3 Aug 2021
Econ Digest
KResearch expects the Monetary Policy Committee (MPC) to keep the policy steady at 0.5% at its meeting on August 4, 2021 to support Thailand’s economic recovery. Due to the rising risk of the COVID-19 pandemic and the soaring number of infections, the government must extend and adopt stricter contai... Read more
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29 Jul 2021
In June 2021, Thai exports hit their highest level in 11 years with robust growth of 43.82%YoY, above market expectations of 38.1% growth. While Thai exports in the first half of 2021 grew 15.53% YoY, the level was not high in comparison to the export growth of other regional countries, w... Read more
23 Jul 2021
KResearch projects that the market value of snack business will reach THB37.5 billion in 2021, representing a contraction of 4.0%YoY, against the 2.6% growth reported for 2020, due to the prolonged COVID-19 pandemic has caused consumers to be thrift and spend cautiously. As snacks are generally perc... Read more
19 Jul 2021
KResearch has revised the growth forecast for the Thai economy in 2021 down to 1.0%, from its previous forecast of 1.8%, because a more severe COVID-19 outbreak than previously estimated would lead to the need for stricter COVID-19 containment measures, with more of a negative impact on business sec... Read more
13 Jul 2021
The KR Household Economic Condition Index (KR-ECI) 2021 fell from 37.3 in May to 36.7 in June, while the 3-month Expected KR-ECI in June 2021 also dropped from 39.4 to 38.9 over the same period, suggesting that households were still concerned about the rising cost of living. Uncertainties about COVI... Read more
6 Jul 2021
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1 Jul 2021
China’s economic role in the CLMV has substantially increased over the past years, particularly in trade via a number of strategies, aimed at building its economic influence both physical connectivity and institutional connectivity, which has contributed to the acceleration of trade between CLMV and... Read more
29 Jun 2021
คาดกิจกรรมการซื้อที่อยู่อาศัยในกรุงเทพฯและปริมณฑลปี 2564 หดตัวต่อเนื่องเป็นปีที่ 3 โดยมีตัวแปรการฟื้นตัวที่สำคัญคือสถานการณ์โควิด19 ความคืบหน้าในการฉีดวัคซีน และแผนกระตุ้นเศรษฐกิจ ... Read more
28 Jun 2021
The International Monetary Fund (IMF) has revised upward its 2021 growth forecast for the global economy to 6.0% from the prior estimate of 5.5% to reflect its optimism on solid recovery in post-pandemic 2021. The recovery will be led by large economies, particularly the US and China, which may in t... Read more
25 Jun 2021
ส่งออกไทยเดือนพ.ค. 64 ขยายตัวสูงสุดในรอบเกือบ 11 ปีที่ 41.59% YoY และเมื่อหักสินค้าเกี่ยวเนื่องกับน้ำมัน ทองคำ และอาวุธ ยุทธปัจจัย ส่งออกไทยเดือนพ.ค. ขยายตัวที่ 45.87% YoY ส่งผลให้การส่งออกไทย 5 เดือนแรกปีนี้ขยายตัว 10.78% YoY และเมื่อหักสินค้าเกี่ยวเนื่องกับน้ำมัน ทองคำ และอาวุธ ยุทธปัจจัย การส่งออ... Read more
24 Jun 2021
Nano-finance has continued to grow since its first launch in 2015 but slowed down in 2020 due to the COVID-19 outbreaks. The major credit providers have suspended new lending due to the costs of customer screening and debt collection, resulting in a reduction in outstanding loan balance to THB17,441... Read more
22 Jun 2021
KResearch expects that the Monetary Policy Committee (MPC) will keep its policy rate on hold at 0.50% during the meeting on June 23, 2021, in order to support Thailand's economic recovery amid low inflationary pressures. The Thai economy remains fraught with risks from the COVID-19 outbreak with a c... Read more
18 Jun 2021
The global outbreak of COVID-19 and the intensifying trade and technology wars between the US and China have prompted multinational companies in various industries to recognize the vulnerability of the global supply chain and to diversify the concentration risk in China. ... Read more
16 Jun 2021
KResearch projects that the Federal Reserve (Fed) will maintain its policy rate within the range of 0.0-0.25% at its meeting on June 15-16, 2021. ... Read more
10 Jun 2021
Since the end of 2020, the global automotive industry has continued to experience chip shortages, mainly stemming from the structural vulnerability of the automotive chip manufacturing industry. Multiple reasons for fluctuation in chip supply and demand have added to the shortage, including COVID-19... Read more
9 Jun 2021
The National Electric Vehicle Policy Committee has set a challenging new target to achieve 100% of Thailand’s total vehicle production capacity as zero-emission vehicles (ZEVs) within 2035, to establish Thailand as one of the world’s key ZEV production bases. KResearch expects that this move will su... Read more
2 Jun 2021
After the Thai government approved the commercial use of hemp, effective from March 29, 2021, downstream industries have welcomed the decision and accelerated the planning of utilization and development of value-added products utilizing hemp. In particular, the food and beverage market has begun to ... Read more
1 Jun 2021
