International credit rating agency gives Thailand a BBB+ economic report card Fitch Ratings has revised its outlook on Thailand’s Long-Term Foreign Currency Issuer Default Rating to “positive” from “stable” and upgraded the rating to BBB+. The revision reflects increasing international economic confidence that lingering political risks are unlikely to derail “sound macroeconomic management”, according to…
Economists predict Thai exports could fall 3.1% this year Economists are forecasting that Thailand’s exports will drop by up to 3.1% for 2019 after June figures fell when compared to the same period last year. After the Commerce Ministry reported a 2.1% fall in June, the SCB Economic Intelligence Centre projected the country’s exports will…
SCB cuts GDP growth forecast to 3.1% The EIC has revised downwards its Thai economic expectations in 2019 to 3.1 percent from 3.3 percent, largely as a result of the trade war between the United States and China Bangkok, (NNT) – Government investment remains the main factor in steering the economy as the trade war…
Thailand rice exports droop due to strong baht Rice exports have fallen 12% for the first half of this year, mostly related to the strong Thai currency. An export group says that sales targets for Thai rice will fall short of the 2019 target of 9.5 million tonnes. The Thai Rice Exporters admit they will…
TAT target 10% growth in 2020 with quality markets and responsible tourism TAT has set clear directions to move the Thai tourism industry out of mass tourism and towards responsible tourism with an emphasis on revenue-generating quality tourists. Bangkok, 9 July 2019 – Gearing up to mark its 60th anniversary in 2020, the Tourism Authority of…
Political uncertainty takes toll on Thai growth The country’s growth rate is projected to fall from 4.1 percent in 2018 to 3.5 percent in 2019, according to the World Bank’s Thailand Economic Monitor, released today. According to the World Bank’s Thailand Economic Monitor (July edition), risk to the economic outlook in Thailand are primarily domestic.…
Thailand’s e-commerce to reach 13 billion USD by 2025 Southeast Asia will account for 20 percent of worldwide e-commerce by 2022. Moreover, Asia-Pacific is expected to become the largest cross-border trade region for both imports and exports. Thailand’s e-commerce market value is expected to surge to 13 billion USD by 2025 from 3 billion USD…
China’s imposition of GMP on durian may affect exports Only about 20% of durian exporters in Thailand’s southern provinces, and about 50% of the exporters in the northeastern region, have GMP certification, according to durian trading sources. Thai durian exporters and orchard owners have expressed serious concern that China’s recent imposition of Good Manufacturing Practice…
Thailand and ASEAN economic integration Amidst global challenges politically and economically the ten members of Association of Southeast Asian Nations or ASEAN willl need even more economic strength and bargaining power globally. The 34th ASEAN summit was held in Bangkok and one of the main aspect of the statement is to emphasize economic integration among…
Thailand tops UN Sustainable Development Goals (SDGs) rank in ASEAN Other ASEAN countries have also been ranked for their SDGs achievements, namely Vietnam at the 54th, Singapore at the 66th, Malaysia at the 68th, the Philippines at the 97th, Indonesia at the 102nd, Myanmar at the 110th, the Lao PDR at the 111th, Cambodia at…