching an estimated 350,000 visitors – a 25% increase (Current Issue No.3569 Full Ed.)

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20 Feb 2025

Industry

Thailand’s auto tire exports to the US may continue to grow despite protectionist trade measures under Trump 2.0 (Current Issue No.3560)

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20 Feb 2025

Services

Retail sales in 2025 are projected to grow by 3.0%, the lowest rate in four years (Current Issue No.3561)

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7 Feb 2025

Agriculture

How ready is Thai low-carbon rice to compete with the Vietnamese? (Current Issue No.3558)

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24 Jan 2025

Tourism

Thailand will likely attract 7.5 million Chinese tourists in 2025; penetrating the Chinese tourist market may be more difficult than before (Current Issue No.3553)

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16 Jan 2025

Tourism

Thailand expects 37.5 million foreign tourists in 2025, generating revenue of around THB 1.78 trillion (Current Issue No.3545)

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23 Dec 2024

Services

Retail sales in 2025 expected to grow by 3.0%, but businesses may remain exposed to risks of intense competition and rising costs (Current Issue No.3540)

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13 Dec 2024

Services

Outlook for Thai life insurance business 2025: Adjustments to declining interest rates and prevailing purchasing power needed (Current Issue No.3538 Full Ed.)

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6 Dec 2024

Energy

Sustainable Aviation Fuel (SAF): The Global Demand-Supply Gap and Thailand’s Role (Current Issue No.3535)

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24 Oct 2024

Industry

Thailand's passenger car exports to ASEAN are expected to lose their leading position in 2024, and reclaiming the top spot may prove difficult ahead (Current Issue No.3529 Full Ed.)

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24 Oct 2024

Agriculture

The impacts of increasing frequency and severity of climate change on Thai agricultural and food exports (Current Issue No.3528 Full Ed.)

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17 Oct 2024

Energy

P2P energy trading may help reduce electricity costs in Thailand (Current Issue No.3525)

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15 Oct 2024

Tourism

Seven million Chinese tourists expected to visit Thailand in 2024, amid China’s economic slowdown and intense competition in tourism (Current Issue No.3522 Full Ed.)

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27 Sep 2024

Industry

Market turnover of alternative proteins in Thailand projected to grow 3.2% in 2024; growth of beverages outstrips food segment (Current Issue No.3520 Full Ed.)

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26 Sep 2024

Real Estate and Construction

Home loans in the banking system projected to post the lowest growth in 23 years during 2024 (Current Issue No.3521 Full Ed.)

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8 Aug 2024

Industry

Thai pet food exports projected to surge 19.5% in 2024 Thailand should penetrate premium market as consumers in this segment are willing to pay more (Current Issue No.3515 Full Ed.)

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23 Jul 2024

Agriculture

China’s severe floods cause substantial damage to rice crops. Despite this potential advantage, Thai rice exports to China in 2024 are projected to contract by 2% YoY (Current Issue No.3514 Full Ed.)

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17 Jul 2024

Industry

Increased adoption of new BEV taxis is seen in Thailand as issues related to costs and limited number of fueling stations squeeze share of other taxi type (Current Issue No.3513 Full Ed.)

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5 Jul 2024

Trading

Thailand’s halal-certified food exports to the OIC market expected to grow by 5.0% YoY in 2024; focus should be on Saudi Arabia and the UAE (Current Issue No.3510 Full Ed.)

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4 Jul 2024

Agriculture

Reduction in sugarcane burning through carbon credits to achieve net zero target (Current Issue No.3509 Full Ed.)

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14 Jun 2024

Agriculture

Durian season, 2024: Production projected to drop by 18% YoY and growers’ income may rise by only 0.3% YoY despite soaring prices (Current Issue No.3506 Full Ed.)

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11 Jun 2024

Energy

Global Solar Market Outlook (Current Issue No.3502 Full Ed.)

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10 Jun 2024

Tourism

Tax measures to boost tourism in secondary cities; domestic tourism expected to see further growth throughout 2024 (Current Issue No.3504 Full Ed.)

