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 is a popular destination for expats due to its affordable lifestyle and excellent healthcare system. However, settling in a new country often brings health concerns. To ensure you’re covered for the most common medical needs, understanding what expat health...
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GSB launches savings campaign with 100 million baht prize pool
In celebration of the Government Savings Bank (GSB)’s anniversary on April 1, the bank introduced the Save a Hundred, Win a Hundred Million campaign. Customers can participate by purchasing a one-year special savings bond with a minimum deposit of 100 baht. GSB chief Witai Rattanakorn announced the initiative, which offers a total prize pool of 100 million baht. The highlight…
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Trump’s 36% tax on Thailand: Impact on exports & survival tips
The America First policy under President Donald Trump has sent shockwaves through the global economy once again. This follows the announcement of a baseline tariff of 10% on imports from all countries, along with a reciprocal tariff aimed at countries with which the US has a large trade deficit. With this, Thailand has been hit with a 36% tax from Trump’s new…
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Thailand introduces retirement lottery to boost elderly savings
Parliament has given unanimous approval in principle for a bill to amend the National Savings Fund (NSF) Act 2011, setting the stage for a retirement lottery initiative. This scheme aims to bolster retirement savings by permitting the NSF to issue lottery tickets, a measure widely supported by MPs as a way to enhance financial security for the elderly. The proposal…
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Trump’s tariff tantrum: US slaps huge levies on world as trade war erupts
Donald Trump has thrown the world into economic turmoil, launching a full-scale trade war by slapping sweeping new tariffs on imports, including crippling levies on key allies. Thailand has been caught in the tariff crossfire too, with officials claiming the nation could suffer an US$8 billion hit if the US were to even up levies between the two countries. Semiconductor…
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Bringing home the bacon: Korat businesses struggle as pork prices soar
Rising pork prices have left business owners in Nakhon Ratchasima facing daily losses, with some considering closure. They urge the government to fulfill economic promises and address the needs of smaller businesses rather than focusing solely on the wealthy. At a gathering at Rabieng Kiang Nam restaurant in Hua Thale subdistrict, Mueang district, representatives from pork stalls and restaurants discussed…
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Fuel prices slashed to ease Songkran travel costs
Motorists across Thailand are in for a welcome surprise as fuel prices are set to drop just in time for the Songkran holiday rush. PTT Station announced a 0.50 baht per litre cut in retail prices for both petrol and diesel, effective from 5am today, March 28. The reduction is part of a wider initiative by the Oil Fuel Fund…
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Thai Cabinet approves tax breaks for big EV investments
The Cabinet has approved a draft decree to offer tax incentives for companies investing in large commercial electric vehicles (EVs). This measure allows companies to claim double the expense for locally produced EVs and 1.5 times for imported ones. Deputy Government spokesperson Sasikarn Watthanachan stated that the decree aims to encourage the use of large commercial EVs, such as electric…
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Digital money registration opens for those sans smartphones
The latest update on the economic stimulus programme reveals that those without smartphones can register for the 10,000 baht digital money initiative. Deputy Prime Minister and Finance Minister Pichai Chunhavachira stated that the Ministry of Finance is tasked with determining a suitable registration period for these citizens. Deputy Finance Minister Julapun Amornvivat highlighted that the registration process for those without…
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Counterfeit Thai coconut drinks deceive Chinese consumers
The Department of International Trade Promotion (DITP) in Thailand has reported concerns about the imitation of the Thai coconut drink brand “IF” by a Chinese brand “TF”, widely available on Chinese e-commerce platforms. The imitation products, reportedly identical in packaging and name to the IF brand, are confusing Chinese consumers. Despite their similarities in appearance, the TF brand differs from…
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Thailand pushes forward 1 trillion-baht Land Bridge project
Transport Minister Suriya Jungrungreangkit confirmed that Thailand is continuing with the Land Bridge megaproject, designed to connect the Gulf of Thailand with the Andaman Sea, attracting interest from China and Middle Eastern nations. Suriya, who also serves as a deputy prime minister, announced yesterday, March 24, that the government remains steadfast in advancing the 1 trillion-baht initiative. To attract investors,…
