Track Thailand's economy in English — business, trade, finance and market news, covered by Thai PBS World, Thailand's public broadcasting service.
The tri-partite Wage Committee has approved, by a vote of 7:5, a new formula for the calculation of minimum wages, which is tentatively expected to come into force in April, initially in Bangkok and nine other provinces. The new formula will factor in labour productivity, labour’s contribution to production, the inflation rate, the number of
The State Railway of Thailand (SRT) has agreed to adjust the design of a section of the Thai-Chinese high-speed train project, in response to complaints from people in Nakhon Ratchasima province. The changes will result in additional construction costs and further delays in the project of at least two years. According to SET Governor Nirut
The National Credit Bureau has raised the alarm over the prospect of about 610 billion baht in housing loans becoming bad debts, as it urges the government to come to the rescue of the debtors expeditiously. Surapol Opasatien, CEO of the National Credit Bureau, said that there are worrisome signs that about 610 billion baht
Exports are bringing cheer to Thailand’s gloomy economy, growing 10 per cent year on year in January, the highest in 19 months. The January results marked six consecutive months of export growth, offering hopes of gross domestic product (GDP) expanding greater than last year’s sluggish 1.9 per cent. Thailand’s export of merchandise contracted 1.5 per cent
Thailand and Kazakhstan are expected to sign a memorandum of understanding (MoU) in April to permanently exempt Thai and Kazakh citizens from requiring pre-travel visas for travel to each other’s country, according to Deputy Foreign Minister Jakkaphong Sangmanee. Currently, Kazakh citizens can visit Thailand without a visa, following the Thai cabinet’s decision on September 25th
Thailand’s Cane and Sugar Board will propose that the government increases the incentives for sugarcane growers not to burn it before harvesting. Virit Viseshsindhu, secretary-general of the board, said that the current price difference between fresh and burned sugarcane, even allowing for the “no burn” subsidy, is not enough to persuade many growers to refrain
Thai exports have risen for six straight months, with export value for January increasing by 10%, to US$22.6 billion, while imports went up by 2.6%, to US$25.4 billion, resulting in a trade deficit of US$2.8 billion, according to Kirati Ratchano, permanent secretary of Commerce. He said that January’s export growth was the highest in 19
Thailand’s household debt remains worryingly high at almost 91 per cent of gross domestic product (GDP) as of the third quarter of last year, due largely to a debt overhang since COVID-19 hit the country in 2020. Corporate debt was almost as high at 87.4 per cent of GDP in the same period, given the
Residents living around Thailand’s only commercial potash mine warn that Prime Minister Srettha Thavisin’s plan to transform the country into a leading potash producer risks inflicting devastating environmental impacts in the Northeast, also known as Isaan. “The prime minister talks about how fertilizer prices will drop. But what good will it do if our land
The Electric Vehicle Board has agreed to promote the use of commercial electric vehicles in Thailand, such as truck or buses, by making the purchase price tax deductible, according to Narit Therdsteerasukdi, secretary-general of the Board of Investment (BoI). He said that this is intended to encourage the business sector to switch to the use
Thai Airways International has entered into a deal to acquire a fleet of 45 Boeing 787 Dreamliner aircraft, plus an option on another 80, with the deal also offering the carrier a route to the new 777X. The aircraft will be powered by GE Aerospace GEnx engines and delivery is to be spread over 10
Prime Minister Srettha Thavisin has urged the Monetary Policy Committee (MPC) to call a special meeting to review its decision to maintain the policy rate at 2.5%, without waiting until its next scheduled meeting on April 10. In his “X” post on Monday night, the prime minister said that the economic performance figures released by
