Economy News
Discover the latest updates on Thailand’s economy with our in-depth coverage of breaking news, developments, and events shaping its financial landscape. Stay informed and ahead of the curve with our thorough analysis and insights into the business sectors, financial markets, and government policies of Thailand.
Stay ahead in Thailand’s dynamic and constantly evolving economy by subscribing to our newsletter and following us on social media.
-
Truck drivers rally in Bangkok against spiking diesel price
Now that Thailand has announced the upcoming end of its diesel price cap, Bangkok truckers have rallied today to demand that the price cap continues. Currently, the price for diesel is capped is 30 baht per litre. But On Tuesday, Thailand’s Energy Minister said the retail price is now at 40 baht per litre, so the government have had to…
-
Thailand’s Prayut calls for sympathy on end of diesel price cap
As Thailand’s price cap on diesel comes to a screeching halt next month, PM Prayut Chan-o-cha is asking the public to try to understand the government’s limits in controlling prices. On May 1, the government is set to lower the subsidy on diesel. Up until now, the price cap has kept it at 30 baht per litre. On Tuesday, Thailand’s…
-
Hundreds queue for free food handouts in Pattaya
Images of hundreds of residents queuing up to receive free bags of rice and other dried foods on April 23 2022 in Pattaya suggest that Thailand’s economy still has a long way to go on the road to recovery. During “lockdown” in Pattaya in 2020, huge crowds of people queuing for 200 baht food and drinks handouts from Rom Pho…
-
Price of Thai consumer goods might increase due to diesel price hike
The price of diesel in Thailand is set to increase next month, beyond the 30 baht per litre cap, but the Commerce Ministry has promised to do everything it can to keep consumer goods costs under control. The public is now worried about the products being more expensive due to the increase in diesel price. The diesel prices, connected to…
-
Thailand’s labour ministry hopes to export 50,000 workers
Now that the Covid-19 situation across the world has calmed down a bit, Thailand’s Labour Ministry expects to send about 50,000 workers abroad this year. The Department of Employment’s PR office said now that restrictions have largely eased, Thailand’s labour exports are set to resume in large numbers. So far, labour export agreements have been signed with two countries, Saudi…
-
Thailand’s March exports spike nearly 20% year on year
Last month, Thailand’s exports surged at an unexpectedly high rate, jumping by 19.5% when compared to the same time last year. A Reuters poll conducted in March had predicted the country’s exports would only rise by 2.4%. According to the Thai customs department data, 2 major products contributing to the export jump were gold, and electronics. Gold exports in March were…
-
Thai commerce chairman welcomes end of PCR test requirement
Following the announcement for major changes to Thailand Pass, a commerce leader is giving the government a great big thank you. Yesterday, the chairman of the Thai Chamber of Commerce, Sanan Angubolkul, thanked the government for getting rid of mandatory RT-PCR tests for visitors on arrival, starting May 1. “The private sector believes the decision will help trade, investment, services…
-
Former Phuket prison to transform into spooky tourist attraction
An old Phuket prison no longer housing inmates is now set to become a spooky tourist attraction, providing visitors with a “Twilight Zone” experience. Phuket Prison was built in Phuket Town about 120 years ago, and Phuket officials now plan to turn it into a ‘live museum’ to teach both tourists and locals about its history. In addition to the…
-
Thailand’s diesel price expected to spike starting May 1
Even though Thailand’s energy minister vowed last month to keep the 30 baht per litre cap on diesel prices until the end of May, officials now expect the diesel price to start pushing 35-36 baht per litre by the start of May. The director of the Energy Policy and Planning Office says all agencies have been instructed to plan how…
-
Thailand’s Prayut to hold public forum on economy
Thailand’s PM Prayut Chan-o-cha announced yesterday at a cabinet meeting that the government will hold a public forum on the economy. The date for the forum has not yet been announced. PM Prayut said the government is trying to ensure better welfare for elderly citizens and vulnerable groups in Thailand. He said it wants to introduce measures to help medium-sized…
-
Will Milli’s mango stunt help Thailand’s farmers?
