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 Why health insurance costs more each year and how expats in Thailand can save more money
Each year, many expats living in Thailand see their health insurance premiums go up and often without a clear reason. This can be frustrating, especially when you're trying to plan your budget. But by understanding why prices rise and learning...
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Survey says Thailand’s worker’s debt has hit a high after over a decade
A survey by the University of the Thai Chamber of Commerce says the average debt of each worker’s household in Thailand is 217,000 baht this year. This is a 14 year high for Thailand. At the end of 2021, the country’s overall household debt was 14.6 trillion baht, one of the highest in Asia, per capita. Most service sector workers…
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Price of ‘Mama’ noodles to increase
One of the cheapest ways to satisfy your hunger in Thailand is to eat instant ‘Mama’ noodles, which have cost an affordable 6 baht per packet since 2014. However, Mama’s producer said they plan to increase the price of their instant noodles next month to compensate for rising costs of transport and raw materials. Thailand’s Minister of Commerce said he…
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Thailand officials say diesel will be 32 baht per litre from May 1
Get ready to say goodbye to Thailand’s 30 baht per litre price cap on diesel on May 1. Starting on Sunday, the price will be 32 baht per litre, according to the Oil Fuel Fund Office. Thailand’s permanent secretary for energy said the current 11 baht subsidy per litre is falling to 9.6 baht per litre. Officials from Thailand’s energy…
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Thailand’s postal rates to go up after nearly 2 decades
For the first time in 18 years, Thailand’s postal rates are going up. The country’s Digital Economy and Society Ministry said that according to data from 2011-2020, Thailand Post has a social service burden of up to 18.4 billion baht, and it’s likely to keep rising. Yesterday, the Cabinet approved a proposal by the ministry to raise rates. Thailand’s profit…
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Thailand’s Prayut calls for sympathy on end of diesel price cap
As Thailand’s price cap on diesel comes to a screeching halt next month, PM Prayut Chan-o-cha is asking the public to try to understand the government’s limits in controlling prices. On May 1, the government is set to lower the subsidy on diesel. Up until now, the price cap has kept it at 30 baht per litre. On Tuesday, Thailand’s…
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Hundreds queue for free food handouts in Pattaya
Images of hundreds of residents queuing up to receive free bags of rice and other dried foods on April 23 2022 in Pattaya suggest that Thailand’s economy still has a long way to go on the road to recovery. During “lockdown” in Pattaya in 2020, huge crowds of people queuing for 200 baht food and drinks handouts from Rom Pho…
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Price of Thai consumer goods might increase due to diesel price hike
The price of diesel in Thailand is set to increase next month, beyond the 30 baht per litre cap, but the Commerce Ministry has promised to do everything it can to keep consumer goods costs under control. The public is now worried about the products being more expensive due to the increase in diesel price. The diesel prices, connected to…
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Thailand to host ‘economic roadshows’ to attract foreign investors
Thai PM Prayut Chan-o-cha has ordered the relevant authorities to host “economic roadshows” to draw foreign investors back to Thailand. The first event was held in Japan earlier this month, from April 13 – 23, with similar events planned for European countries, as well as the US, South Korea and Taiwan. During a press conference this morning, deputy spokesperson Trisulee Trisaranakul…
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Thailand’s March exports spike nearly 20% year on year
Last month, Thailand’s exports surged at an unexpectedly high rate, jumping by 19.5% when compared to the same time last year. A Reuters poll conducted in March had predicted the country’s exports would only rise by 2.4%. According to the Thai customs department data, 2 major products contributing to the export jump were gold, and electronics. Gold exports in March were…
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Thai commerce chairman welcomes end of PCR test requirement
Following the announcement for major changes to Thailand Pass, a commerce leader is giving the government a great big thank you. Yesterday, the chairman of the Thai Chamber of Commerce, Sanan Angubolkul, thanked the government for getting rid of mandatory RT-PCR tests for visitors on arrival, starting May 1. “The private sector believes the decision will help trade, investment, services…
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Former Phuket prison to transform into spooky tourist attraction
An old Phuket prison no longer housing inmates is now set to become a spooky tourist attraction, providing visitors with a “Twilight Zone” experience. Phuket Prison was built in Phuket Town about 120 years ago, and Phuket officials now plan to turn it into a ‘live museum’ to teach both tourists and locals about its history. In addition to the…
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Southern Thailand province gets a wave of income from Full Moon Party, Songkran
Thailand’s southern province of Surat Thani saw a wave of tourism income generated during the Songkran holiday. Many tourists came to the province for the famous Full Moon Party on Kho Pha Ngan, among other tourist attractions. Tourism officials said the province gathered up a total of 895.7 million baht from 83,000 visitors between April 13-17. The income is up…
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Thailand’s Prayut to hold public forum on economy
Thailand’s PM Prayut Chan-o-cha announced yesterday at a cabinet meeting that the government will hold a public forum on the economy. The date for the forum has not yet been announced. PM Prayut said the government is trying to ensure better welfare for elderly citizens and vulnerable groups in Thailand. He said it wants to introduce measures to help medium-sized…
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Will Milli’s mango stunt help Thailand’s farmers?
