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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Sponsored 5 ways retirees in Thailand lose money (and how to stop it)
Retiring in Thailand can be affordable and enjoyable, but many retirees lose money due to common mistakes. High living costs, scams, and unexpected expenses can quickly drain savings. There are five ways that retirees in Thailand can lose money and...
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Thailand’s credit card industry faces toughest challenge in 20 years
The credit card industry in Thailand is bracing for its most formidable challenge in two decades, a situation attributed to an anticipated weak economy next year, as highlighted by the Thai Bankers’ Association’s credit card club. Atis Ruchirawat, chair of the club, emphasised that the unsecured loan sector, encompassing credit cards and personal loans, has already felt the tremors of…
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Expensive seafood in Thailand sparks online debate
A customer’s disappointment over an expensive seafood purchase has sparked a heated online debate. After ordering fresh salmon for 200 baht and steamed blue crabs for 120 baht, a woman found her portions to be smaller than expected. The woman’s complaint was met with the vendor’s unapologetic response that this was their standard practice, igniting further criticism from social media…
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Thailand rolls out red carpet with bigger rebates for filmmakers
The Thail Cabinet approved an increase in the rebate offered to foreign film productions, raising it to a range of 15 to 30% to attract more international filmmakers to shoot in the country. This decision, announced by Jirayu Huangsap, spokesperson for the Prime Minister’s Office, is part of a revised strategy to bolster Thailand’s appeal as a filming destination. The…
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2025 kicks off with a salesplosion from the Commerce Ministry
Hold onto your hats, shoppers: the Commerce Ministry is kicking off 2025 with a bang, unveiling its sensational New Year Mega Sale 2025. With jaw-dropping discounts of up to 80% on over 40,000 products and services, this is a shopping spree you won’t want to miss. Over 300 vendors are rolling out the red carpet, from major manufacturers and department…
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Thai pig farms face closure risk amid pork oversupply crisis
The Swine Raisers Association of Thailand (SRAT) expressed growing concern that small pig farms could face closure due to an increasing oversupply of pigs, as larger farms aggressively expand their production capabilities. This oversupply issue arises from major pig farms in Thailand continuously boosting their production without aligning with the actual market demand for pork, according to SRAT President Sitthiphan…
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Yasothon man wins 12 million baht in lottery draw
A man from the northeastern province of Yasothon has become a multimillionaire after winning the top prize of 12 million baht in the latest lottery draw. Hailing from Don Sai Mun district, his life changed dramatically with the announcement yesterday, December 16, by the Thai Government Lottery. The winning numbers for the first prize were 097863, with additional prizes including…
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December 16 lottery results announced: 6 million baht first prize
Yesterday’s lottery draw results have been announced, with many eagerly checking their tickets. The winning number for the first prize, worth 6 million baht, is 097863. Additional prize categories include the three-digit front and back numbers, the two-digit numbers, and various other prizes. The first prize was awarded to the ticket with the number 097863, granting the winner a substantial…
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Grain gains: Thai farmers to receive 1,000 baht per rai support
The Bank of Agriculture and Agricultural Cooperatives (BAAC) has initiated a comprehensive financial support programme, transferring 1,000 baht per rai to Thai rice farmers across the country. Deputy Finance Minister Jullapan Amornvivat presided over the first day of payments, aimed at providing relief and encouraging agricultural productivity. The support programme targets 4.61 million farming households, with total funding reaching 37.4…
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Grain of truth: Thailand trails Asia in rice yield race
Thailand’s rice yields are significantly lower than other major Asian rice producers, according to Anon Nonsee, Deputy Director General of the Department of Rice. The average rice yield in Thailand is about 400 to 500 kilogrammes per rai (0.16 hectares), far below Vietnam’s 1,000 kilogrammes per rai and China’s 1,000 to 1,200 kilogrammes per rai. While some Thai rice varieties…
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Thailand advised to limit economic stimulus as recovery progresses
The Government of Thailand is being urged to reconsider its approach to economic stimulus as the country’s economy shows signs of recovery. The Thailand Development Research Institute (TDRI) advised against implementing large-scale economic stimulus measures, arguing that the economy is on a path to sustainable growth. Nonarit Bisonyabut, a research fellow at TDRI, likened the private sector’s reliance on government…
