Track Thailand's economy in English — business, trade, finance and market news, covered by Thai PBS World, Thailand's public broadcasting service.
Thailand’s rice output this year may drop by as much as 6%, to between 25.1 and 25.6 million tonnes, due to the impacts of the El Niño weather phenomenon, according to a forecast by the Kasikorn Research Centre (KRC). KRC predicts that total rice production this year will be between 32.7 and 33.2 million tonnes,
The Bank of Thailand’s monetary policy committee unanimously voted on Wednesday to increase the policy rate by 0.25 percentage point to 2%, with immediate effect. Piti Disyatat, secretary of the committee, said they deemed it appropriate to continue the gradual policy normalisation, in light of the growth and inflation outlooks. He said the committee is,
Thailand’s continuing export contraction, now in its seventh consecutive month, with April down by 7.6% year on year, will pose a real challenge for the new government, according to a forecast by the Kasikorn Research Centre (KRC). The centre attributed the slide to the global economic slowdown, putting pressure on purchasing by Thailand’s major customers,
Any delay in getting the new government in place could damage the country, as the international community is watching closely, Sanan Angubolkul, chairman of the Thai Chamber of Commerce (TCC) said on Wednesday. The sooner the forming of the government is completed the better, Sanan said, no matter who leads it. Sanan was speaking after
The Move Forward Party, the leader of the coalition tipped to form the next government after the May 14 election, has proposed using zero-based budgeting (ZBB) to replace the current practice, which the party has blamed for the poor response to the people’s needs due to bureaucratic red-tape. What is zero-based budgeting? The party says
Raising the minimum wage in Thailand to 450 baht a day will make workers happy, but certainly not business operators, as reflected in the negative opinions voiced by various business groups. Poj Aramwattananont, vice chair of the Thai Chamber of Commerce, has warned that the increase in the minimum wage, as pledged by parties during
The construction of three suburban electric train lines in and around Bangkok, the orange, yellow and pink lines, is over 90% complete and proceeding according to plan, with the pink line, between Khae Rai and Min Buri, ready for trial runs in January next year and full operation mid-year, Anucha Burapachaisri, the government spokesman said
Thailand is expected to earn 70 billion baht from the five-day food and beverage trade fair THAIFEX-Anuga Asia 2023 as the event returns in full force for the first time since the COVID outbreak. Organized by the Ministry of Commerce’s Department of International Trade Promotion (DITP) in collaboration with the Thai Chamber of Commerce and
The Federation of Thai Industries (FTI) will submit a five-point proposal, including the new minimum wage and energy fees, to the new government for urgent consideration. The FTI’s move follows a meeting yesterday (Tuesday) between executives of the FTI, led by its chairman Kriengkrai Thiennukul, and key members of the Move Forward party, headed by
Move Forward’s leader Pita Limjaroenrat stole the limelight again on Tuesday by using a motorcycle taxi to go to a meeting at the Federation of Thai Industries (FTI). He did not say why he used a bike, but Sathorn Road, where the FTI is situated, is infamous for its traffic congestion. This was the second
Members of the Federation of Thai Industries (FTI) are scheduled to meet with key members of the Move Forward party, to express their concern over the party’s policy to increase the minimum wage to 450 baht/day, according to FTI chairman Kriengkrai Thiennukul. He said that there are several economic items in the MoU, which the
Amid the strong likelihood of the next government being formed by a coalition led by the Move Forward Party, the biggest gainer in the May 14 general election with 152 seats, it is worth looking at the big promises made by the main parties to the electorate and the fiscal burden they would entail for