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7 Jun 2024

Industry

Fast fashion industry emits more carbon than the aviation and shipping industries combined (Current Issue No.3503 Full Ed.)

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30 May 2024

Trading

Thai Halal food and beverage exports may shrink by 0.8% in 2024 Thailand’s aims to become a regional halal hub remains challenging (Current Issue No.3501 Full Ed.)

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20 May 2024

Agriculture

The transition from El Niño to La Niña in 2024: Rice production in Northeastern Thailand is likely to be the hardest hit, with the total output declining by 9% (Current Issue No.3497 Full Ed.)

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17 May 2024

Industry

Views on the US’s decision to raise import tariffs on Chinese-made BEVs by fourfold (Current Issue No.3493 Full Ed.)

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10 May 2024

Services

Spending on education is projected to increase by only 2.3% as the economy has yet to fully recover amid high household expenditures (Current Issue No.3491)

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8 May 2024

Services

Turnover within the hotel and accommodation business projected to improve steadily during 2024, but competition will remain intense and there is uneven recovery seen across the sector (Current Issue No.3489 Full Ed.)

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22 Apr 2024

Industry

The development of battery electric vehicle (BEV) production base in Thailand may help reduce the impact on the supply chain of petrol-powered vehicles to THB210 billion over the next decade. (Current Issue No.3485 Full Ed.)

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19 Apr 2024

Services

Digital wallet program expected to boost 2024 retail sales by only 1% from our prior estimate (Current Issue No.3483)

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10 Apr 2024

Real Estate and Construction

Number of home ownership transfers may contract at a slower rate in 2024, thanks to measures aimed at boosting the housing market (Current Issue No.3482 Full Ed.)

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5 Apr 2024

Services

Drugstores in 2024 are expected to see sales growth of 4.0%, with the market becoming more competitive due to the proliferation of chain stores (Current Issue No.3480 Full Ed.)

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5 Apr 2024

Real Estate and Construction

Residential market in the Bangkok metropolitan area expected to contract for the second consecutive year in 2024 (Current Issue No.3481 Full Ed.)

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28 Mar 2024

Agriculture

Thailand’s maize imports projected to increase 5.2% in 2024 and almost all maize imports will come from CLM (Current Issue No.3477 Full Ed.)

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27 Mar 2024

Agriculture

Farmgate pig prices expected to fall by 10.2% YoY in 2024, putting pressure on domestic pig production (Current Issue No.3476)

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25 Mar 2024

Industry

Thai steel prices projected to fall by 6% YoY in 2024 due to intense competition from imported steel from China (Current Issue No.3475 Full Ed.)

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21 Mar 2024

Industry

Domestic car sales projected to contract 3% YoY, despite a price war among automakers to increase sales and market share (Current Issue No.3472 Full Ed.)

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19 Mar 2024

Agriculture

Thailand’s natural rubber exports to the EU to grow by 7% in 2024, driven by its readiness to follow the EUDR (Current Issue No.3471 Full Ed.)

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14 Mar 2024

Real Estate and Construction

Total value of construction investment in 2024 set to grow by 1.9%, with expected disbursement of public investment in the second half(Current Issue No.3469)

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8 Mar 2024

Industry

Turnover in the car dealership business projected to shrink 15% in 2024 (Current Issue No.3466)

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8 Mar 2024

Tourism

Number of international tourist arrivals in Thailand projected to reach 36 million in 2024 (Current Issue No.3468)

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8 Mar 2024

Services

Road freight transport produces high level of carbon emissions; technological limitations and high costs hinder decarbonization efforts (Current Issue No.3467 Full Ed.)

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6 Mar 2024

Energy

Feasibility of nuclear power plants in Thailand (Current Issue No.3464 Full Ed.)

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5 Mar 2024

Agriculture

Exports of Thai chicken products projected to grow 2.0% YoY in 2024, which would be lower than the average growth seen before (Current Issue No.3462)

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4 Mar 2024

Services

Thailand’s data center market to grow more than 31 percent per year, lagging behind Malaysia (Current Issue No.3461 Full Ed.)

