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.
-
Sponsored Best facial treatments in Bangkok for radiant skin
If urban life has left your skin feeling as stressed as the Friday evening rush hour, there’s no reason to let it dampen your spirits. The answer to your skin's prayers might just involve less commuting and more pampering. Thankfully,...
-
Foreign investors sell 100 billion baht in Thai stocks and shares amid global rate rise
In the first five months of this year, foreign investors offloaded almost 100 billion baht worth of Thai shares, with 33.4 billion baht sold in May alone, due to increasing global interest rates and uncertainties surrounding the formation of a new government. Despite this, the Stock Exchange of Thailand (SET) expressed optimism yesterday, believing that the recent easing of the…
-
Highway 12 expansion completed, boosting Thailand-Myanmar-Laos economic ties
The completion of Highway 12’s expansion, which connects Thailand with Myanmar, and Laos, is expected to significantly enhance cross-border economic activities among the three nations. Government spokesperson Anucha Burapachaisri announced that Prime Minister Prayut Chan-o-cha is optimistic about the economic benefits the highway will bring, particularly to the residents of Kalasin and Mukdahan in northeast Thailand. Highway 12 forms a…
-
Thai exports decline for seventh month as global demand slows
The Thai Ministry of Commerce has reported a decline in the nation’s export value for the seventh consecutive month. In April, the value dropped by 7.6% compared to the previous year, a significantly larger decrease than the 2% fall anticipated by economists. April’s exports were valued at US$21.72 billion, a notable decrease from March’s 12-month high of US$27.65 billion. Despite…
-
Thai parties pledge to tackle economic inequality, business groups sceptical
Business organisations have expressed support for the Move Forward Party’s campaign pledges to address economic inequality in Thailand, but they question the party’s ability to overcome long-standing issues. On May 22, eight political parties signed a memorandum of understanding, outlining 23 focal points for governing Thailand. These included a joint commitment to reducing inequality and promoting equitable economic growth. The…
-
Thailand’s forest rangers push for higher salary
Thailand’s forest rangers are pushing for a higher salary. The Department of National Parks, Wildlife and Plant Conservation in Thailand is calling for a pay raise for approximately 14,000 forest rangers, Thai PBS reported. The department is seeking an increase from the current monthly salary of 9,000 baht to 11,000 baht from the Comptroller Department of the Finance Ministry, effective…
-
Thai baht soars as voters back pro-democracy parties
The Thai baht hit a five-week high this morning after pro-democracy parties came out as the biggest winners in yesterday’s General Election after nearly a decade of military-backed rule in Thailand. The baht rallied 0.9% this morning to 33.70 against the greenback for the first time since April 5 after opposition parties Move Forward Pary (MFP) and Phue Thai won the…
-
Pheu Thai candidate Dr Silp champions cultural diversity for economic revival
Dr Silp – Silpwichai Noisyamitr, a candidate for the constituency 24 of Khlong San, Thonburi, and Ratchaburana, Bang Pakok, under the Pheu Thai Party, aims to revive the economy with the diverse local culture. Growing up, he was a keen reader of Bangkok’s column in the newspaper, which made him an “active citizen” with a great knowledge of urban development.…
-
Thailand is the world’s biggest exporter of durian
Thailand, known for its rich culture and stunning beaches, is also the world’s biggest exporter of the notorious fruit, durian. According to the Trade Policy and Strategy Office, Ministry of Commerce, Thailand has retained its top spot for durian exports, accounting for a whopping 93.3% of the global market share, Pattaya Mail reported yesterday. In 2022, Thailand exported fresh durian…
-
US and Thailand advance energy cooperation in recent discussions
The United States and Thailand have recently agreed to advance energy cooperation during talks in Washington, DC. The Office of the Spokesperson for the US Department of State issued a joint press statement revealing that the discussions took place during the third US-Thailand Energy Policy Dialogue, held from April 18 to April 20. Both nations aimed to deepen their ties…
-
Thailand accelerates shift to renewables amid global energy crisis fallout
The global energy crisis has prompted Thailand to accelerate its transition to renewable energy after years of hesitation, joining other countries in adopting wind and solar power to reduce dependency on imported fuels. Thailand’s reconsideration of its renewable energy strategy came after a surge in natural gas prices last year caused by Russia’s invasion of Ukraine, according to Wattanapong Kurovat,…