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Thailand proposes VAT hike, cuts income tax to boost economy
Finance Minister Pichai Chunhavajira has proposed a shift in Thailand’s tax strategy to bolster state revenue and enhance the nation’s economic standing. The plan includes raising the value-added tax (VAT) while reducing corporate and personal income tax rates. This approach aims to drive national development, increase competitiveness, and address domestic disparities. The Organisation for Economic Co-operation and Development recently set…
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Airbus partnership aims to turn Thailand into aviation powerhouse
Thailand is gearing up to soar as the region’s top aviation hub, thanks to a high-flying partnership with European aerospace giant Airbus. In a bid to revolutionise the nation’s aviation infrastructure and safety standards, Transport Minister Suriya Jungrungreangkit met Airbus Asia-Pacific president Anand Stanley in Bangkok yesterday, December 3, to map out ambitious plans. The partnership focuses on transforming Thailand…
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Phuket cabaret boosts economy with 200 million baht annually
Phuket’s vibrant cabaret scene is being hailed as a significant contributor to the province’s economy, with the potential to generate over 200 million baht annually. Phuket Governor Sophon Suwanrat highlighted the substantial impact of the Simon Cabaret Phuket Show during its reopening in the Kathu district yesterday. This year has marked a resurgence for tourism in Phuket, and the numbers…
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Thai Cabinet approves civil service salary increase proposal
The Thai Cabinet has acknowledged a proposal to adjust the starting salaries for new civil service recruits, with a bachelor’s degree holder earning no less than 18,000 baht and a vocational certificate holder receiving a minimum of 11,000 baht. This adjustment is expected to utilise a budget of 2.67 billion baht. A meeting took place at Chiang Mai Rajabhat University,…
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Rice and shine: Parboiled prices soar as global markets heat up
Global rice markets are heating up as prices for parboiled rice surged this week, driven by robust demand in major export hubs India and Thailand. After three weeks of stability, Indian and Thai exporters are now cashing in on renewed interest, while Vietnamese traders grapple with stagnant sales. India, the world’s largest rice exporter, saw its 5% broken parboiled rice…
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Thailand’s economy shifts into gear but auto industry hits a bump
Thailand’s economy is on a cautious upswing, buoyed by a surge in exports, a bustling tourism sector, and healthier private consumption. Yet, the road ahead isn’t entirely smooth, with the automotive industry hitting a bump. The Fiscal Policy Office (FPO) has laid bare the mixed fortunes in its recent October economic report, painting a picture of resilience tinged with challenges.…
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Thai graduates face high unemployment despite stable job market
Thailand’s unemployment rates reveal a concerning trend among university graduates, with 65% unable to secure employment. Long-term unemployment has risen by 16%, and a significant 71.3% of the unemployed have never worked before. Danucha Pichayanan, Secretary-General of the National Economic and Social Development Council (NESDC), announced the findings from the third quarter of 2024, highlighting a relatively stable employment scene.…
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Thailand’s automotive production lowest since pandemic
Thailand’s automotive sector faces a significant downturn in 2024, with the Federation of Thai Industries (FTI) projecting annual vehicle production to hit 1.5 million units, marking the lowest output since 2021’s pandemic-affected figures. Speaking at a briefing today, November 25, FTI automotive industry group spokesperson Surapong Paisitpatnapong announced this second downward revision of the year. The federation had previously lowered…
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Thai PM yet to unveil new stimulus to boost economic growth
After nearly three months in office, Prime Minister Paetongtarn Shinawatra is poised to influence Thailand’s economic growth through a series of new stimulus proposals. These measures aim to address various economic challenges and are anticipated to be unveiled shortly. The National Economic and Social Development Council (NESDC) recently projected Thailand’s GDP growth to be between 2.3% and 3.3% for 2025,…
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Thailand to expand child support to all under six years old
Thailand’s Ministry of Social Development and Human Security is poised to propose an expansion of the early childhood development scheme, with plans to present the child support proposal to the Cabinet shortly. The scheme aims to broaden its reach by extending financial support to all children under six years of age, enhancing the current system that aids children from impoverished…