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23 Feb 2024

Services

Greenhouse gas (GHG) emissions from hotels in Thailand are found to be high compared to those of other Asian countries (Current Issue No.3460 Full Ed.)

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20 Feb 2024

Industry

The electric power, cement, iron & steel, fertilizer, and aluminum industries are set to be pressured by measures aimed at reducing greenhouse gas (GHG) emissions (Current Issue No.3458)

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16 Feb 2024

Agriculture

Thailand’s fresh durian exports to China recorded a 10-fold increase over the past 6 years, while it is expected that Thai durian shipments to China will grow 12 percent YoY in 2024 (Business Brief No.4036)

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14 Feb 2024

Services

Retail sales in 2024 are expected to grow by 3.0 percent; Thai manufacturers face intense competition from Chinese products (Current Issue No.3457)

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7 Feb 2024

Agriculture

The value of Thai rice exports may decline by 13% in 2024 as India will likely resume rice exports after its general election (Current Issue No.3455)

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2 Feb 2024

Services

Decline in market value of food delivery expected for 2024 (Current Issue No.3452)

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19 Jan 2024

Tourism

Number of Chinese tourists visiting Thailand has surged to the top spot (Current Issue No.3449)

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12 Jan 2024

Industry

The rapid growth of electric vehicles is expected to affect the future production of petrol-powered vehicles and parts (Current Issue No.3448)

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9 Jan 2024

Agriculture

Thailand’s native tapioca starch exports to China may not be bright in 2024 (Current Issue No.3447)

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22 Dec 2023

Services

Turnover in the healthy F&B market for the elderly projected to grow in 2024 amid rising senior population despite several challenges (Current Issue No.3446)

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8 Nov 2023

Industry

EU’s anti-subsidy investigation into EU imports of BEVs from China may affect Thailand’s BEV exports in 2024 (Current Issue No.3444)

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30 Oct 2023

Agriculture

Projected decline in China’s cereal imports may cause Thai cassava and rice exports to China to shrink in 2023 through to 2024 (Current Issue No.3443)

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27 Oct 2023

Services

Revenues from foreign patients projected to grow at a slower rate in 2024…correction of growth base to pre-COVID-19 levels (Current Issue No.3442 Full Ed.)

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25 Oct 2023

Energy

Renewable Energy Certificates – a green power alternative - continue to grow, amid demand outpacing supply (Current Issue No.3441 Full Ed.)

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18 Oct 2023

Tourism

Extension of visa-free stay for Russian tourists in Thailand set to bolster their arrivals during the rest of 2023 (Current Issue No.3440 Full Ed.)

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9 Oct 2023

Industry

BEV sales in Thailand are set to accelerate in contrast to total car sales by 2023 and 2024 (Current Issue No.3437)

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21 Sep 2023

Industry

CBAM poses major challenge of adaptation for Thai steel exporters to the EU (Current Issue No.3435 Full Ed.)

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15 Sep 2023

Services

Retail sales in 2024 will remain under pressure from fragile purchasing power,awaiting government support measures (Current Issue No.3433 Full Ed.)

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15 Sep 2023

Tourism

Visa-free entry program is a boon to Thailand’s inbound tourism with positive impacts beginning to be seen in 2024 (Current Issue No.3434 Full Ed.)

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1 Sep 2023

Real Estate and Construction

Housing market is still reeling from numerous challenges…Close attention must be paid to related government measures (Current Issue No.3431 Full Ed.)

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24 Aug 2023

Services

Restaurant business in 2023 is expected to expand by 7.1 percent YoY. Going forward, food waste management will help reduce costs and achieve net zero goal (Current Issue No.3429 Full Ed.)

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22 Aug 2023

Agriculture

Thai rubber prices set to plunge to THB43.2/kg on average or 16.4% YoY in 2023 amid weakening global demand (Current Issue No.3428 Full Ed.)

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2 Aug 2023

Real Estate and Construction

SMEs in the construction materials distribution business are facing increased competition from large players amid restricted purchasing competition (Current Issue No.3426 Full Ed.)

