Thai exports declined for the 10th consecutive month in July, falling at a larger rate than expected due to sluggish global demand and a decline in global commodity prices. However, the decline in Thai exports was less severe compared to other countries. The ministry will try to meet its export growth target of 1-2% for […]
The Thai economy grew slower than expected in the second quarter, with weaker exports offset by strength in tourism. The government has revised its GDP growth forecast for 2023 to 2.5% to 3.0% due to slower exports. The economy grew 1.8% in the April-June period, below economists’ expectations. The tourism sector and private consumption have […]
The Bank of Thailand (BOT) is considering revising down its growth forecasts for the country due to weak export performance. The initial projection of 3.6% growth for this year may be adjusted to the mid-3% range. The slowdown in economic momentum is mainly attributed to underperforming exports, which have been affected by global challenges. However, […]
The Thai Finance Ministry has revised its economic growth outlook for 2023 to 3.5% from 3.6% due to weaker global demand for exports. The ministry also predicts a 0.8% contraction in exports this year. However, the economy has been supported by increased domestic consumption and a recovery in the tourism sector. The ministry maintains a […]
Thailand is pursuing an ambitious free trade agreement (FTA) strategy to expand its trade and investment opportunities with various partners around the world. The country has already signed 13 FTAs with 18 economies, including China, Japan, India, Australia, and the European Free Trade Association (EFTA). Thailand is currently negotiating several more FTAs with potential partners […]
TikTok’s “shoppertainment” trend, where content and commerce converge on the platform, is expected to be worth $1 trillion in the Asia-Pacific region by 2025. TikTok, the popular short-video app, has been growing rapidly in the Asia-Pacific region, especially in markets like India, Indonesia, and Japan. According to a recent report by App Annie, TikTok was […]
Household debt in Thailand has reached 16 trillion baht in the first quarter of this year, accounting for 90.6% of the country’s GDP. This increase is due to both higher levels of debt and a redefinition of national household debt, which now includes student loans, agricultural cooperative loans, housing loans, and microfinance. The rise in household debt is primarily due to real estate purchases and personal loans. Rising interest […]
A critical part of China’s Belt and Road Initiative (BRI), the China-Europe Railway Express has expanded by more than 20 percent a year in recent years.However, over the past year, the railway’s growth has slowed dramatically. Its business has declined with most European countries—with the exception of Russia, which now dominates Europe’s trade with China.After […]