Economy News
Thailand economy news, business updates, financial markets, and government policies—stay informed on economic developments shaping the nation. Get the latest from The Thaiger, your trusted source for Thailand economic news.
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Thailand’s manufacturing production highest in 23 months
After 2 years of falling, largely affected by the Covid-19 pandemic, Thailand’s manufacturing production index has grown for the first time in 23 months. The index, which measures manufacturing activity, hit 107.73 last month, which is the highest it has been since April of 2019. With a growth of 4.12% in the last year, the index had its strongest performance…
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Foreign investors eye business in Thailand as hotels face closure during new outbreak
The new wave of Covid-19 infections this month has led to a drop in occupancy rates at Thailand hotels, some reporting drops of 5% to 30%, battering hoteliers that have already been struggling from a year of little to no foreign tourists. Some hotel operators have been forced to sell their businesses, according to the president of the Arjarnnar Asset…
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Shopping centres, supermarkets and convenience stores to close an hour earlier in Red Zones
With the rising reported cases in Thailand, The Thai Retailers Association and Thai Shopping Centre Association has adjusted closing times for shopping centres, supermarkets and your local convenience stores. The situation applies for red zone provinces only at this stage. The new closing times will operate until at least May 2. • Shopping centres will close at 8pm • Supermarkets…
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New Covid-19 wave could cause the Thai economy to lose 100 billion baht per month
With more than 18,000 Covid-19 cases in 22 days, the new wave of infections may have a dramatic impact on the Thai economy… possibly a 100 billion baht loss per month, according to the University of the Thai Chamber of Commerce. They say the outbreak is likely to primarily impact the service sector and the number of workers is expected…
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Thai hotels consider temporary shutdown amid low tourist demand
The president of the Thai Hotels Association says many properties are considering shutting down for the low season as a result of the Covid-19 resurgence. Marisa Sukosol Nunbhakdi says smaller hotels that don’t necessarily have the resources of the large chain properties are struggling with cash flow and crippled by low tourist demand. Many are considering shutting up shop between…
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Officials not worried Thailand remains on US currency watch list
Thailand remains on the United States Treasury’s “Monitoring List” of countries whose currency trade practices need to be watched, though Thai officials say they are not worried. US Treasury Secretary Janet Yellen releases a foreign exchange report twice a year including labelling alleged currency manipulators and flagging suspect trading partner countries to be monitored. The Bank of Thailand said remaining…
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Covid-19 brings surge in gold and cryptocurrency investment
In the uncertain times of the Covid-19 pandemic, investors are leaning towards safe investments like gold and also the emerging cryptocurrency market. Gold prices hit a 7 week high at over 55,000 baht on Thursday and around April 15 online gold transactions in Thailand doubled. One reason for the rise in gold price is uncertainty, with tensions growing between the…
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China grows 18.3%, the only major economy to grow in 2020
China’s economy set a record for growth in Q1, 2021, marking an 18.3% jump in year-on-year figures, the biggest quarterly growth in almost 30 years. China only started publishing growth statistics in 1992, and this drastic increase is the fastest growth recorded since then. The figures, however impressive, are mainly due to what is called a “low base effect” where…
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2 emergency decrees provide businesses financial help
Thailand enacted 2 new emergency decrees today aimed at providing assistance to businesses and reducing default interest rates to help people affected by Covid-19. A deputy government spokeswoman confirmed the needed action was critical to protect and aid entrepreneurs and small and medium-sized enterprises during the time of pandemic-driven economic crisis. The goal was to combat unfair interest rates on…
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Unemployed elephants walk 500 kilometres from Pattaya to Surin
A group of 5 elephants and their owners began the long walk today from Pattaya to Surin after giving up on the return of tourism anytime soon. The 500 kilometre journey has to be done on foot as they couldn’t afford to hire trucks large enough to carry each elephant. After waiting a year for the Chinese tourists that make…
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Southern Thai people turn from tourism to gold panning
Thars gold in dem hills! With tourism in Thailand struggling due to Covid-19, and an economy needing some help, some people in the southern Thai region of the country have found income in an unusual source: panning for gold. The Sukhirin region close to the Malaysian border is known for gold deposits in the Sai Buri River and surrounding mountains.…
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Thai baht performs worst of all Southeast Asian currencies
Among common currencies in Southeast Asia, the Thai baht was the worst performing in the first quarter of 2021, mostly due to Covid-19’s effect on tourism in Thailand. This week the baht hit its lowest point in half a year, falling 4% against the US dollar to 31.24. The decline was the sharpest in all of the Southeast Asian nations.…
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