KResearch recently conducted a survey on views of parents towards the ongoing COVID-19 pandemic during the 2021 school year. The poll was made on a random sample of 600 persons in the Bangkok Metropolitan area. The survey suggests that 88.5% of the parents are concerned and have no confidence if the... Read more
31 May 2021
While the COVID-19 outbreak will continue to prolong and delay the economic recovery, factors affecting liquidity in Thailand’s financial system are increasing this year, both from the government’s need to increase spending to support the economy and from private funding through corporate bonds and ... Read more
28 May 2021
Thailand’s inflation data began to rise in April 2021, causing many parties to pay more attention to this issue as it comes at a time when the economy has not recovered yet. The headline inflation (CPI) rose to 3.41% in April this year, in line with inflation trends of many countries, although the a... Read more
27 May 2021
Competition in the beverage industry has continued to intensify recently, as evidenced by the launch of new products and the entry of new operators, which have affected the overhead costs of business. In addition, the global uncertainty surrounding the COVID-19 situation and the new wave of COVID-19... Read more
25 May 2021
24 May 2021
The Cabinet recently has resolved to approve an executive decree to borrow an additional THB700 billion on the top of the previous THB1 trillion loan. This additional borrowing decree will help enhance the government’s flexibility to revitalize the country’s economy. The actual use of the new loan w... Read more
21 May 2021
Like many countries around the world, Thailand is now facing accelerating inflation. Thailand’s inflation rose 3.41%YoY in April 2021, which accelerated from -0.08%YoY in March 2021. Although the rising inflation in April 2021 was caused by the low base from last year due to the impact of the first ... Read more
20 May 2021
The Thai economy in the first quarter of 2021 shrank 2.6%YoY, less than the market forecast of -3.3%, driven mainly by the global economic recovery and domestic stimulus packages.... Read more
19 May 2021
US inflation surged above market forecasts in April 2021: headline inflation rose 4.2%YoY while core inflation reached 3.0%YoY. Such increases were driven by improving domestic demand following accelerated vaccination efforts and continuous issuance of stimulus packages. On the other hand, supplies ... Read more
18 May 2021
The COVID-19 outbreak has accelerated the growth of mobile banking and e-wallet transactions. A survey conducted by KResearch found that Thai consumers conduct funds transfers and payments for goods and services 19 times per week via mobile banking and e-wallet applications, up from 17 times per wee... Read more
14 May 2021
On April 29, 2021, President Biden's 100th day address to the US Congress also holds significance for solving the COVID-19 crisis to restore the US economy, fiscal policy and international policy，especially stance towards China.... Read more
11 May 2021
KResearch expects that the third wave of the COVID-19 outbreak will cause domestic car sales in the second quarter of 2021 to be 150,000-155,000 units... Read more
10 May 2021
Agricultural product prices in the first four months of 2021 were mostly favorable, especially the prices of rubber, cassava, sugar cane and oil palm, reflecting through Agricultural Price Index that rose approximately 10.4%. Supportive factor was the demand both at home and abroad despite facing th... Read more
4 May 2021
KResearch expects that the Monetary Policy Committee (MPC) will keep its policy rate steady at 0.50% during the meeting scheduled for May 5, 2021 to support economic recovery... Read more
28 Apr 2021
KResearch has compiled key financial data from the consolidated financial statements of 9 commercial banks and their subsidiaries for the first quarter of 2021. The results reveal that these commercial banks and their subsidiaries recorded a net profit of THB46.071 billion, or a growth of 47.4%QoQ c... Read more
27 Apr 2021
KResearch projects that the Federal Reserve (Fed) will maintain its policy rate within the range of 0.0-0.25% at its meeting on April 27-28, 2021. While the US economy has shown signs of recovery following expedited vaccination efforts, with business activities able to return to normal amid the cons... Read more
26 Apr 2021
The Thai government has removed particular parts and extracts of cannabis and hemp from its list of illegal drugs (except for cannabis inflorescences and seeds), effective from December 15, 2020 onwards. This move has sparked widespread interest both from consumers and producers, and has brought up ... Read more
23 Apr 2021
Thailand's xEV vehicle registration in the first two months of 2021 was 9,164 units, or a growth of 42.6%YoY. KResearch expects that if the new outbreak of COVID-19 can be contained, in tandem with automobile manufacturers’ market promotion for xEVs being in the range of lower than THB1 million, the... Read more