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Thailand’s 10,000 baht handout: Cashing in to support elderly
The Government of Thailand is moving forward with its plans to distribute financial aid worth 10,000 baht, both in cash and digital form, to specific groups in need. This initiative, led by the Ministry of Finance in collaboration with the Comptroller General’s Department, aims to support elderly citizens aged 60 and above as well as those who have registered through…
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GTA reports gold prices glisten amidst market chaos
In a refreshing change from recent volatility, the Gold Traders Association (GTA) sparkled with an announcement that gold prices are holding firm today, maintaining the surge seen earlier. For the shrewd investor or even the casual enthusiast watching their assets, this is golden news. Gold ornaments are on offer for 43,600 baht per baht weight, mirroring yesterday’s closing figures, much…
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Sky’s the limit: RTAF aims to reach new heights with space plans
The Royal Thai Air Force (RTAF) is looking to take Thailand’s defences to new heights. Plans are underway for a bold rebranding as the Royal Thai Air Force and Space alongside the creation of a new unit aimed at safeguarding Thailand’s air and space interests. This strategic move, announced by RTAF spokesperson Air Marshal Prapas Sornjaidee yesterday, November 19, highlights Thailand’s…
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Finance Ministry cashes in with economic stimulus package
The Finance Ministry is preparing to unveil an extensive economic stimulus package for review by a committee led by Prime Minister Paetongtarn Shinawatra. The announcement was made by Deputy Finance Minister Julapun Amornvivat, who indicated that the proposal includes a 10,000-baht (US$290) cash handout distributed via a digital wallet. This initiative is aimed at stimulating economic activity to bolster growth…
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Thailand set to ‘stir up’ the economy with juicy stimulus carrot
Thailand is gearing up to dangle a glittering economic carrot with a new stimulus package set to roll out by year’s end, stretching well into 2025. This ambitious plan aims to supercharge the country’s economy, injecting life into key sectors and rallying national growth. In the corridors of power, Deputy Finance Minister Julapun Amornvivat revealed that the top-tier economic stimulus…
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Thailand economy gives a surprise ‘Thai’ five with Q3 growth leap
Thailand’s economy just delivered a surprise package of positive news! Official figures released today, November 18, reveal that the nation’s economic growth has leapt to a striking 3.0% increase in the third quarter compared to last year, leaving analyst predictions of 2.6% in the dust. In a stellar performance, Southeast Asia’s second-largest economy also recorded a seasonally adjusted growth of…
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Thailand’s debt drive: Putting the brakes on cars and homes
The financial woes of Thailand have taken centre stage as crippling debt levels put the brakes on car sales and curb the housing market, particularly among low-income households. With banks wary of non-performing loans (NPLs), many hopeful borrowers are seeing their applications for mortgages and car loans hit the skids. In response, the government is steering new initiatives to tackle…
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Thailand launches QR system to track tobacco products
Thailand’s Finance Ministry has unveiled a new technology aimed at transforming the monitoring of tobacco products. The “QR Cigarette” system, announced by Deputy Finance Minister Paophum Rojanasakul, is a Track & Trace innovation designed to follow tobacco products throughout their lifecycle, from production to purchase. This move is part of a broader effort to enhance tax collection efficiency, boost transparency,…
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Thailand consumer confidence rises for first time in eight months
Consumer confidence in Thailand saw its first improvement in eight months this October, driven by reduced concerns over recent floods and improved economic conditions influenced by government policies. The University of the Thai Chamber of Commerce (UTCC) reported a rise in the consumer confidence index to 56, up from 55.3 in September. The consumer confidence index, which measures consumers’ outlook…
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Trump’s win sparks PM Paetongtarn’s bold investor push
Thai Prime Minister Paetongtarn Shinawatra is seizing the momentum after Donald Trump’s election victory by calling for an ambitious strategy to attract foreign investors to Thailand. Speaking in Los Angeles yesterday, November 12, to Thai ambassadors, consul-generals, and key representatives of Team Thailand from across the Americas, the Thai premier urged diplomats to become a front-line force, promoting Thailand as…
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