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United Nations urges Thailand to collaborate for sustainable future
A United Nations official called on the Government of Thailand, private sector, and communities to collaborate for the nation’s sustainable future. Kanni Wignaraja, Regional Director for Asia and the Pacific at the United Nations Development Programme, highlighted the need for inclusivity in these efforts. During her recent visit to Thailand for the Asia-Pacific Forum on Sustainable Development 2025, held from…
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Experts warn Thailand’s digital wallet plan could be a short-term fix
As Thailand plans its next round of digital wallet handouts, experts are raising concerns. The government’s initiative, aimed at distributing funds to teenagers, may not have the desired economic impact. In fact, some argue it could do more harm than good in the long run. The Thailand Development Research Institute (TDRI) urged the government to reconsider its approach, advising a…
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Tech it to the bank: Thailand’s data boom lures global giants
Thailand is quickly establishing itself as a key player in the global digital landscape, attracting major international data centre investments worth over 100 billion baht. The Board of Investment (BoI) reported that existing giants from the US, China, Japan, and South Korea are eager to expand their operations in the country, which is anticipated to exceed last year’s investment levels.…
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Digital boom: Thailand’s tech economy set for electrifying growth
Thailand’s digital economy is poised to skyrocket this year, with GDP expected to rise by a staggering 7.3% to hit 4.85 trillion baht, according to the Digital Economy and Society (DES) Ministry. This digital surge far exceeds the national GDP growth rate, sitting at 2.8%, totalling 19.2 trillion baht. Digital investment is also on a meteoric rise, predicted to grow…
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Credit crunch: Thai economy faces stormy skies
The Bank of Thailand (BoT) is sounding the alarm over slipping asset quality among wealthier borrowers, echoing a worrying trend seen in middle- and low-income groups as the Thai economy slows to a crawl. Minutes from the recent Monetary Policy Committee (MPC) meeting reveal mounting concerns about loan quality deteriorating across the board. This could lead banks to become even…
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Thai food takes Tokyo: Commerce Ministry serves up 2 billion baht export success
The Ministry of Commerce successfully facilitated Thai food exports exceeding 2 billion baht during the FOODEX Japan 2025 event in Tokyo. Sunanta Kangvalkulkij, Director General of the Department of International Trade Promotion, stated that the department collaborated with the Thai Chamber of Commerce and the Office of Commercial Affairs in Tokyo to present 59 Thai companies at the event. Held…
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Illegal Thai workers send billions home despite crackdowns
Thailand’s workforce abroad is pumping an astonishing 400 billion baht into the economy each year—much of it from illegal workers, according to Labour Minister Pipat Ratchakitprakarn. Despite government crackdowns, the number of undocumented Thai workers overseas remains high, with 382,699 working illegally last year alone. While Thailand sent 92,392 legal workers abroad in 2024, a drop of 11% from 2023…
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Thailand urges Singapore to boost rice and egg imports
Thai Commerce Minister Pichai Naripthaphan has urged Singapore to increase its imports of Thai rice and free-range eggs following the seventh Singapore-Thailand Enhanced Economic Relationship (STEER) meeting. Held on March 14 in Singapore, the meeting was co-chaired by Doctor Tan See Leng, Singapore’s Minister for Manpower and Second Minister for Trade and Industry. The discussions aimed at boosting trade and…
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PM Paetongtarn prepares for Bhutan visit to boost trade
Prime Minister Paetongtarn Shinawatra engaged in discussions with Bhutan’s Ambassador to Thailand yesterday, March 14, focusing on preparations for the forthcoming state visit of the King and Queen to Bhutan. This marks Their Majesties’ initial state visit following an invitation from His Majesty Jigme Khesar Namgyel Wangchuck, King of Bhutan. Paetongtarn held talks with Kinzang Dorji, the Bhutanese Ambassador to…
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Power move: Thai Cabinet extends electricity subsidy to ease shock
The Thai Cabinet has approved an extension of the electricity subsidy programme to help alleviate financial burdens amid rising energy costs. The measure, originally expired in December 2024, will now continue until April 2025, aiming to support households and promote economic stability. Deputy Government spokesperson Karom Phonphlang announced on March 11 that the subsidy will provide a 16.05 satang per unit…
