10 Jan 2025
Thai Economy
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20 Jun 2024
15 May 2023
Tourism will continue to be a key economic driver ahead despite the risk of global economic slowdown and uncertainty towards the formation of a new Thai government. KResearch maintains its growth forecast for the Thai economy in 2023 at 3.7%. ... Read more
Implementation of new economic policies promoted in election campaigns would have positive short-term impact on GDP growth, while leading to the challenge of an increased fiscal burden.... Read more
12 Jan 2023
Based on its survey findings, KResearch views that Chinese New Year in 2023 will likely see brighter prospects compared to last year, driven by the easing of the COVID-19 situation and the “Shop Dee Mee Khuen” (shop and payback) scheme. However, consumers’ spending behavior must be adjusted to accommodate their available budget. This is because prices of Chinese New Year offering sets are likely to increase compared to last year due to persistently high production costs. ... Read more
23 Dec 2022
The US Department of Commerce announced the results of its preliminary investigation, finding that some Chinese manufacturers had established production bases in four ASEAN countries, including Thailand, in order to circumvent US anti-dumping and countervailing duty (AD/CVD) measures. If finalized, the US determination means the Chinese companies will be subject to duties of 16-254 percent on the products they make in those countries. The duties will not come into force until mid-2024, thanks to a two-year exemption introduced by the US President this year.... Read more
18 Nov 2019
The Thai economic performance remained lackluster in 3Q19 due to a number of factors. These include the anemic global economy, partly as a result of the prolonged trade war, while the strong Baht continued to undermine the pricing competitiveness of Thai exports amid limited growth in public and private investment. However, household spending continued to support the Thai economy. Looking into 4Q19, we at KResearch expect that the Thai economy will exhibit almost the same picture as in 3Q19, though it will likely be driven by additional economic stimuli introduced by the government, with the aim of sustaining household spending, and steady recovery in the number of international tourist arrivals overall. As a result, 4Q19 GDP will likely improve over that seen in 3Q19, but this may not be sufficient to support 2019 economy to grow on a par with our prior estimate of 2.8 percent. We are of the view that 2019 GDP growth may lean towards the lower end of our projection band at not less than 2.5 percent.... Read more
15 Jan 2019
Greater Bangkok was last hit by the high level of hazardous dust particles at the end of 2017 through to the beginning of 2018. Air pollution blanketed capital again in January 2019, with the prospect of prolonged unhealthy air quality levels . This problem and the impacts of global warming or climate change are important issues that warrant close monitoring. Although it is relatively difficult to assess their impacts on the Thai economy, we at KResearch have attempted to do so, based on a number of assumptions,... Read more
15 Nov 2018
A number of infrastructure projects have exhibited satisfactory progress after the government’s announcement of an action plan to expedite large infrastructure investments in 2016-2018 with an important impetus being the Eastern Economic Corridor (EEC) program with THB trillions of investment. Completed construction include the Laem Chabang Port A project and the civil work under the Red Line Mass Transit System while ongoing projects are, for example, seven routes under the Double-Track Rail Project Phase 1, part of Contract No. 1 of the Thai-Chinese High-Speed Train Project (Bangkok-Nakhon Ratchasima), three Mass Transit Rail Projects in Bangkok, namely the Red, Pink and Yellow Lines. ... Read more
5 Oct 2018
2019 Inflation Projected to Increase by 0.7-1.1% Amid Surging Global Crude Oil Prices, Though the Figure Will Depend on Government Policy of Supervising Energy (Current Issue No.2930)... Read more
19 Feb 2018
The Thai economy in 4Q17 was buoyed by high growth in exports and tourism, while household consumption started to improve compared to... Read more
18 Jan 2018
The National Wage Committee recently agreed to raise the daily minimum wage to THB315.97, on average, or a range of THB308-330 across the country, effective April 1, 2018. The new rates vary by province and are split into seven rates, versus the four rates seen in recent years, because a set of new variables have been used with the new wage calculations.... Read more