Thailand’s export to contract by 7% in 2020 Thailand’s exports could shrink as much as 7% in 2020 showing its worst performance in a decade, or 3.7% if the Covid-19 crisis is contained before September. The Bank of Thailand and the Center for International Trade Studies at the University of the Thai Chamber of Commerce…
Covid-19 to cut Asian growth to 2.2%, Thailand -4.8% (ADB) Restrained largely by slowing exports, Thailand posted paltry growth at 2.4% last year. GDP growth is likely to slow further to –4.8% this year but could pick up to 2.5% in 2021. Regional economic growth in developing Asia will decline sharply in 2020 due to…
Thailand’s food delivery services are booming Whilst most businesses have been turned upside down by the disruptions caused by the Thai government’s reaction to Covid-19, along with enforced closures, at least one business is booming at this crazy time. With restaurants closed to sit-down customers, the delivery services are providing a valuable service getting food…
BOI Announces Measures to Facilitate Investors Affected by COVID-19 Situation The Thailand Board of Investment (BOI) said in a statement that it remains as committed as ever to serve the needs of investors, and announced practical measures to ensure the continuity of service to support companies The Thailand Board of Investment (BOI) said in a…
Thai restaurants and food chains switching to home deliveries A difficult time for restaurants as the government rolls out lockdowns across the country. So many of the restaurants and food chains are changing from sit in facilities to home delivery. They’re saying that they need to switch their financial strategy to stay afloat as the…
Opportunities for 2020 export growth in Thailand Despite the whirlwind of shutdowns, lockdowns and craziness descending on Thailand at the moment, the departments are still churning out numbers and trying to forecast the way ahead. They say that, due to the Thai baht weakening and massive government interventions around the world for both monetary and…
BoT says Thailand’s economy to shrink by 5.3 per cent in 2020 The Covid-19 crisis could throw Thailand into a deep recession next year according to the central bank’s latest data release. Due to the coronavirus (COVID-19) outbreak, the Thai economy would contract significantly in 2020 and headline inflation would become negative, said the Bank…
Thailand’s Poverty on the Rise Amid Slowing Economic Growth Between 2015 and 2018, the poverty rate in Thailand increased from 7.2 percent to 9.8 percent, and the absolute number of people living in poverty rose from 4.85 million to more than 6.7 million. Thailand has successfully reduced poverty over the past three decades from over…
Consumer groups warn of risks in buying a new Chevrolet General Motors’ decision to pull production of its Chevrolet line out of Thailand has prompted consumer advocacy groups to remind prospective buyers of risks. The Foundation for Consumers and the Office of the Independent Committee for Consumer Protection said yesterday that buyers “should be wary of uncertainty…
Chevy’s having a “garage sale” and prices are halved General Motors’ recent announcement that it’s ending production and sales of Chevrolets in Thailand means prices for new Chevrolets have been cut by half. The starting price for the latest SUV, the Captiva, is now just under half a million baht. General Motors announced Sunday that it’s pulling…