The Thai economy will face many headwinds but also tailwinds next year, mainly from the global economy and geopolitical tensions. In 2022, the Thai economy slowly recovered from the Covid pandemic as lockdowns ended and the economy was reopened to international travel. After contracting by more than 6% in 2020, Thailand’s real gross domestic product […]
The Thai economy will continue to recover from last year, but is yet to reach its pre-Covid level. In 2022, economic growth is expected to be 3.0-3.5%, against 0.8% last year and -6.1% in 2020. This growth rate, however, still does not put the Thai economy back to its value in 2019. The value of […]
COVID-19 ravaged Thailand’s famous tourism sector And even the recent border openings have only pulled in a trickle of travellers. But in Thailand’s big industrial districts, things look very different. Thai economists say manufacturing is roaring back to life and exports could hit record highs not seen even before the pandemic. Kirida Bhaopichitr is Economics […]
Kirida Bhaopichitr The Thai economy will grow next year after contracting by almost 10% this year. Next year, the Thai economy is expected to expand 3 to 4% from this year. It will not be until the end of 2022 before the Thai economy returns to its pre-Covid level of 2019. However, if there is another […]
Kirida Bhaopichitr The Thai economy will continue to grow slowly in 2020, albeit slightly faster than this year. It is projected to expand at 2.5-3.0%, compared with 2.5% in 2019, in line with faster growth in the global economy next year. The Thai economy’s main drivers in 2020 will be recoveries in export volumes and […]
KIRIDA BHAOPICHITR PUNPREECHA BHUTHONG KITTIPHAT BUAUBOL As a small, open economy, Thailand stands to be affected by global economic developments. The recovery of the US economy, with higher interest rates and bond yield rates, has an impact on capital flows and the Thai baht exchange rate. The rise in global oil prices from geopolitical tensions […]
The Thailand Development Research Institute (TDRI) is warning auto parts supply chain players to prepare for the transition to next-generation cars, saying some components will no longer be necessary for electric vehicles (EVs). Exhaust pipes and engines; for example, are installed in cars with internal combustion engines but are not needed in EVs. Research director […]
Kirida Bhaopichitr The Thai economy this year is poised to grow close to 4%, the highest rate since 2012. There are three main reasons for growth this year: a recovery in exports, continued robust growth in tourism, and high farm incomes in the first half of the year. However, growth has been so far concentrated […]
Kirida Bhaopichitr “Benefits, costs should be carefully evaluated at national level rather than only at an individual level.” The Trans-Pacific Partnership (TPP) is a trade agreement among 12 countries led by the US, along with Canada, Mexico, Peru, Chile, Australia and New Zealand. The founding members in Asia are Japan, Singapore, Malaysia, Vietnam, and Brunei, […]
Pathom Sangwongwanich Country hindered by informal sector Thailand’s large informal sector is obstructing employees’ social safety and public services, says the World Bank, which suggests a formalisation process as a solution. Norman Loayza, a World Bank economist and lead author of the bank’s “World Development Report 2014”, said Thailand was hampered by a large informal […]
