Economy and commerce

Thailand’s Songkran to be celebrated for entire April in 2024 under govt’s soft power plan

A Thai government committee plans to hold Songkran Festival celebrations during the entire month of April 2024, instead of the traditional three days, in a bid to entrench Thailand’s standing among the top 10 global destinations for festivals.Songkran, the Thai traditional new year, falls on ...

Production index dips 4.3% in October

Thailand’s Manufacturing Production Index (MPI) decreased by 4.29% year-on-year in October to 89.4 points as people become more careful spending amid sluggish Thai and global economies.The Thai economy has not fully recovered and interest rates remain high, said Siripen Kiatfuengfoo, deputy director-general of the Office ...

Bangkok Post Reporter

BOT retains policy interest rate at 2.5% to facilitate economic recovery

The Bank of Thailand (BOT)’s Monetary Policy Committee (MPC) on Wednesday voted unanimously to retain the policy interest rate at 2.5% per annum.The overall Thai economy continues to see the recovery trend persist, although the export and production sectors are slowing down, according to Piti ...

The Nation Reporter

FTI seeks urgent action as domestic industries suffer from cheap imports

Many domestic industrial groups were struggling to survive as cheaper, substandard imported goods were flooding the market, the Federation of Thai Industries (FTI) said.These imported goods were often falsely labelled, fake and/or substandard, and clandestinely brought in and sold at prices 10-20% cheaper than the ...

The Nation Reporter

Thailand set to boost agricultural exports to China via railway system

Thailand is gearing up to commence agricultural exports to China via the Thai-Laos railway system from December, said Keniga Ounchit, the Prime Minister’s Office deputy spokesperson.This move follows collaborative efforts from various public and private sector agencies to finalise customs railway transportation documentation, opening the ...

The Nation Reporter

Report unveils prospects for digital economy

A focus on high-value users, the environmental, social and governance (ESG) theme, digital inclusion and data infrastructure regulations will bring a sustainable digital economy to Thailand, according to Google.The fields of digital financial services (DFS), health, education, food and generative artificial intelligence (Al) are among ...

Bangkok Post Reporter

International financial analysts expect Thailand’s policy rate to be cut next year

Two international analysts have said they expect the Bank of Thailand to cut its policy interest rate next year due to a drop in the country’s inflation rate.In a statement issued on Tuesday, Standard Chartered Bank said it expected the central bank to maintain its ...

The Nation Reporter

Thai economic growth slows in the third quarter

Thailand’s gross domestic product (GDP) expanded 1.5% in the third quarter from a year earlier, the National Economic and Social Development Council (NESDC) said on November 20.This figure is lower than the 2.4% growth that economists predicted in a Reuters poll previously released and the ...

Thailand’s exports expected to contract this year, says shippers' council

The Thai National Shippers’ Council has predicted that Thailand’s exports this year would contract 1.5% year on year.Council chief Chaicharn Charoensuk said although Thailand’s exports had started to see a brighter trend, its growth would remain negative because of the contraction earlier in the year.He ...

The Nation Reporter

Thai PM 'very worried' about weak Q3 growth, plans more stimulus

Thai Prime Minister Srettha Thavisin said on Monday (Nov 20) he was “very worried” about much slower-than-expected growth in the third quarter, with the economy burdened by declining exports and government spending.Gross domestic product (GDP) expanded 1.5 per cent in the July-September quarter from a ...

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