After budding Thai rap star “Milli” ate a bowl of sticky rice and mango onstage in front of a crowd of hundreds of thousands at California’s Coachella festival, Thailand’s mango farmers might rake in some dough. Despite being the largest exporter of mangoes in the world, Thailand has had problems with mango shipment due to Covid-19. Sayan Bunying, president of…
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Thai durian shipment to China detected with Covid 19 on packaging
After signs of the coronavirus were detected on the surfaces of boxes of Thai durian, the delivery to China was blocked from entering for 3 days. Companies in Thailand’s fruit export industry have been advised to follow strict Covid-19 guidelines. A shipment of the famous King of Fruits, aka. Durian, from Thailand was reported to be infected at China’s Mohan…
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Thai government to control inflation prices for consumer products
As the Thai government attempts to control inflation, the PM Prayut Chan-o-cha says that there must be no shortages of consumer products or outages, and the prices must not be too expensive. The world wide inflation problems have been created by government’s artificially over-heating economies with quantitative easing rising energy and commodity prices and exacerbated by the ongoing Russia-Ukraine war.…
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Pakistan’s Imran Khan ousted from PM position
Following a parliamentary vote of no confidence last week, Pakistan’s PM Imran Khan has been ousted. The vote came after Pakistan’s opposition parties accused Khan of economic mismanagement, as well as poor governance. The country’s Supreme Court ruled on Thursday that a decision to block the no confidence vote was unconstitutional. Now, Khan claims that opposition to him is backed…
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Songkran: Academics predict 10 year low in festival spending this year
Thailand academics predict the public’s spending during next week’s Songkran holiday will be the lowest in 10 years. An associate professor at the University of the Thai Chamber of Commerce said he expects people to spend around 106 billion baht altogether across Thailand this year. This will be 5.4% less than last year, when public spending was recorded at about…
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Thailand inflation jumps 5.7 percent in March, hits consumers’ wallets hard
In March, Thailand’s inflation saw its highest monthly jump in 13 years, rising to 5.73% year on year. That’s according to the Commerce Ministry’s Office of Trade Policy and Strategy, which pins the blame on the war in Ukraine, which has pushed up fuel, food and electricity prices. This unexpected turn of events has caused the office to adjust its…
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Phuket introduces new seafood and gastronomy “Tastival” festival
Following Phuket’s Roi Rim Lay seafood festival last weekend, the island’s officials have come up with another seafood and gastronomy festival for the first time yesterday. The festival is called “Phuket Tastival Seafood and Gastronomy: Roi-Yok-Lo”. It will run until Monday, April 4. Phuket Deputy Governor Anupap and several other officials attended the opening at Saphan Hin, the huge public…
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Angry protestors try to storm Sri Lanka president’s house following blackout
Following Sri Lanka’s longest power blackout ever recorded, enraged protestors tried to storm the president’s house in Colombo yesterday. Unidentified activists had called for a rally against the president and his family on social media. One resident who lives nearby told AFP he cannot return home because his area is barricaded. The resident said the protestors are “shouting for the…
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Expected computer shortage in Thailand, world
IT workers expect a shortage of computers for sale in Thailand to start between May and June due to Covid-19 impacting producers in China. The chief of sales and marketing at Advice, an IT distributor, told the Bangkok Post that if China’s lockdown continues, as well as the Russia-Ukraine war, computer prices will likely rise. The chief of Advice said…
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Diesel no longer for sale across Sri Lanka, massive blackout
Diesel was unavailable for sale at stations across Sri Lanka today. Petrol is on sale but in short supply, forcing drivers to abandon their cars in long queues. Private business owners say they have already run out of fuel, and even skeleton services may not be possible after Friday. Now, the country is grappling with a 13-hour power blackout, its…
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Finance Ministry expected to adjust 2022 economic forecast from next month
The Finance Ministry will adjust the 2022 forecast for Thailand’s economic growth to focus on the rise in both inflation and energy prices, from next month. According to an unnamed Bangkok Post source, the ministry is concerned about the impact Russia’s invasion of Ukraine will have on overseas arrivals this year. At the start of the year, the ministry had…
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Phuket governor presents campaign to create 10,000 new minimum-wage jobs
As Phuket struggles to pick up its disheveled tourism economy, provincial Governor Narong has a plan for recovery. In a meeting with local government agencies yesterday, Narong presented his plans on a whiteboard. He said the provincial government will work with local government organisations to create 10,000 vacancies. The vacancies, he said, would pay the minimum wage of 336 baht…
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Shenzhen now has more billionaires than New York, China has most in world
Shenzhen in China now has more billionaires than New York City. Meanwhile, China has 1,133 listed “billionaires”, more billionaires (measured in USD) than any other country in the world. These 1,133 Shenzhen billionaires make up 34% of the world’s 3,381 billionaires. This is despite the fact China lost 160 of its billionaires in a government crackdown last year. The crackdown…
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Thailand’s electricity tariff expected to surge higher than ever
After Thailand’s Energy Regulation Commission announced yesterday that the electricity price could rise to four baht per kilowatt hour, the ERC now says it will rise to a record high above that. The ERC says this will be the first time the price has surged this high. The fuel tariff is expected to be 0.24 baht per unit between May…
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Thailand’s power will be more expensive in May
From May until August, Thailand’s electricity price will rise to four baht per kilowatt hour, going up by 0.23-1.3 baht per unit. The country’s Energy Regulatory Commission is raising fuel tariffs following Russia’s invasion of the Ukraine. An ERC spokesman said another reason for the price surge is the declining supply of natural gas from the Gulf of Thailand. Russia’s…
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Province in Western Thailand works to revive tourism in new scheme
The governor of one Western Thai province whose tourism income plummeted this year announced yesterday the need for a “comprehensive strategy” to revive tourism. The province of Prachuap Khiri Khan made 1.85 billion baht in tourism in 2020, but that dropped to 36 million baht in 2021. “We expect travel activities to pick up once Covid-19 is classified as an…
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Thailand’s price cap on diesel will last through May
In the midst of skyrocketing fuel prices around the world, Thailand’s diesel price cap at 30 baht per litre will last until the end of May. After that, a loan of 40 billion baht that supports the subsidy allowing the cap is expected to run out. Thailand’s deputy prime minister, who is also the energy minister, said the country must…
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