-
PPRP offers upskilling for welfare card holders to tackle poverty
The Palang Pracharath Party (PPRP) has proposed new initiatives for the holders of its Pracharath welfare cards aimed at empowering them to break free from the poverty trap. Charnkrit Detwithak, a spokesperson for the party’s election strategy committee, stated that the party leader and prime ministerial candidate, General Prawit Wongsuwon, is focused on core issues and the need to boost…
-
Top 5 nationalities investing in Thailand in Q1
Foreigners invested 33 billion baht into Thailand in the first quarter of the year, a government spokesperson revealed today. Investors from Japan invested the most, followed by investors from Singapore and the USA, respectively. A spokesperson for the Prime Minister’s Office and Deputy Secretary-General to the Prime Minister Anucha Burapachaisri revealed that the government approved investment from 174 foreign investors…
-
Thai government to resubmit subsidy proposal to Election Commission
Thailand‘s issues around electricity costs are continuing. Thailand’s Prime Minister Prayut Chan-o-cha remains determined that the government will resubmit a proposed 11 million baht (US$330 million) subsidy for household electricity bills to the Election Commission (EC) for approval. The proposal, which was approved by the Cabinet last week, was previously rejected by the polling regulator, according to an unnamed source.…
-
Pheu Thai party rally focuses on agriculture, digital wallet policy, and appealing for votes in Nakhon Si Thammarat
The Pheu Thai Party held an enthusiastic rally in Nakhon Si Thammarat, featuring prominent members such as Paetongtarn Shinawatra, candidate for prime minister, and her husband Pik Sukhsawat, as well as party strategist Chaturon Chaisang and director Natthawut Saikua. The candidates for MP seats in their respective districts also echoed the party’s policies and called for local support. During the…
-
Bank of Thailand predicts 28 million foreign tourists this year
The Bank of Thailand (BoT) predicts that the Land of Smiles will see 28 million tourists this year. The BoT’s governor, Sethaput Suthiwartnarueput, said the BoT expects a 3.6% expansion in the gross domestic product (GDP) for this year. The BoT predicts a GDP growth of 2.9% in the first half of this year from the same period last year,…
-
Mitr Phol Group ranks second in global food industry sustainability assessment
Mitr Phol Group, the world’s second-largest sugar producer and a leader in sustainable development within the agro-industrial sector in Thailand, has recently been ranked second globally for sustainable development in the food production industry in the latest Corporate Sustainability Assessment (CSA) conducted by S&P Global. This marks the fifth consecutive year that Mitr Phol Group has been included in the…
-
Thai politician foresees Phuket and Phang Nga as new global business centres
Thailand’s Phuket and Phang Nga provinces, according to an imaginative proposal by Thai politician, Settha Taweesin, could become the new global business destinations and potentially draw in talented individuals from around the world to work in these areas while simultaneously enjoying the natural beauty and tourist attractions on offer. Settha Taweesin, a candidate for prime minister representing the Pheu Thai…
-
Democrat Party plan to transform Hat Yai into major economic hub
The Democrat Party in Thailand recently revealed its intentions to rejuvenate its previous plan to turn the commercial district of Hat Yai, located in Songkhla province, into a significant economic centre. This attempt aims to attract more investors to the area. Democrat Party officials mentioned that they are considering the enactment of a special law that would promote the growth…
-
Thailand offers 11 billion baht subsidy for low-income electricity bills
The Thai government announced plans to allocate over 11 billion baht to support low-income earners with their electricity bills over the next four months, with the subsidy set to begin in May. However, the proposal needs to be reviewed and approved by the Election Commission (EC) before it becomes official. Following yesterday’s Cabinet meeting, Prime Minister General Prayut Chan-o-cha addressed the…
-
Ft set to decrease next month, says Thailand’s ERC
The Energy Regulatory Commission (ERC) is set to reduce the fuel tariff (Ft) next month, following a recommendation by the subcommittee responsible for its calculation. The decision comes in response to concerns regarding the rising cost of living, with water rates also marked for an increase after 23 years of stagnation. As reported by Khomgrich Tantravanich, the ERC’s secretary-general, the…
