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 How to reduce out-of-pocket medical expenses in Thailand?
Managing medical expenses in Thailand is important as healthcare costs continue to rise. The country’s healthcare system includes both public and private options, but even with the Universal Coverage Scheme (UCS) for citizens, many still face high out-of-pocket medical expenses....
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Chinese tourists vanish, Pattaya cruise sinks into crisis
A luxury Pattaya dinner cruise once packed with Chinese tourists is now struggling to stay afloat, after a dramatic drop in visitors forced mass layoffs and desperate reinvention. Ocean Sky Pattaya, a once-thriving restaurant cruise catering largely to Chinese travellers, has laid off 30% of its staff in a drastic move to slash costs as Chinese arrivals dry up. Buncha…
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US tariffs force Thailand to cut growth forecast to 2.1%
The Ministry of Finance has revised its forecast for Thailand’s economic growth this year to 2.1%, down from the previous 3%, citing the impact of US tariffs and a global economic slowdown on Southeast Asia’s second-largest economy. Pornchai Thiraveja, director-general of the Fiscal Policy Office, indicated that if the US imposes a 10% tariff on Thai imports instead of the…
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Bangkok Bank speeds up yuan transfers to boost China trade
Bangkok Bank has launched an expedited yuan transfer service aimed at reducing costs and enhancing trade with China. Pipat Assawamongkol, assistant manager at Bangkok Bank Public Company Limited, announced that the bank now offers faster yuan transfers after receiving approval from China’s central bank to use the CIPS (Cross-border Interbank Payment System). The system allows direct transfers to CIPS member…
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Thailand electricity bills to drop as summer rates slashed
Good news for energy-strapped Thai households and businesses—your next electricity bill might finally give your wallet a break. The Energy Regulatory Commission (ERC) is expected to unveil a revised electricity tariff rate today, April 30, that will bring down costs for millions across the country. The adjustment, known as the Fuel Tariff (Ft) rate, is likely to drop from 4.15…
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Thai Cabinet mulls 10,000 baht handout under pressure
The Thai Cabinet will discuss the third phase of the government’s 10,000 baht handout at its meeting next week, with the rollout planned for May to June. Deputy Finance Minister Julapun Amornvivat confirmed that the schedule remains unchanged. “Everything is well prepared, and no changes have been made.” Approved last month as part of a larger economic stimulus package, this…
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Thailand’s LGBTQIA+ boom to boost economy by 152 billion baht
Thailand’s LGBTQIA+ community is fast becoming an economic force to be reckoned with, with a new study projecting a 152 billion baht boost to the nation’s GDP this year, fuelled by local spending and a surge in LGBTQIA+ tourism. According to research from Mahidol University’s College of Management (CMMU), more than 5.9 million LGBTQIA+ persons, around 9% of Thailand’s population,…
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Rate expectations: BoT tipped to slash interest rates
Thailand’s top bankers are bracing for a financial shake-up, with the central bank set to cut interest rates this week as economic headwinds from abroad leave growth floundering. The Bank of Thailand (BoT) is widely expected to trim its key policy rate by 0.25 percentage points tomorrow, April 30, as the kingdom battles a growing storm of economic setbacks. Kasikorn…
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Thailand PM pushes major transport projects in northeast region
Prime Minister Paetongtarn Shinawatra is advocating for major transport development projects in northeast Thailand, aligning with an upcoming mobile Cabinet meeting agenda in Nakhon Phanom tomorrow, April 29. This initiative precedes the PM’s scheduled visit to the area today, where the government is considering transport projects in Sakon Nakhon, Nakhon Phanom, and Mukdahan provinces. The aim is to transform the…
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Finance Ministry confirms 10,000 baht digital currency distribution
The Finance Ministry has confirmed the distribution of 10,000 baht in digital currency for phase three during the second quarter. The application is ready, with only integration with banks remaining. The release date for phase four has also been announced. Deputy Finance Minister Chulapan Amornvivat yesterday, April 22, stated that the ministry remains committed to its schedule for the economic…
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World Bank backs Thailand’s retirement lottery to boost savings
Thailand’s retirement lottery has received international acclaim, with the World Bank calling it a “remarkable innovation” for boosting retirement savings. The scheme, which cleverly combines the public’s love for gambling with the need for financial security, has sparked significant interest at the World Bank-International Monetary Fund (WB-IMF) Spring Meetings in Washington, D.C. The World Bank has expressed strong interest in…
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Thailand urges stores to keep pork prices stable amid shortage
The Department of Internal Trade (DIT) urges retail and wholesale stores to maintain stable pork prices despite recent supply-driven increases. Wittayakorn Maneenetr, DIT Director General, stated that consultations with the Department of Livestock Development and the Swine Raisers Association of Thailand have highlighted a reduced availability of pigs. Approximately 60,000 pigs are supplied daily, sufficient for domestic needs. The recent…
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Thai rice exports drop 30% as Vietnam overtakes in global market
Thai rice exports have seen a significant 30% decline in the first quarter, raising concerns as Vietnam overtakes Thailand to become the world’s second-largest rice exporter. Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association, reported that during the first quarter this year, Thailand exported 2.1 million tonnes of milled rice, a drop from the same period last year.…
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Phuket rakes in billions but begs for budget help
