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 Thailand vs. the West: What expats save on healthcare each year
Healthcare in Thailand is much cheaper than in Western countries, making it a great choice for expatriates looking for affordable medical care. Both public and private healthcare options offer high-quality services, with savings of up to 80% on procedures like...
-
Price of made-to-order food surge in Thailand
Price inflation continues to rear its head in Thailand and across the globe. The latest item to get more expensive is made-to-order food. The average price per dish of made-to-order food bumped up by about 3.7 baht or 6.7% in May, according to a year-on-year comparison by the food delivery app Line Man Wongnai. The report said that dishes with…
-
Sri Lanka’s doctors and nurses demand fuel and medicine
Sri Lanka’s medical staff is suffering from a shortage of fuel and medicine. Doctors and nurses say they are struggling to find enough fuel to get to work, even though they are designated, essential workers. On top of this, the island nation is suffering power cuts and shortages of food and medicines. On Wednesday, over 100 medical staff from the…
-
Sri Lanka suspends sale of petrol to public for next 2 weeks
The supply of petrol for cars in Sri Lanka has been suspended due to the country’s greatest economic crisis in decades. Only buses, trains, ambulances, and transport needed to deliver food will be permitted to refuel over the next 2 weeks. Authorities revealed that only 9,000 tonnes of diesel and 6,000 tonnes of gasoline are available to support the nation’s…
-
China calls for enhanced relations with Thailand
China called for enhanced relations with Thailand ahead of the National Assembly of Thailand’s 90th anniversary. Li Zhanshu, chairman of China’s National People’s Congress Standing Committee, yesterday congratulated the Thai National Assembly for making positive contributions to maintaining social justice and promoting economic development in the kingdom. “The legislatures of China and Thailand have maintained friendly exchanges, and have played…
-
Thailand plans to negotiate with Saudi Arabia over fertiliser
Thailand is suffering a fertiliser shortage, with the country’s farmers bearing the high costs of imported fertilisers. Now, the Chamber of Commerce plans to negotiate with Saudi suppliers. Saudi Arabia recently allowed 2 of its suppliers to sell fertiliser to Thailand, according to Thai Commerce Minister Jurin Laksanawisit. The International Trade Promotion Department is scheduled to hold a business matching…
-
Thai officials say price of bagged rice won’t jump
In the midst of the world’s ongoing price inflation, Thailand’s Commerce Ministry says retail prices on bagged rice will not jump. The chairman of the Thai Rice Packers Association said in a meeting yesterday that the association has cooperated with the Internal Trade Department to freeze retail prices. The Commerce Ministry has noted, however, that some sellers could reduce promotional…
-
Phuket officials say local Sunday market rakes in 2 million baht a week
Phuket officials say that a weekly market in the island province’s main city district has raked in at least 2 million baht a week this month. A local leader said the famous “Lard Yai” Phuket Street Sunday Market has seen a jump in tourists visiting it every week, now that Thailand is slowly winding its tourism industry up again. The…
-
-
Sri Lanka petroleum company in extreme debt, country hitting “rock bottom”
Sri Lanka’s economic crisis is snowballing even further. The island nation’s PM Ranil Wickremesinghe said Sri Lanka might be falling to “rock bottom” now that its major petroleum corporation is in extreme debt. He said that because of the debt, no other countries are willing to provide Sri Lanka with fuel. “Currently, the Ceylon Petroleum Corporation is $700 million in…
-
Thai tourism targets half a million Korean visitors by end of the year
The Tourism Authority of Thailand aims to draw in over 500,000 South Korean travellers in 2022 and hopes to increase that to 1.3 million next year. This comes after the easing of travel restrictions in South Korea and Thailand. In 2019, South Korea was an important market for Thailand, with around 1.9 million visitors bringing in 75 billion baht in…
-
Thai Army lifts ban on Lazada to help country boost economy