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20 Jul 2023

Agriculture

This year’s El Niño episode is expected to cause damage of around THB 48 billion to the Thai agricultural sector (Current Issue No.3424 Full Ed.)

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19 Jul 2023

Services

Food delivery platform service providers are accelerating plans to rebalance their businesses amid numerous challenges (Current Issue No.3423 Full Ed.)

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6 Jul 2023

Services

Private hospitals, 2023: Profitability projected to be pressured by higher operating costs and intense competition (Current Issue No.3421)

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5 Jul 2023

Energy

Thailand Taxonomy…Stringent criteria to achieve net zero goal and resulting challenges for the nation’s transport and energy sectors (Current Issue No.3420 Full Ed.)

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30 Jun 2023

Agriculture

Thailand's fruit exports in 2023 have grown, but production costs and volatile weather conditions continue to put pressure on businesses (Current Issue No.3418)

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23 Jun 2023

Real Estate and Construction

Thai steel prices in 2023 are set to fall due to slowing global demand…Environmental issues may lead to base price adjustment (Current Issue No.3417 Full Ed.)

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31 May 2023

Tourism

A surge of tourist arrivals is expected for the rest of 2023 to reach the full-year target of 28.5 million… Related businesses still face challenges, especially labour costs (Current Issue No.3416)

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30 May 2023

Real Estate and Construction

Eco-friendly housing development is trending but consumers are not yet ready to pay more (Current Issue No.3415 Full Ed.)

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30 May 2023

Industry

Despite accelerating BEV investment in Thailand, production of BEV components is seen across other countries (Current Issue No.3414 Full Ed.)

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26 May 2023

Trading

Pressure mounts on Thai solar cells’ alleged circumvention of AD/CVD measures…Operators may adjust their business plans sooner; Thai exports to the US in 2023 may face slower-than-expected growth (Current Issue No.3412 Full Ed.)

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17 May 2023

Agriculture

The Royal Ploughing Day marks the start of the rainy season and in-season rice cultivation, but El Nino during 2H23 may dent 2023 in-season rice output by 4.1-6.0% (Current Issue No.3410 Full Ed.)

The Royal Ploughing Day marks the start of the rainy season and in-season rice cultivation, but El Niño during 2H23 may dent 2023 in-season rice output by 4.1-6.0%... Read more

12 May 2023

Real Estate and Construction

Total value of construction investment in 2023 may shrink amid political uncertainty (Current Issue No.3409)

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9 May 2023

Agriculture

Farmgate prices of live pigs in 2023 may drop to THB 88-92 per kilogram, declining by 7.5-11.5 percent, putting pressure on pig farmers amid persistently high production costs (Current Issue No.3408 Full Ed.)

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8 May 2023

Services

Hotel and restaurant businesses remain fragile due to cost pressure (Current Issue No.3406)

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28 Apr 2023

Industry

PM2.5 problem caused by vehicular emissions in Bangkok requires various solutions (Current Issue No.3405 Full Ed.)

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11 Apr 2023

Energy

Hydrogen technology… Expected increase in demand for renewable energy to drive green hydrogen production (Current Issue No.3402 Full Ed.)

Hydrogen technology… Expected increase in demand for renewable energy to drive green hydrogen production... Read more

10 Apr 2023

Tourism

PM2.5 crisis could get much worse if it is not quickly dealt with (Current Issue No.3401)

PM2.5 crisis could get much worse if it is not quickly dealt with... Read more

8 Apr 2023

Industry

Despite surging car bookings at 2023 Bangkok International Motor Show, annual car sales may rest with the recovery in purchasing power (Current Issue No.3400)

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7 Apr 2023

Agriculture

Bird flu outbreak causes a drop in chicken products among trading partners, driving growth of Thai chicken exports in 2023 by 2.5-4.5 percent (Current Issue No.3397)

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7 Apr 2023

Industry

Supply chain restructuring … Increasing costs while pressuring margins among electronics businesses (Current Issue No.3399 Full Ed.)