Amid positive signs seen in the global economic recovery, Myanmar is experiencing political turmoil at home. The country's image in the eye of Western nations is at peril after the US suspended the Trade and Investment Framework Agreement (TIFA) that it had entered into with Myanmar in 2013. This me... Read more
22 Apr 2021
China's economy in 1Q21 grew 18.3%YoY, this surge was primarily attributed to a low base in 1Q20. On a QoQ basis, which may better depict the present economic growth, China's economy grew by a mere 0.6% due to the fragility of private consumption, the uneven recovery of the manufacturing sector and ... Read more
21 Apr 2021
KResearch projects that the Thai economy will grow at slow rate of only 1.8% in 2021, against prior estimate of 2.6%, because the current COVID-19 pandemic in the country is much worse than the previous one. The increased concern over the domestic COVID-19 situation has prompted consumers to adjust ... Read more
20 Apr 2021
The latest figures from the Ministry of Tourism and Sports show that domestic tourism in Thailand surged by more than 30% in February 2021 compared to January 2021, when the country was hit hard by the second wave of COVID-19. Thailand’s domestic tourism market was again hit hard by the third outbre... Read more
19 Apr 2021
Thailand has reported a record daily rise in confirmed COVID-19 cases for several consecutive days after entering a new wave of the pandemic. On April 16, 2021, Thailand’s COVID-19 reproduction rate set a record high at 2.28%, which was higher than the world’s average rate at 1.11% and was also high... Read more
16 Apr 2021
The KR-ECI rebounded to 40.4 in March 2021 from 39.5 in February 2021 due to the easing of outbreak control measures prompted by the improving COVID-19 situation, with the cancellation of all red zones and with all restaurants and entertainment venues being allowed to operate during specified shorte... Read more
12 Apr 2021
Vietnam's economy in 1Q21 grew 4.48 percent YoY, below expectations, owing to the impact of COVID-19 outbreak in early 2021. As a result, domestic consumption and economic activity have only seen limited recovery. Likewise, foreign direct investment (FDI) has also experienced a slowdown, particular... Read more
5 Apr 2021
According to the latest report on loans to household in 4Q20, household debt exceeded THB14 trillion as of the 2020 year-end, which is the highest ever recorded in 18 years. This figure amounts to 89.3 percent of 2020 GDP. In terms of growth, outstanding household debt, however, grew only 3.9 percen... Read more
1 Apr 2021
The application of technologies in restaurant businesses: only paying attention to business fundamentals is not enough to cope with the rapidly changing business environment.... Read more
30 Mar 2021
The Suez Canal is a fast channel for ocean cargo transportation between Asia and Europe which can save fuel costs and shorten transit time between the two regions. The incident in which the Ever Given, a huge cargo ship, ran aground on the Suez Canal causing a channel blockage will have a serious i... Read more
23 Mar 2021
KResearch assesses that the Monetary Policy Committee (MPC) will likely keep its policy rate steady at 0.50% during the meeting scheduled for March 24, 2021 ... Read more
16 Mar 2021
KResearch assesses that the US Federal Reserve (Fed) will likely maintain its policy rate at 0.0-0.25% during the upcoming FOMC meeting that is slated for March 16-17, 2021. Although the US economy exhibits signs of recovery, it may take a while to fully bounce back, thus prompting the Fed to keep i... Read more
8 Mar 2021
24 Feb 2021
Thailand's outward trade posted steady growth over-month in January 2021 as the global economy began to recover. Excluding gold, Thai exports increased 6.3%, suggesting stronger demand for Thai products abroad, in particular automotive accessories, which surged 18.8%YoY. Shipments of work-from-home ... Read more
16 Feb 2021
Quantitative easing (QE) is an unconventional form of monetary policy tool which is typically used by central banks of many countries and regions, including the United States, Europe, the UK and Japan, in helping address their economic woes after having to cut their policy interest rates to near 0%.... Read more
8 Feb 2021
More dynamic relationships between Myanmar and Western powers have been imperative in the development of Myanmar's economy over the past decade. As a result, the country has reported relatively impressive economic growth on the back of increased foreign investment, thus helping bolster its exports a... Read more
29 Jan 2021
The Federal Reserve (Fed) ended its first meeting of 2021 on the night of January 27, 2021 (Thailand time) with the following highlights: ... Read more
27 Jan 2021
The yields in the Thai bond market tend to gradually rise in 2021, especially medium term to under 10-year government bonds, due to two major factors: 1) the possibility of rising US treasury bond yields if the US is able to control the outbreak of COVID-19 and the approval of President Joe Biden’s ... Read more
26 Jan 2021
