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 […]
The Thai government is looking to develop its startup industry by following in the footsteps of Singapore’s initiatives which have made the city-state a leading incubator of entrepreneurs. Singapore is the top Asian economy in this year’s global startup ecosystem index published by StartupBlink : Thailand ranks 52nd on the global startup ecosystem index, while Singapore is ranked sixth. […]
According to the World Bank’s Global Economic Prospects report, global growth is projected to slow from 3.1% in 2022 to 2.1% in 2023, with emerging market and developing economies (EMDEs) facing financial risks due to elevated global interest rates. The report indicates that one out of every four EMDEs has effectively lost access to international […]