The Royal Thai Army has lifted a boycott of the e-commerce platform Lazada. The company, owned by the Alibaba Group, was banned from delivering parcels to military premises all over the country for 42 days because of an offensive advert that insulted the Thai Royal Family, and disabled people. Last month Lazada goods were banned from entering Royal Thai Army…
-
Thai government should reconsider 2pm to 5pm alcohol ban
Secretary-general of the Kla Party, Atavit Suwannapakdee, believes the government should lift the restriction on selling alcohol from 2pm to 5pm to help the tourism industry recover, adding there are no rules restricting the hours of alcohol sales in any other Southeast Asian country. “Thailand used to attract 40 million tourists a year, generating 3 trillion baht in revenue, but…
-
Bangkok man steals gold valued at 2 million baht after his crypto stash tanked
The impact of the crypto crisis is rearing its head in Bangkok. Yesterday, a man stole necklaces valued at 2 million baht from a gold shop in Phra Nakhon district of Thailand’s capital city. The man entered the gold shop before pulling out a gun, waving it at staff and customers. The shop’s owner, staff, and customers all fled to…
-
Poll shows that Thais like ‘soft power’
Thais are liking their government’s new ‘soft power’ promotion of the Kingdom to the rest of the world and to boost the local economy. The idea of soft promotion, or indirect promotion, took off after young rapper ‘Milli’ promoted the country’s signature sticky rice and mango dish in April. In the scheme, Thai authorities aim to promote the ‘5 Fs’…
-
Phuket Zoo to close down following Covid-19 economic destruction
Phuket Zoo is the latest casualty of Covid-19 restrictions’ devastation on the island province’s tourism economy. The zoo is closing down, and all its animals have been sent to new homes, according to the owner. The zoo’s owner and operator, 42 year old Suriya Tanthaweewong, told The Phuket News this week that the zoo started to close when the pandemic broke…
-
Sri Lankan officials say country has enough fuel for 5 more days
Sri Lanka’s crisis is going from bad to worse. The country’s energy minister announced yesterday that Sri Lanka’s fuel stocks will last for about 5 more days. Fuel shortages have already worsened this week with kilometres-long lines at some gas stations across the country. Some of the horrendously long lines have broken into protests as car owners wait, sometimes overnight,…
-
Pakistani government tells people “drink less tea” amidst economic crisis
Pakistan is the latest of several countries hit by an economic crisis. In the midst of the crisis, Pakistan’s Federal Minister for Planning and Development has some interesting instructions for citizens: drink less tea. Pakistan is the world’s largest importer of tea, buying more than US$640 million worth in 2020, according to the Observatory of Economic Complexity. The minister, Ahsan…
-
Labour Minister confirms 300 jobs axed by Shopee Thailand
The Labour Minister, Suchart Chomklin, confirmed yesterday’s report on the Shopee redundancies was accurate. He says 300 jobs are being axed, but insisted the Labour Ministry would help ensure sacked workers are looked after in accordance to employment legislation. The Singaporean company Sea announced during a town hall meeting yesterday of the planned layoff for one of its core businesses,…
-
Commerce Ministry promise to keep consumer products under control during high inflation
The Commerce Ministry says it will work hard to keep consumer goods as affordable as possible without neglecting the demands of manufacturers. The ministry believes it has created a “win-win” strategy in which consumers, businesses, manufacturers, and farmers can all benefit, according to commerce minister, Jurin Laksanawisit. “If manufacturers suffer huge losses, they will stop producing. We ask for cooperation…
-
Export of Thai durian made 187 billion baht in 2021
Rice is no longer Thailand’s largest export. It’s not rubber either, it’s durian. The export of the popular fruit made almost 187 billion baht in 2021. Rice made 100 billion baht, while rubber brought home 90 billion baht. Thailand is set to keep its status as the world’s largest durian supplier for the next five years. However, with intense competition…
-