KResearch projects that the Federal Reserve (Fed) will keep the US policy rate within the range of 0.00-0.25 percent, without announcing any additional monetary easing tools, at the upcoming Federal Open Market Committee (FOMC) meeting to be held on January 26-27, 2021. While the Fed is expected to ... Read more
25 Jan 2021
The COVID-19 pandemic continues to persist worldwide, including in Thailand. In spite of this, hopes for COVID-19 vaccines, less stringent lockdown measures than the previous round of the pandemic and economic stimulus measures introduced by many countries supported Thai exports in December 2020 to ... Read more
22 Jan 2021
A new outbreak of COVID-19 that tends to become more severe has made it necessary for the authorities of many countries to urgently launch additional measures in order to help those affected and limit the risks that may occur to overall economic recovery. A clear example is that the US has released ... Read more
21 Jan 2021
The economy of China in the fourth quarter of 2020 grew by 6.5%YoY, amounting to full-year growth that exceeded projections, at 2.3% YoY. The figures reflect China's success in efficiently controlling the COVID-19 pandemic and implementing both monetary and fiscal stimuli in a timely and effective m... Read more
20 Jan 2021
On December 30, 2020, the US Department of Commerce announced affirmative preliminary determinations in the antidumping duty (AD) investigations of passenger vehicle and light truck tires from Thailand, Taiwan, South Korea and Vietnam. Its final determinations in these cases are scheduled for mid-20... Read more
19 Jan 2021
Thai agriculture remained stable in 2020, supported by agricultural products prices that surged 4.5%YoY due to the drought that led to a huge drop in production in the first half of 2020. The exports of Thai agricultural products during the first 11 months of 2021 contracted only 3.9%YoY, putting le... Read more
18 Jan 2021
Soy milk is a common plant-based drink that is available in both freshly boiled and ready-to-drink bottled/boxed forms, and currently holds the largest market share in the plant-based milk beverage market. The soy milk beverage market has become increasingly competitive due to the entry of new opera... Read more
16 Jan 2021
During this period, investors in the stock market have probably heard the term “low free float shares” almost every day, because it is one of the suspicious factors that have caused the stock market to fluctuate so much recently. However, for new investors to learn more, they must first take a step ... Read more
15 Jan 2021
The restaurant industry in 2021 is still as highly risky as it was in 2020. The new wave of local COVID-19 transmissions, fierce competition among businesses and yet-to-recover purchasing power will affect any recovery of restaurants in 2021 to varying degrees. Full-service restaurants may recover o... Read more
14 Jan 2021
It is commonplace in Thailand to harvest sugarcane supplied to sugar mills by burning the sugarcane before cutting it, with an average of up to 65.5% of sugarcane being burned in the past 10 crop years. This practice increases local PM2.5 dust, in addition to resulting in payments to farmers being r... Read more
13 Jan 2021
Households were concerned about the overall economic and living conditions in December 2020 as well as for the following three months. The KR Household Economic Condition Index (KR-ECI) and the 3-month Expected KR-ECI fell from 41.0 and 41.1 in November 2020 to 40.2 and 40.7 respectively in December... Read more
12 Jan 2021
The US designated Vietnam as a currency manipulation country, primarily due to Vietnam's interference in the Dong as evidenced by Vietnam’s net foreign currency purchases, which were equivalent to 5.1 percent of GDP, exceeding the benchmark set at 2.0 percent of GDP. The State Bank of Vietnam (SBV) ... Read more
11 Jan 2021
The United Kingdom (UK) and the European Union (EU) have finally reached an agreement prior to the end of the transition period in their post-BREXIT relationship. From January 1, 2021, both parties will continue to trade goods without import duties as before. KResearch views that the agreement will ... Read more
7 Jan 2021
Since the start of 2021, major global and Asian currencies, including the Chinese Yuan, have continued to strengthen while the US dollar has been facing sell-off, pressured by the Fed's quantitative easing and the US presidential transition. Meanwhile, the Thai Baht's value has surged past the level... Read more
With exports of non-inverter air conditioners on a decline trend over the past year, Thailand has the opportunity to benefit from the increased demand for general inverter air conditioners in emerging countries. However going forward, in addition to its original competitor China, Thailand may face c... Read more
6 Jan 2021
The auto hire purchase industry is another area that has been affected by the COVID-19 pandemic. The outstanding balance of auto loans in the commercial banking system at the end of 3Q20 had grown at a slower pace of 3.5 percent. The slowdown resulted from a decrease in newly approved credit and a d... Read more
