Soft landing likely for this dragon year

The Year of the Dragon brings with it the expectation that the direction of the global economy will be better than that of 2023. Despite earlier concerns about a sharp global economic downturn, recent developments suggest a soft landing for 2024. The World Bank recently reported that global economic growth will be 2.4% this year, […]

Uncertainty ahead for Thai economy

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 […]

Beyond Tourism: How Thailand Economy Is Bouncing Back From COVID-19

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 […]

Thailand’s economic outlook for 2021

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 […]

Thai economy’s rocky road in 2020

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 […]

US-China trade war may benefit Thailand long term

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 […]

Warnings against next-generation shift

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 […]

World Bank urges risk board

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 […]