News

Thailand faces 20 years of low growth

The World Bank expects Thailand’s potential growth to be the lowest among Asean economies over the next 20 years because of the country’s ageing demographics and a slowdown in private investment.The potential growth of Thailand’s economy is expected to be around 3% for the next ...

Bangkok Post Reporter

Thailand's economy needs structural changes for long-term growth, says report

Thailand’s economy will continue to move forward with the global recovery momentum in the coming year, but it is still shaky when it comes to having a robust economy in the long term, according to an SCB Economic Intelligence Centre (EIC) report.EIC chief economist Somprawin ...

The Nation Reporter

ADB cuts Thailand’s 2023 economic growth forecast to 2.5%

The Asian Development Bank (ADB) has lowered its economic forecast for Thailand in 2023 from 3.5% growth to 2.5%, citing export contraction, reduced government spending, and lower investment from both the public and private sectors.The ADB also revised down its forecast for the Thai economy ...

The Nation Reporter

BoT seen cutting rates in H2, 2024

The Bank of Thailand is projected to start cutting interest rates in the second half of 2024, in line with similar moves by the US Federal Reserve, say analysts, as the domestic economy needs more support to drive growth next year.BMI, a unit of New ...

Bangkok Post Reporter

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 economy slows in March but improvement seen ahead - central bank

Thailand’s economy slowed down in March compared with the previous month, as exports declined but the service sector continued to improve from higher foreign tourist numbers, the central bank said on Friday.Economic activity is expected to have improved in April and exports should gradually pick ...

Economic growth slowed in tourism-reliant Thailand in Q4

Thailand’s economic growth slowed in the fourth quarter as reduced exports and factory activity, together with tightening monetary conditions, curbed private consumption, a Reuters poll of economists found.Growth in Southeast Asia’s second-largest economy was forecast at 3.5% year-on-year in the October-December period, down from 4.5% ...

Shippers keep faith in 5-8% growth view

A group of Thai exporters remains bullish on the country’s prospects this year, despite slower growth in April.Chaichan Chareonsuk, chairman of the Thai National Shippers’ Council (TNSC), said the council believes 5-8% growth for the country’s export sector is still achievable, with key drivers including ...

Bangkok Post Reporter

Growth outlook needs rejig

The Finance Ministry plans to revise its 2022 forecast for Thai economic growth next month, focusing on the impact of rising inflation and spiking energy prices, says a ministry source who requested anonymity.The ministry is worried the Russia-Ukraine war will affect its target for foreign ...

Wichit Chantanusornsiri

Inflation set to increase next year

Rising product prices based on higher demand and persistently high oil prices are expected to drive Thailand’s headline inflation to grow by 0.7% to 2.4% (an average of 1.5%) next year, from 0.8% to 1.2% this year, according to the Commerce Ministry.The projection is based ...

Phusadee Arunmas

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