It may be Thailand’s crown jewel of tourism, raking in nearly 500 billion baht in revenue last year, but Phuket is struggling with crumbling infrastructure, water shortages, and traffic chaos — and local leaders say it’s time the government pays attention. Last year, Phuket welcomed 13–14 million tourists, generating 497.5 billion baht in revenue. Yet, despite the economic windfall, Governor…
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Thai massage steals spotlight at Osaka Expo 2025
Thailand is making waves and easing aches on the global stage, as the ancient art of Thai massage steals the spotlight at the World Expo 2025 Osaka Kansai. With expert therapists, soothing techniques, and herbal traditions on full display, visitors are lining up in droves to experience a touch of Thailand’s healing magic. The Department of Thai Traditional and Alternative…
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Songkran crowds pour 1 billion baht into Thai economy
It wasn’t just water flying this Songkran—cash was too. Thailand’s Maha Songkran World Water Festival has soaked the nation in celebration and injected a whopping 1.58 billion baht into the tourism industry, making it one of the most lucrative holiday events in recent memory. According to Government Deputy Spokesperson Anukul Phruksanusak, the five-day spectacle, held from April 11 to 15,…
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Thailand to negotiate US trade policies, avoid pork imports
Deputy Prime Minister and Finance Minister, Pichet Choonhavan, outlined five strategies to address the issue of the so-called Trump tariffs, emphasising that Thailand will not import pork due to concerns about the impact on domestic producers. Following a meeting on Thailand’s approach to US trade policies, Pichet revealed that while no specific date has been set for negotiations with the…
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Chiang Mai aims for fingernail dance world record
In celebration of tradition and unity, Chiang Mai is preparing to break a Guinness World Record next Friday, April 19, with over 20,000 traditional fingernail dancers performing together at the historic Three Kings Monument. The event marks the ancient northern city’s 729th anniversary and promises to be one of the most spectacular cultural displays ever staged in Thailand. Organisers say…
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Nestlé challenges Thai court ban on Nescafé production
Nestlé has expressed concern for small business owners following a court order prohibiting the production and sale of Nescafé in Thailand. The company is preparing to file an appeal after Chalermchai Mahagitsiri, a shareholder in Quality Coffee Products Co., Ltd. (QCP), sought a temporary injunction. Yesterday, April 9, a report detailed that Chalermchai initiated legal proceedings at the Min Buri…
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Macau jobs offer Thais up to 93k baht plus perks
Thai nationals now have the chance to land jobs at one of Macau’s most prestigious employers, with salaries reaching up to 93,453 baht per month. Yesterday, April 9, Somchai Morakotsriwan, Director General of the Department of Employment, announced a major recruitment drive under the Ministry of Labour for positions at MGM Grand Paradise Limited, a luxury resort and casino operator…
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Thailand student loan defaulters face 3,000 baht salary cuts
Thousands of student loan borrowers are in for a financial shock as the Student Loan Fund (SLF) prepares to slash an extra 3,000 baht from monthly salaries — and it’s all starting this month. The move has sparked a storm of confusion and concern among debtors, many of whom claim they’ve been making payments regularly. But according to the SLF,…
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Thailand and Bhutan sign landmark Free Trade Agreement
Thailand and Bhutan have signed a landmark Free Trade Agreement (FTA), strengthening economic ties and paving the way for closer trade cooperation. The historic deal was signed during Bhutanese Prime Minister Tshering Tobgay’s visit to Bangkok last week, coinciding with the 6th BIMSTEC Summit. Bilateral trade between the two countries has already surpassed 460 million baht, and Tobgay expressed confidence…
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Rice and fall: Thai fragrant rice at risk as US tariffs give Vietnam edge
Thailand’s Hom Mali fragrant rice faces a major threat in the US market as new reciprocal tariffs imposed by the US could see the country lose its competitive edge to Vietnam. The Thai Rice Exporters Association has raised concerns after the US imposed a steep 36% tariff on Thai rice, which will push prices up to US$1,400 per tonne from…
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Fuel prices in Thailand to drop by 0.50 baht per litre from April 4
Fuel prices will drop today, giving a welcome relief to motorists ahead of the Songkran festival. Starting today, April 4, petrol and diesel prices will decrease by 0.50 baht per litre, thanks to a government initiative aimed at easing the financial burden on citizens travelling home for the traditional Thai New Year celebrations. PTT Station made the announcement yesterday, April…
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Thai construction materials price index hits 112.8 in March
The March 2025 construction materials price index, as reported by Poonpong Naiyanapakorn, Director of the Office of Trade Policy and Strategy under the Ministry of Commerce, rose to 112.8. This marks a 0.5% increase compared to March 2024, continuing a 10-month growth trend. The increase is attributed to accelerated government budget disbursements in the first quarter, driving demand for construction…
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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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Earthquake causes up to 100 billion baht damage, economy unaffected
Finance Minister Pichai Chunhavajira stated that the recent earthquake damage has not impacted the economy, while reaffirming the government’s commitment to support affected individuals. Reports suggest that up to 5,500 buildings in the capital might have sustained damage, with total financial losses potentially reaching 100 billion baht. Pichai mentioned on March 28, the day of the earthquake, that the ministry,…
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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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