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Foreign affairs minister defends Thailand’s move to join BRICS
Thailand’s Foreign Affairs Minister Maris Sangiampongsa defended the nation’s decision to join BRICS, stating it aligns with national interests and will benefit the economy and international cooperation. Addressing the Senate yesterday, March 10, Maris discussed the pros and cons of this association, emphasising its role in maintaining Thailand’s global presence alongside other developing nations to tackle geopolitical issues. Maris highlighted…
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China crisis or Golden Week wonder? Tourism hopes take flight in May
In the midst of a 12% year-on-year plunge in Chinese tourist numbers during the first two months of the year, the Tourism Authority of Thailand (TAT) is holding its breath for a revival come May, perfectly timed with China’s Labour Day holiday. TAT Deputy Governor Pattaraanong Na Chiangmai, handling international marketing across Asia and the South Pacific, highlighted that safety…
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Digital wallet phase three targets Thais aged 16 to 20
Deputy Prime Minister and Minister of Finance Pichai Chunhavajira today announced that the third phase of the digital wallet programme will be limited to people aged 16 to 20. Efforts are being made to distribute the funds by the second quarter, with a potential fourth phase under consideration. Today, at 8.50am, March 10, at Government House, Pichai discussed the first…
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Thai farmers urged to go bananas for ripe returns
The Government of Thailand is urging beleaguered Thai farmers to pivot to bananas from rice as a strategy to bolster their earnings amidst plummeting rice prices. Commerce Minister Pichai Naripthaphan dropped the fruity bombshell while addressing People’s Party MP Narongdech Ularnkul’s concerns about rice price stabilisation. “A rice oversupply is crushing prices, and bananas could be the alternative farmers need.…
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Thailand offers 50% travel subsidy: 1 million vouchers available
Thailand’s Tourism Minister, Sorawong Thienthong, has announced a bold plan to boost domestic tourism with a 3.5 billion baht budget request to fund the new We Travel Together programme. The scheme will offer Thai tourists 50% subsidies on hotel rooms and meals from May to September, with one million vouchers up for grabs. The proposed programme aims to revitalise the…
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Thai Airways reports huge loss but promises strong comeback
Thai Airways International has assured stakeholders that its massive loss for fiscal year 2024 is due to a one-off debt-to-equity conversion and will not hinder its operational performance or planned exit from its rehabilitation programme. The airline reported a staggering loss of 26.901 billion baht, primarily caused by a one-time accounting loss of 45.271 billion baht from the debt-to-equity conversion completed…
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Thai car market hits speed bump, FTI urges govt to drive recovery
The Federation of Thai Industries (FTI) is urging a turbocharged response from the government to rev up the nation’s sputtering car market. Demand for motors has hit a roadblock, with a particular skid in pickup truck sales. According to January’s numbers, it’s been a bumpy ride, causing manufacturers to slam the brakes on production by more than 200,000 units over…
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Who qualifies for 2025 Thailand welfare cards?
Thailand will open registration for a new round of state welfare cards next month, aimed at supporting low-income people and vulnerable groups. It has been two years since the last registration round, from September 5 to October 31, 2022. This time, the government is gearing up to help even more people in need, with a financial aid package of 1,545…
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Thai farmers demand rise in rice price to 10,000 baht per tonne
Farmers congregated at Government House in Bangkok, yesterday, February 19, urging the government to increase rice prices from the current 6,000 baht to 10,000 baht per tonne. Farmers from various provinces, including Sukhothai, Phitsanulok, and Suphan Buri, sought meetings with the prime minister, the agriculture minister, or the commerce minister to discuss solutions to declining rice prices. Deputy Commerce Minister…
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Thai Union hosts PM in Songkhla to boost seafood industry
Executives from the Thai Union Group Public Company Limited, a global leader in the seafood industry, hosted Prime Minister Paetongtarn Shinawatra and her Cabinet yesterday, February 18. The visit took place at the Thai Union Seafood Company’s frozen seafood processing plant in Songkhla province. The aim was to understand challenges and explore strategies to enhance the competitiveness of Thailand’s fisheries…
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