-
Chinese ambassador expresses confidence in Belt and Road Initiative benefiting Thailand and China
Chinese Ambassador Han Zhiqiang expressed his confidence yesterday that China’s Belt and Road Initiative (BRI) would foster mutual growth and provide numerous benefits to both Thailand and China. Speaking at a seminar titled “Contemporary China with the World: An Exchange of a New Generation between Thailand and China,” the ambassador highlighted the BRI’s role in guiding and advancing bilateral relations…
-
Thailand is the biggest exporter of condoms in the world
Condoms are among five products that Thailand exports more than any other country in the world, according to data from the global trade insights website kidka.com, reports Prachachat. Today, the Ministry of Commerce’s Director of the Trade Policy and Strategy Office, Poonping Naiyanapakorn, revealed that Thailand was the champion exporter of five outstanding Thai products in 2022… Fresh Durian Thailand…
-
Norway surpasses Russia in energy exports
Norway is now surpassing Russia in energy exports. In a remarkable turn of events, a humble office building overlooking a fjord in Stavanger, Norway, now holds the key to European energy security. Here, the company Petoro oversees several of the continent’s largest oil and natural gas fields on Norway’s petroleum-rich continental shelf. This unassuming location has become central to Europe’s…
-
Thai activists say new electricity rates won’t solve root causes of high prices
A decision by an Energy Regulatory Commission (ERC) subcommittee to reduce electricity rates from May to August has been met with reservations from Thai energy activists and politicians, who argue that the move does not address the root cause of expensive power bills. Yesterday, the subcommittee approved the fuel tariff (Ft) rate adjustment, which considers changes in fuel costs and…
-
ERC’s tariff cut to benefit households
The Energy Regulatory Commission (ERC) is anticipated to reveal a decrease in fuel tariffs (Ft) from May to August today, resulting in a drop in power tariff rates for households to 4.70 baht per kilowatt-hour unit from the current 4.77 baht per unit. This decision comes in response to public outcry over surges in electricity bills during the summer months,…
-
Migrant workers fill gap in Thailand’s tourism and service sectors due to labour shortage
Migrant workers are increasingly filling roles in Thailand‘s tourism and service sectors, due to a chronic manpower shortage, according to Tanit Sorat, deputy chairman of the Employers’ Confederation of Thailand (ECOT). The labour shortage is the result of new Thai graduates choosing freelance jobs and the country’s ageing population. Sorat explained that with many graduates preferring a slower lifestyle over…
-
Thai govt postpones tourism tax due to airlines’ complaints
The Thai government has announced the postponement of the planned 300-baht (US$9) tourism tax from June to September due to complaints from airlines. The fee was proposed to help the Thai tourism sector recover from the Covid-19 pandemic, with a 150 baht sum for overland visitors and a 300-baht fee for airline passengers. However, airlines raised concerns about the implementation…
-
PM Prayut vows to unearth new sources of alternative energy, lower summer bills
Prime Minister Prayut Chan-o-cha has announced that the government is intensifying its efforts to discover new sources of alternative energy in response to complaints about rising electricity bills during the summer months. His statement comes in reaction to social media outrage and calls for the government to take further steps to reduce people’s energy expenses. He said… “It is crucial…
-
Early morning raid captures illegal foreign workers at a Pattaya market
An early morning raid at Amon Nakhon fresh market in Pattaya by Chon Buri Immigration officials and Bang Lamung Police Station led to the capture of seven illegal foreign workers. Police reported the surprise raid was conducted at 6am on Wednesday and seven illegal migrants were arrested. Officers searched the market and nearby shops which saw workers from Myanmar, Cambodia, Vietnam,…
-
Big Oil Majors production cuts, what this means to airfares
The recent move by the Big Oil Majors to cut production by over one million barrels a day as a “precautionary” measure to stabilize the oil market will have a domino effect on airfares, according to industry experts. The Organization of the Petroleum Exporting Countries (OPEC) yesterday announced plans to lower oil production by 1.16 million barrels per day, starting…
Don't forget to check out some other things to do in Thailand - get help starting a business or finding a job in Thailand, buy Thailand property, rent a yacht or book a medical procedure worldwide.