Supply chain restructuring … Increasing costs while pressuring margins among electronics businesses... Read more

31 Mar 2023

Services

Number of food delivery orders is set to decline, with an 8.0% YoY contraction seen in 1H23 (Current Issue No.3395)

We at KResearch expect the number of food delivery orders in 2Q23 may shrink slightly from that reported in the previous quarter despite several supporting factors. ... Read more

27 Mar 2023

Industry

Non-alcoholic beverage market, 2023: Growing in line with marketing and advertising drives (Current Issue No.3394)

Non-alcoholic beverage market, 2023: Growing in line with marketing and advertising drives... Read more

24 Mar 2023

Industry

Carbon Capture Utilization and Storage (CCUS) (Current Issue No.3393 Full Ed.)

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22 Mar 2023

Industry

Thailand’s car exports in 2023 are set to rise by 1 percent to slightly more than 1 million units, while existing major markets shift to increase BEV imports (Current Issue No.3392)

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20 Mar 2023

Agriculture

Thai rice and cassava prices projected to increase during 2023 in line with stronger demand driven by China’s reopening (Current Issue No.3391)

Thai rice and cassava prices projected to increase during 2023 in line with stronger demand driven by China’s reopening... Read more

17 Mar 2023

Industry

Electronics exports, 2023: Shrinking 4.5 percent amid numerous challenges despite benefits from geopolitical issues (Current Issue No.3390)

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16 Mar 2023

Services

Cyber threats may cause consumers to purchase goods via B2C e-commerce with extra caution (Current Issue No.3389 Full Ed.)

Cyber threats may cause consumers to purchase goods via B2C e-commerce with extra caution... Read more

13 Mar 2023

Agriculture

Thailand's shrimp export growth expected to be in a range of -3.5 to 0.5 percent in 2023 amid a slowdown in major markets, despite demand from China (Current Issue No.3386)

Thailand's shrimp export growth expected to be in a range of -3.5 to 0.5 percent in 2023 amid a slowdown in major markets, despite demand from China... Read more

13 Mar 2023

Real Estate and Construction

Home sales, 2023: Remaining static or shrinking amid economic uncertainties, interest hikes and hefty household debts (Current Issue No.3387)

Home sales, 2023: Remaining static or shrinking amid economic uncertainties, interest hikes and hefty household debts... Read more

1 Mar 2023

Industry

Domestic BEV sales set to reach 50,000 units in 2023 (Current Issue No.3384)

Domestic BEV sales set to reach 50,000 units in 2023... Read more

24 Jan 2023

Trading

Thai exports grew 5.5% in 2022 while 2023 shipments projected to shrink at 0.5% despite China’s reopening (Business Brief No.3989)

Economic slowdown in Thailand’s trade partners during 2H22 and the high 2021 base caused Thailand’s outward trade in December 2022 to contract sharply for the third consecutive month at 14.6 percent YoY, equivalent to USD21,718.8 million. As a result, Thailand’s overall 2022 export growth stood at o... Read more

11 Jan 2023

Tourism

Chinese tourists projected to reach 4.65 million, driving rise in foreign tourist arrivals to 25.5 million in 2023 (Current Issue No.3380)

The Chinese authorities’ relaxation of quarantine rules for inbound travellers, cancellation of limited number of passengers on international flights from January 8, 2023, and resumption of the application and renewal of passports for Chinese residents, would benefit Thailand's tourism industry. As ... Read more

30 Dec 2022

Industry

Sales of PHEVs and BEVs in Thailand projected to reach 300,000 units by 2025 Despite increased demand for electric charging, there are investment risks in public charging points (Current Issue No.3379)

Thailand is transitioning towards a green vehicle society. KResearch is of the view that domestic sales of plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) may reach 300,000 units by 2025, suggesting that the demand for electric charging in the country will substantially... Read more

28 Dec 2022

Services

Retail business in 2023 … Growth continues amid numerous challenges (Current Issue No.3377)

KResearch views that retail sales in 2023 will see continual growth in line with economic conditions and consumer purchasing power. However, multiple challenges may persist. In 2023, the retail market is expected to expand by 2.8-3.6 percent YoY, thanks to the return of foreign tourists, rising prod... Read more