In the first 9 months of 2020, the revenue of listed private hospitals declined 14.2 percent (YoY) and the profit declined 54.8 percent (YoY). Under the assumptions of no second wave of local COVID-19 outbreak, of the government's gradual easing of travel restrictions to allow for more international... Read more
5 Jan 2021
In recent years, it has become clear that the US has increasingly taken a variety of measures to protect its trade interests with its international trading partners. On 16th December 2020, the US Department of Treasury labeled Vietnam as a currency manipulator to benefit its exports in the report of... Read more
30 Dec 2020
The domestic auto market has been severely affected by the COVID-19 pandemic. KResearch projects that sales in the Thai automotive industry in 2020 will reach 770,000 units, a contraction of 23.6% YOY. However, the trend for vehicle sales in Thailand will have a chance to rebound in 2021, provided t... Read more
29 Dec 2020
The new wave of the COVID-19 pandemic has dealt a blow to Thai tourism, which had just begun to bounce back. Although the government has issued measures to control the COVID-19 outbreak, it has yet to restrict cross-provincial travel. A KResearch survey shows that more than 54.8% of Bangkok resident... Read more
KResearch views that overall construction costs may increase by approximately 1.03-1.33% per project in 2020, as COVID-19 preventive measures may drive up construction costs by 0.2-0.5% per project while labor costs will rise by another 0.83% per project due to labor shortages. ... Read more
28 Dec 2020
Thailand is the world's second largest exporter of rubber gloves. In the first ten months of 2020, the export value of Thai rubber gloves reached USD1.7251 billion or grew by 72%YoY, in which medical surgical gloves accounted for 15% of the total export value while other types of gloves (including g... Read more
25 Dec 2020
Thai exports exhibited improving signs in November 2020 by shrinking only 3.65%YoY compared with a 6.71%YoY contraction in October 2020. Excluding oil-related products, gold and arms, November exports contracted only 2.09%YoY.... Read more
23 Dec 2020
A new wave of COVID-19 originating from the shrimp market in Samut Sakhon province has led to an increase in infection cases and resulted in a lockdown in this province from December 19, 2020 to January 3, 2021. Infected individuals have been found to have spread to many areas in multiple provinces.... Read more
22 Dec 2020
KResearch assesses that southern rubber and palm oil growers may lose approximately THB6.6 billion in income due to the impact of flooding from December 2020 to March 2021. ... Read more
19 Dec 2020
The U.S. Department of the Treasury (USDT) publishes the report of the Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States twice a year, in order to review and monitor its trading partners’ policy directions. The U.S. has set three conditions/criteria in determ... Read more
18 Dec 2020
KResearch expects that the Monetary Policy Committee (MPC) will keep its policy rate steady at 0.50% during the meeting scheduled for December 23, 2020, since there are signs of gradual recovery in the Thai economy. Meanwhile, the economy is expected to benefit continuously from the Thai government’... Read more
14 Dec 2020
KResearch assesses that the Federal Reserve (Fed) will likely keep its policy rate steady at 0.00-0.25% and will not announce additional monetary easing tools during the Federal Open Markets Committee (FOMC) meeting slated for December 15-16, 2020, ... Read more
10 Dec 2020
A survey conducted by KResearch on spending behavior of Bangkok residents during the 2021 New Year festival shows that 42.5% of respondents are choosing to celebrate the festival in Bangkok to avoid traffic jams, as some respondents have been traveling during the long-holiday since the beginning of ... Read more
8 Dec 2020
Gold has been one of the most profitable assets of 2020. On December 4, 2020, the spot gold price in the global market rose 21% from the end of last year to USD1,840 per ounce, while the domestic gold price rose 22% to THB26,250 per Baht(Thai unit of measurement). For new investors interested in inv... Read more
4 Dec 2020
Although the latest EV promotion package which expired at the end of 2018 received a good response, reflected by the number of companies applying for investment promotion, only some of them have made actual investments, due to the impact of various factors such as the continuing limitations of globa... Read more
3 Dec 2020
The increase in Thailand’s total population and the proportion of the elderly population resulting in an aging society are pressures on the management of the public health system, and the government’s public health budget is expected to continuously increase. An analysis of Thailand’s the public hea... Read more
2 Dec 2020
The export of Thai auto parts to the US market must be changed now that Donald Trump has announced the suspension of GSP privileges, which went into effect January 1, 2021, and which brought back a 2.5% import tax after the tax was waived under GSP. The auto parts that have had GSP privileges suspen... Read more