Employment at Thailand’s venues slowly picks up following nightlife reopening
Aspiring bartenders can dream again, because now that Thailand’s nightlife is ‘officially’ back on, venues are slowly employing again. The country’s pubs, bars, karaoke bars, massage parlors and other venues are picking up the pieces after having to lay off employees during the Covid-19 pandemic. This news comes after Thailand stopped requiring such venues to call themselves ‘restaurants’ on June…
-
Thai stock market is a favorite among foreign shareholders
Last month, foreign investor confidence in Thai stocks stayed strong, with the kingdom’s stock exchange recording net inflows of nearly 140 billion baht for the sixth month in a row. International investors believe that any food shortages will have a minimal effect on the Thai economy and that the tourism sector will rebound in the second half of 2022, according…
-
Budget bill boost to government
PM Prayut Chan o cha’s government received a boost today when Parliament passed the first reading of an almost 3.2 trillion baht draft budget bill for the 2023 fiscal year starting October 1. After a 3-day debate, the bill passed with 278 votes in favour, 194 against, and two abstentions. Pm Prayut says the bill will help the nation restore…
-
Government under fire on military spending plans
The government yesterday was criticized over the Defence Ministry’s weapons procurement plans. Shots were fired by deputy Pheu Thai Party leader Yuttapong Charasathien who says a number of procurement projects lack transparency and spending is too high. Yuttapong criticized the navy’s request of almost 41 million baht for a number of weapons systems, but in particular its decision to buy…
-
MP calls House sub-committees ‘dens of money extortion’
A Democrat MP yesterday pointed the finger at closed-door meetings of House sub-committees and called them “dens of money extortion.” Rangsima Rodrasamee, Democrat MP for Samut Songkhram, insists all meetings of sub-committees vetting the 2023 budget bill, after it passes its first reading, should be televised live. The Democrat MP says broadcasting the meetings live would scrutinise how the bill…
-
Thai industry gets high on government’s green hemp policy
The controversial plan to use hemp in the Thai textile industry is part of the government’s green policy. Business plans are already underway by the Commerce Ministry to promote hemp fibre in the Thai textile arena as it offers high potential in the global market. Hemp and cannabis were classified as drugs under Category 5 the Narcotics Act of Thailand,…
-
Pattaya, the land of sex, drugs, and film production?
Pattaya is known for a lot of things- drug busts, violent fights, and other various scandals. But one Thai government agency is hoping to make Pattaya a “City of Film” in the next 5 years, between 2022 and 2027. Can Thailand’s Sin City become a movie-making destination? Thailand’s Designated Areas for Sustainable Tourism Administration is promoting the tourist hotspot as…
-
Foreign arrivals in April show things are looking up for tourism, the economy
Things are looking up for the Thai economy, thanks to an increase in foreign and domestic tourism in April, according to the Bank of Thailand. The Bangkok Post also reports a year-on-year increase in consumer spending during the month of April. The easing of travel restrictions has brought more foreign tourists to the kingdom, with numbers up from 210,836 in…
-
PM Prayut’s 3 trillion baht budget slammed ‘pointless’ by MFP leader
Opposition Move Forward Party leader Pita Limjaroenrat has slammed PM Prayut Chan-o-cha’s spending plans ahead of tomorrow’s budget bill as “pointless.” PM Prayut will defend the government’s 3.2-trillion-baht 2023 budget bill in a three-day House debate starting tomorrow, explain why the sum is so large and his spending plans for the fiscal year. But the MFP leader landed the first…
-
Now there’s a Pepsi price surge coming to Thailand, too
Amidst Thailand’s skyrocketing prices on fuel, postal services, and palm oil, another item’s price is set to go up- Pepsi. Suntory Pepsico (Thailand) Beverage announced today that Pepsi’s price will rise by up to 2 baht per bottle starting June 1, now that the cost of plastic bottles and aluminium cans has risen. The company noted, however, that the price…
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.