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Thai economy to grow 3.6% in 2019

Thai economy this year is now expected to grow at 3.6%, showing minor signs of deceleration due to the global economy

National News Bureau of Thailand

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2019 Thai economy to grow at 3.6%

BANGKOK, 27 April 2019 (NNT) – The overall Thai economic prospects still see continuous growth potential from private investments and tourism, while the establishment of an elected government will help bring back capital to the market, according to Siam Commercial Bank.

Siam Commercial Bank (SCB) Head of Investment Advisory and CIO Sornchai Suneta revealed the Thai economy this year is now expected to grow at 3.6%, showing minor signs of deceleration due to the global economy.

Global economic growth projection down to 3.3%

After the International Monetary Fund has adjusted the global economic growth projection down to 3.3% due to trade issues between economic superpowers, namely China and the U.S., which affects the Thai export sector which has been showing signs of deceleration since Q1 this year.

The main economic driving forces for Thailand this year will be investments from private sector and growing tourism business, while the government’s major investment projects will continue as planned.

The government will also issue short-term economic measures which will help raise the general’s public confidence in spending.

SCB expects the stock exchange to recover to 1,700-1,800 points

Thailand’s stock exchanges are currently being affected from the political situation, which will remain temporary as many investors are seeking clarity on the establishment of an elected government.

SCB expects the stock exchange to recover to 1,700-1,800 points in the latter half this year due to the new government’s economic measures, including short-term stimuli and industrial investments in the Eastern Economic Corridor.

The SCB also expects the Monetary Policy Committee to keep the policy interest rate at 1.75% throughout this year due to decelerating economic performance.

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Business

Ministry of Commerce pushes for exports to offset trade war aftermath

The Board of Trade of Thailand’s Chairman has proposed temporary border trading points be upgraded to permanent ones and more centers for the distribution of SME goods be opened

National News Bureau of Thailand

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BANGKOK, 12th August 2019 (NNT) – The Board of Trade of Thailand is working with the Ministry of Commerce to add value to the wide range of Thai goods for export, in reaction to the trade war between the United States and China.

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Business

Fruit farmers coping with oversupply and price slumps

Thai Government vows to help fruit farmers, following the problem of product oversupply and price slumps, the Ministry of Commerce said.

National News Bureau of Thailand

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BANGKOK, August 2019 (NNT) – To help fruit farmers, following the problem of product oversupply and price slumps, the Ministry of Commerce has recently used Section 44, of the interim constitution, to engage government and private agencies in assisting them in terms of marketing to help sell the produce, including mangosteens, Lansium demesticum, rambutans, longans and other seasonal fruit.

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Business

Thailand’s Drought disaster estimated 10bn baht ($326M)

The overall damage is expected to escalate to 37 billion baht should the drought extends to September, as the wet season rice cultivation cycle would be affected; that would lower expected Thai economic growth to 2.9 percent from 3 percent.

National News Bureau of Thailand

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BANGKOK, 3rd August 2019 (NNT) – The latest estimate from the University of Thai Chambers of Commerce (UTCC) shows the drought disaster this year has affected some 1,330 square kilometers of farmland, most of which is rice farms, with initial damage estimated at about 10 billion baht.

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