26 Nov 2020
On November 20, 2020, the Bank of Thailand (BOT) issued measures aimed at easing pressure on Baht to help balance the flow of funds into and out of Thailand. One of the measures announced on the same day was regarding BOT’s foreign currency deposit (FCD) account, which allows Thais to deposit funds ... Read more
25 Nov 2020
Prior to the government under the leadership of Aung San Suu Kyi, the value of foreign investment in Myanmar averaged only USD2.083 billion per year, with China as the largest foreign investor in the country, aiming at investment in natural resources such as copper, iron and jade mining, etc. Since ... Read more
24 Nov 2020
While the global economy shows a continued recovery, Thai exports shrank by 6.71 YoY in October 2020 to USD19.37 billion, but minus related petroleum products, gold and munitions, exports fell by 4.89%, resulting in Thai exports shrinking by 7.26 percent YoY in the first 10 months.... Read more
23 Nov 2020
There was an influx of capital flows in Thai stock and bond markets after the US Presidential election and amid hopes for COVID-19 vaccines. During November 1-19, 2020, such capital flows reached THB69.7 billion, representing the highest level in 17 months, while the Baht hit a new 10-month high of ... Read more
20 Nov 2020
Electric vehicles (EVs) have increasingly made their presence felt within ASEAN; in particular, investment in EV production is growing fast in Thailand and Indonesia. Currently, Thailand has an edge over Indonesia in terms of EV manufacturing, thanks to its complete auto-parts supply chain and highe... Read more
18 Nov 2020
The Thai economy in the third quarter of 2020 contracted at a better-than-market-expected rate of -8.0% YoY as economic activities recovered, partly due to a smaller-than-expected contraction in exports from pent-up demand after the easing of lockdown measures in Thailand and many other countries. M... Read more
Preliminary results show that Joe Biden from the Democratic Party has been elected the 46th President of the US, leading to a major shift in investment portfolios around the world. Thai stock and bond markets are among Asian money and capital markets that benefited from this shift of investment. ... Read more
The KR Household Economic Condition Index (KR-ECI) increased from 38.1 in September 2020 to 39.5 in October of the same year... Read more
17 Nov 2020
KResearch expects that the Monetary Policy Committee (MPC) will keep its policy rate steady at 0.50% during the meeting scheduled for November 18, 2020 ... Read more
16 Nov 2020
Food Delivery is one of the most popular and attractive industries during and after the spreading of COVID-19. It has grown due to changes in consumer behavior and investment by domestic and foreign food delivery platform operators. KResearch projects that the number of food deliveries for the whole... Read more
13 Nov 2020
In the world of agricultural production, products that require an efficient water footprint are becoming increasingly important and will play an ever more significant role in agriculture in the future. Products with a low water footprint will gain more attention from consumers who are aware of water... Read more
11 Nov 2020
In 2020, we have seen fluctuations in asset prices around the world, including gold, stock and alternative assets such as Bitcoin. Although all assets have faced heavy selloffs from investors seeking liquidity during the COVID-19 pandemic, the prices of various assets have gradually recovered after ... Read more
10 Nov 2020
Thailand's domestic tourism market has been continuing to grow after the COVID-19 situation in the country eased and the government launched measures to stimulate domestic tourism. Based on data provided by the Ministry of Tourism and Sports, the number of domestic tourists in the third quarter of 2... Read more
9 Nov 2020
Under the assumptions that there will be no serious resurgence of the coronavirus (COVID-19) pandemic in Thailand, that the majority of people in Thailand will receive COVID-19 vaccines in late 2021, and that the domestic political situation will not significantly impede the government’s budgetary d... Read more
5 Nov 2020
Thai exports to the US in 2021 will mainly benefit from the recovery of the US economy, which is expected to have passed its lowest point this year. Meanwhile, the policies of the new US leader will become another factor that simultaneously drive the US economy and support Thai exports to accelerate... Read more
30 Oct 2020
The hotel and accommodation industries are sectors of the tourism industry that have been hard hit by the coronavirus (COVID-19) pandemic, and especially in the first half of 2020 have suffered a revenue loss of approximately THB256 billion due to the absence of foreign and Thai tourist arrivals. Th... Read more
28 Oct 2020
For the past several years, Thailand's steel industry has encountered challenges that stem from price competition against steel imports from China due mainly to steel oversupply in China’s market. Since 2014, Chinese steel manufacturers have cleared out their excessive stock via exports to markets i... Read more
