Government will not re-capitalise struggling Thai Airways The State Enterprise Policy Office says the government will not back a billion-baht cash injection for Thai Airways. Pantip Sripimol from the SEPO says the Finance Ministry will not re-capitalise the carrier, although it remains its largest shareholder. The Bangkok Post reports that there are concerns Thai Airways…
Thailand Consumer Confidence Index hits record low The University of the Thai Chamber of Commerce has reported that the Consumer Confidence Index has hit another new record low of 46.0 in April. The Covid-19 global pandemic has had a devastating effect on the economy and consumer confidence has fallen frequently to the lowest points that…
Commerce Ministry tightens controls on delivery services to prevent profiteering BANGKOK (NNT) – The Ministry of Commerce has tightened controls on delivery services during the pandemic to prevent operators profiteering, as online orders have surged. Mr Wattanasak Sur-iam, Director-General of the Department of Internal Trade (DIT), said today the Commerce Ministry has been monitoring delivery…
Consumer confidence index at its lowest point since the 1997/98 economic crisis Thailand’s Consumer Confidence Index plunged to 46 points in April from 48.5 points in March, the University of Thai Chamber of Commerce (UTCC) said in a press release on Thursday. The UTCC, which compiles the monthly reports, said that the index was its…
Thai shippers upbeat about 6-7% growth Thai shippers upgraded their export growth forecast to 6-7% this year from a 3-4% projection in December, helped by the global economic recovery, economic growth in major trading partners and healthy exports of industrial products such as automobiles, electrical appliances, equipment and parts, and oil-related products such as plastic…
Thai Rice Exports Drop 23% in First Quarter Year on Year Thailand’s rice exports fell by 23% in the first quarter year-on-year, to 1.13 million tons, because of higher prices than those offered by competitors. Thai Rice Exporters Association president Charoen Laothammatas said export value, from January to March, dropped to 21.8 billion baht, down…
Bank of Thailand Keeps Key Interest Rate at Record Low BANGKOK (NNT) – The Bank of Thailand (BoT) has kept its key interest rate unchanged, keeping it at a record low of 0.5% on Wednesday, as the economy struggles with a third wave of COVID-19. The central bank said in a statement that economic growth…
Thailand increases durian exports to China by 14% this year Thailand has exported 14% more durian to China in this year’s first quarter over the same period last year. The Trade Negotiations Department Director General says Thai durian auctions in the first quarter secured 186 million, making up 88% of the total amount of Thai durian…
GDP forecast dropped to 1-2% with best, middle and worst case scenarios Mass vaccination will be the key stop the slump in economic growth after the Bank of Thailand revised their 2021 GDP forecast to between 1 – 2%. They had previously estimated a 3% growth in the gross domestic product but are now creating…
Thailand jumps on the electric bandwagon, aims to become EV production hub The Thai government has ambitious plans to turn the Kingdom into a Southeast Asian hub for the manufacture of electric vehicles. Nikkei Asia reports that big companies in Thailand are preparing to invest substantially in the greener mode of transport, after the National…