After budding Thai rap star “Milli” ate a bowl of sticky rice and mango onstage in front of a crowd of hundreds of thousands at California’s Coachella festival, Thailand’s mango farmers might rake in some dough. Despite being the largest exporter of mangoes in the world, Thailand has had problems with mango shipment due to Covid-19. Sayan Bunying, president of…
-
Thai durian shipment to China detected with Covid 19 on packaging
After signs of the coronavirus were detected on the surfaces of boxes of Thai durian, the delivery to China was blocked from entering for 3 days. Companies in Thailand’s fruit export industry have been advised to follow strict Covid-19 guidelines. A shipment of the famous King of Fruits, aka. Durian, from Thailand was reported to be infected at China’s Mohan…
-
South Korea is the most expensive country to raise kids
South Korea is the most expensive country in the world to raise children from birth to age 18, according to research from Jefferies Financial Group. On the list of 14 countries Jefferies researched, South Korea is followed by China, then Italy. Jefferies’s analysts reported some differences between Asian and Western cultures that might be a factor in South Korea and…
-
Pakistan’s Imran Khan ousted from PM position
Following a parliamentary vote of no confidence last week, Pakistan’s PM Imran Khan has been ousted. The vote came after Pakistan’s opposition parties accused Khan of economic mismanagement, as well as poor governance. The country’s Supreme Court ruled on Thursday that a decision to block the no confidence vote was unconstitutional. Now, Khan claims that opposition to him is backed…
-
Songkran: Academics predict 10 year low in festival spending this year
Thailand academics predict the public’s spending during next week’s Songkran holiday will be the lowest in 10 years. An associate professor at the University of the Thai Chamber of Commerce said he expects people to spend around 106 billion baht altogether across Thailand this year. This will be 5.4% less than last year, when public spending was recorded at about…
-
Thailand inflation jumps 5.7 percent in March, hits consumers’ wallets hard
In March, Thailand’s inflation saw its highest monthly jump in 13 years, rising to 5.73% year on year. That’s according to the Commerce Ministry’s Office of Trade Policy and Strategy, which pins the blame on the war in Ukraine, which has pushed up fuel, food and electricity prices. This unexpected turn of events has caused the office to adjust its…
-
Thailand’s finance ministry closes 2 insurance firms due to Covid-19 claims
After an overwhelming number of Covid-19 claims caused 2 of Thailand’s insurance providers to owe billions of baht in compensation, Thailand’s finance minister has revoked the providers’ business licenses. The decision was made effective yesterday. One provider, Southeast Insurance, owes 13 billion baht in compensation, while the other, Thai Insurance, owes 4.6 billion baht. The Secretary-General of the Office of…
-
Angry protestors try to storm Sri Lanka president’s house following blackout
Following Sri Lanka’s longest power blackout ever recorded, enraged protestors tried to storm the president’s house in Colombo yesterday. Unidentified activists had called for a rally against the president and his family on social media. One resident who lives nearby told AFP he cannot return home because his area is barricaded. The resident said the protestors are “shouting for the…
-
Expected computer shortage in Thailand, world
IT workers expect a shortage of computers for sale in Thailand to start between May and June due to Covid-19 impacting producers in China. The chief of sales and marketing at Advice, an IT distributor, told the Bangkok Post that if China’s lockdown continues, as well as the Russia-Ukraine war, computer prices will likely rise. The chief of Advice said…
-
Diesel no longer for sale across Sri Lanka, massive blackout
Diesel was unavailable for sale at stations across Sri Lanka today. Petrol is on sale but in short supply, forcing drivers to abandon their cars in long queues. Private business owners say they have already run out of fuel, and even skeleton services may not be possible after Friday. Now, the country is grappling with a 13-hour power blackout, its…
-
Upcoming seafood festival at Nai Yang Beach this Friday and Saturday, Phuket
Phuket’s Roi Rim Lay seafood festival will be hosted at Nai Yang Beach this coming weekend on Friday and Saturday. The festival will start at 4pm on Friday, and end at 11pm on Saturday, March 25-26. The festival will host over 100 food stands, live ‘Luk Thung’ Thai folk music, and cooking competitions with chili paste and grilled seafood. The…
-
Phuket governor presents campaign to create 10,000 new minimum-wage jobs
As Phuket struggles to pick up its disheveled tourism economy, provincial Governor Narong has a plan for recovery. In a meeting with local government agencies yesterday, Narong presented his plans on a whiteboard. He said the provincial government will work with local government organisations to create 10,000 vacancies. The vacancies, he said, would pay the minimum wage of 336 baht…
-
Shenzhen now has more billionaires than New York, China has most in world
Shenzhen in China now has more billionaires than New York City. Meanwhile, China has 1,133 listed “billionaires”, more billionaires (measured in USD) than any other country in the world. These 1,133 Shenzhen billionaires make up 34% of the world’s 3,381 billionaires. This is despite the fact China lost 160 of its billionaires in a government crackdown last year. The crackdown…
-
Thailand’s electricity tariff expected to surge higher than ever
After Thailand’s Energy Regulation Commission announced yesterday that the electricity price could rise to four baht per kilowatt hour, the ERC now says it will rise to a record high above that. The ERC says this will be the first time the price has surged this high. The fuel tariff is expected to be 0.24 baht per unit between May…
-
1,000 Thais register to apply for jobs in Saudi Arabia
Thai and Saudi officials say labour relations between their countries are strengthening following renewed relations. Thailand’s labour minister said over 1,000 people have registered online with the Department of Employment to apply for jobs in Saudi Arabia. He claimed the final remaining step is signing a bilateral labour agreement, which is expected to occur soon. The agreement will allow Thailand…
-
Province in Western Thailand works to revive tourism in new scheme
The governor of one Western Thai province whose tourism income plummeted this year announced yesterday the need for a “comprehensive strategy” to revive tourism. The province of Prachuap Khiri Khan made 1.85 billion baht in tourism in 2020, but that dropped to 36 million baht in 2021. “We expect travel activities to pick up once Covid-19 is classified as an…
-
Thailand’s price cap on diesel will last through May
In the midst of skyrocketing fuel prices around the world, Thailand’s diesel price cap at 30 baht per litre will last until the end of May. After that, a loan of 40 billion baht that supports the subsidy allowing the cap is expected to run out. Thailand’s deputy prime minister, who is also the energy minister, said the country must…
-
Federation of Thai Industries wants gov to scrap Test & Go, stop fuel price crisis
The Federation of Thai Industries has called on Thailand’s government to scrap the Test & Go scheme, and stop the ongoing fuel price crisis. On Thursday, the president of the federation suggested easing Test & Go to support tourism and a recovery for the Thai economy. The FTI suggested that Thailand only require fully vaccinated travellers to show proof of…
-
Thai noodle price crisis averted
After some local media outlets reported that noodle prices will rise soon, Thai trade officials claim this isn’t true. The director-general of Thailand’s International Trade Department told the Bangkok Post the department has not yet approved any manufacturers raising their prices. The director-general said the department regularly speaks to instant noodle manufacturers. He said manufacturers who want to raise prices…
-
Prices for instant noodles, condensed milk to rise next month
Prices for instant noodles and condensed milk are set to rise next month as the Ukraine-Russia conflict has affected imports and exports in Thailand, according to the Ministry of Thai Commerce. The ministry says that the situation could cause inflation, but says the state would try to control the price of food and necessary products as much as possible. Commerce…
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.