27 Oct 2020
Regarding the 2020 US presidential election held on November 3, 2020, KResearch views that if Joe Biden becomes the new President, the US economy may grow at least 3.0% in 2021, which would be higher than the projected growth of less than 2.0% in the case where Donald Trump secures his reelection du... Read more
26 Oct 2020
Thai exports in September 2020 stood at USD19.6213 billion, or a contraction of 3.9%YoY, amid a rise in global demand compared to the previous month. Thai exports over the first nine months shrank 7.3%YoY, driven by the exports of electronic products and electrical appliances that grew 11.6% after f... Read more
22 Oct 2020
The Chinese economy in the third quarter of 2020 grew 4.9%YoY, continuing the positive trend from the second quarter of 2020 in which a 3.2% growth YoY was seen. This expansion can be attributed to the gradual recovery of private consumption, particularly retail sales that grew 3.3% YoY in September... Read more
19 Oct 2020
The government has introduced a series of spending stimulus measures. Among them is the “Kon La Khreung” program (Let’s Go Halves or the government’s 3,000-Baht cash handout program) to help small daily necessity product retailers, such as “Blue Flag” stores, groceries and small retail shops. ... Read more
16 Oct 2020
After being hit by the COVID-19 pandemic, especially during the lockdown period, many business organizations in Thailand have implemented work-from-home measures. Therefore, the continuity of business activities has become an urgent task and will support cloud solutions services in 2020 to grow expo... Read more
15 Oct 2020
The KR Household Economic Condition Index (KR-ECI) in September 2020 stood at 38.1, improved slightly over that reported for August 2020, suggesting that Thai households were more optimistic about their living conditions. The 3-month Expected KR-ECI also increased to 39.7 in alignment with the gradu... Read more
14 Oct 2020
Kin Jae (Vegan Food) Festival this year will fall on October 17-25, 2020. Normally, the festival is well received by regular consumers groups including Thai-Chinese people who eat vegan food as a religious practice, and new-generation consumers who eat vegan food for health purposes. However, sluggi... Read more
12 Oct 2020
The coronavirus (COVID-19) pandemic has caused unprecedented losses for tourism activities around the world. In the first half of 2020, the number of international tourists decreased by more than 439 million compared with the same period last year, and the loss in international tourism revenue was a... Read more
9 Oct 2020
The government has launched its “Shop Dee Mee Kuen” program (Shop and Payback), which offers taxpayers income tax deductions when spending up to THB30,000, in order to stimulate consumption over the 70 day period from October 23rd to December 31st 2020. KResearch expects that the program will help b... Read more
8 Oct 2020
Under the Digital Personal Loan Business Rules issued by the Bank of Thailand on September 15, 2020, lenders can use alternative data, e.g. receipts from water bills, electricity bills and telephone bills, as well as online spending information, to assess the borrowers’ ability or willingness to rep... Read more
7 Oct 2020
In September 2020, China sent positive signals regarding its 14th Five-Year Plan for National Economic and Social Development (2021-2025), which will be implemented starting in 2021. In particular, the issue of increasing food reserves as a source of food security again at an accelerated pace may le... Read more
6 Oct 2020
The total market value of Thailand’s medical equipment and device industry in 2019 exceeded THB90 billion. Medical equipment and devices are divided into: 1. Disposable medical supplies such as medical gloves, syringes and catheters; 2. Durable medical supplies such as hospital beds and wheelchairs;... Read more
5 Oct 2020
The Ministry of Commerce has announced the Notification Regarding the Prohibition of the Importation of Electronic Waste into the Kingdom B.E. 2563, effective from September 15, 2020, in an effort to save the environment and protect public safety. ... Read more
The latest report from the Bank of Thailand revealed that Thailand’s 2Q20 household debt had risen following the disruption of economic activities during the COVID-19 pandemic. The outstanding household debt hit an 18-year high of 83.8% of the GDP, rising from 80.1% of the GDP recorded during 1Q20. ... Read more
3 Oct 2020
Money and capital markets fluctuated following the news that US President Donald Trump had been diagnosed with coronavirus (COVID-19). Risky assets experienced sell-offs, while the direction of the US Dollar was mixed (it largely depreciated against the Yen but appreciated against other currencies).... Read more
2 Oct 2020
The new stimulus package called “Kon La Khreung” (Let’s Go Halves or the government’s 3,000-Baht cash handout program), effective October-December 2020, sets conditions that differ from previous spending stimulus measures. In addition to the subsidy that is capped at 10 million people and at THB3,00... Read more
1 Oct 2020
Amid the rising plastic waste crisis, where Thailand is among the countries throwing the most plastic waste into oceans, we have seen cooperation between government agencies and private sectors in launching campaigns and incentive measures to reduce the use of plastics from January 1, 2020, a good s... Read more
30 Sep 2020
Presently, cross-border data flows are imperative for business expansion and global trade as they have driven global economic growth by 0.3%, or around USD2.6 trillion in value, over the past decade. Business organizations must rely on cross-border data flows in order to better understand the market... Read more
25 Sep 2020
Myanmar has recently announced several requirements for truck drivers from Thailand: It is now necessary for drivers crossing the Myanmar border via Chiang Rai’s Mae Sai checkpoint to be replaced with Myanmar nationals. Furthermore, only six vehicles of any kind bearing Thai license plates are allow... Read more
24 Sep 2020
After the 5G spectrum auction took place in early 2020, telecommunications operators have accelerated their investment in 5G networks covering all 77 provinces across the country, especially in cities that are the potential areas for 5G services, in order to compete for leadership within the realm o... Read more
23 Sep 2020
Thailand is a major fruit production base globally; although the world economy is facing a crisis due to the COVID-19 outbreak in 2020, the total value of Thai fruit exports this year should be able to sustain a growth to THB120-150 billion, or 6.1-10.5% year-on-year. Along with the need to accelera... Read more
22 Sep 2020
Animal welfare is becoming a widely discussed topic in the food industry. Eggs produced by cage-free laying-hens, also known as “cage-free eggs”, are one of the products for which the Department of Livestock Development is preparing to set standards for certification, in addition to other production... Read more
KResearch expects that the Monetary Policy Committee (MPC) will keep its policy rate steady at 0.50% at least until the end of this year during its meeting slated for September 23, 2020 to maintain the monetary policy space. The MPC may view that a policy rate cut to near zero is not necessary at th... Read more
21 Sep 2020
Amid the domestic political turmoil that the UK has grappled with since the initiation of the Brexit process in 2016, and based on the approaching time constraint and the latest development whereby the UK government plans to introduce the drafting of the Internal Market Bill which would allow the UK... Read more
18 Sep 2020
The Prime Minister’s Office has issued a proclamation of Prohibition on Sales of Alcoholic Beverages by Electronic Means B.E. 2563 on August 7, 2020, the main contents of which are: 1) It is prohibited for any person to sell alcoholic beverages or provide services related to alcoholic beverages dire... Read more
17 Sep 2020
The KR Household Economic Condition Index (KR-ECI) in August 2020 and the 3-month Expected KR-ECI stood at 36.4 and 38.4 respectively, increased from the survey in July 2020, suggesting that the perception of households towards living conditions improved in line with the relaxation of lockdown measu... Read more
15 Sep 2020
Although Thailand’s beverage business has recently shown a slowing trend, it is expected that healthy beverages will become products that meet the needs of the new generation of consumers. In particular, vitamin water (a category of water plus beverages) has become an interesting new segment of the ... Read more
KResearch expects that the Federal Reserve (Fed) will maintain its policy rate at 0.0-0.25% at its meeting during September 15-16, 2020, ... Read more
14 Sep 2020
The COVID-19 pandemic has been an important catalyst in transforming the way Thai consumers conduct funds transfers and pay for goods and services. Such trends have given rise to the “New Normal”, which is geared towards making money transfers and purchases that do not require physical contact, othe... Read more
11 Sep 2020
The Chinese e-commerce market is the largest in the world with a value of around USD1.5 trillion in 2019, accounting for approximately 55% of the global e-commerce market value, and larger than the value of the US e-commerce market by two times. As the economy grows and purchasing power rises, Chine... Read more
10 Sep 2020
The end of the London Interbank Offered Rate (LIBOR) began about eight years ago when financial regulators in the US and Europe discovered that certain financial institutions deliberately reported distorted and false LIBOR rates for certain benefits. The incident severely damaged the credibility of ... Read more
9 Sep 2020
The Federal Reserve (Fed) Chairman Jerome Powell announced a major adjustment to monetary policy at the Economic Policy Symposium held in Jackson Hole on August 27, 2020. The Federal Open Market Committee (FOMC) has unanimously approved a shift in Longer-Run Goals and Monetary Policy Strategy, by ad... Read more