Economics
Thai exports showed vulnerability in October 2016
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- Pressures stemmed from declining gold exports, both from a high base level in the same period last year and an earlier acceleration during the first half of the year. Also, exports of agricultural products, automotive, electronics and electrical appliances turned negative again.
- Value of imports grew by 6.5%YOY as import of fuel continued to expand following recovering oil prices.
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- EIC expects the value of Thai exports in 2016 to contract by 0.5%YOY. In the remaining two months of the year, export value is expected to expand slightly on the back of higher oil and agricultural prices. Nonetheless, a fragile recovery of trading partners’ economies and other global risks will still weigh on global trade volume.
- EIC expects Thailand’s import value to drop by 6.2%YOY in 2016. Recovering oil prices remain a support factor for import growth as import of fuel-related products is expected to pick up in the remaining of the year.
However, subdued domestic investment this year should continue to put pressures on imports of capital goods, especially with no recovery sign of private investment and delays in the government’s mega-infrastructure projects than previously expected.
Author: Pimnipa Booasang
Economics
Thai fruit exports to FTA markets up 107 percent
China, Malaysia, Singapore, Indonesia, the Philippines, Hong Kong, Australia and Chile are top importers of Thai fruits, especially fresh durian, mangosteen, longan and mango. Thai exporters are able to benefit from FTA privileges.
BANGKOK (NNT) – Thailand’s fruit exports continue to increase, despite the sluggish global economy caused by the COVID-19 pandemic, with key trade partners being countries that have free trade agreements (FTAs) with the kingdom.
Economics
The Future of Asia: greener but with a public and private debt hangover
The COVID-19 pandemic has been a perfect storm, destroying jobs, worsening poverty and inequality, and creating a public and private debt problem—especially for countries and firms already in fragile financial health beforehand
The Sydney Opera resumed live performances and the city of Melbourne recently hosted the Australian Open tennis tournament with fans (mostly) in attendance.
BANGKOK (NNT) – The government’s 50:50 co-pay campaign expiring on 31st March may not be getting an immediate campaign extension. The Minister of Finance says campaign evaluation is needed to improve future campaigns.
The Minister of Finance Arkhom Termpittayapaisith today announced the government may not be able to reach a conclusion on the extension of the 50:50 co-pay campaign in time for the current 31st March campaign end date, as evaluations are needed to better improve the campaign.
Originally introduced last year, the 50:50 campaign is a financial aid campaign for people impacted by the COVID-19 pandemic, in which the government subsidizes up to half the price of purchases at participating stores, with a daily cap on the subsidy amount of 150 baht, and a 3,500 baht per person subsidy limit over the entire campaign.
The campaign has already been extended once, with the current end date set for 31st March.
The Finance Minister said that payout campaigns for the general public are still valid in this period, allowing time for the 50:50 campaign to be assessed, and to address reports of fraud at some participating stores.
The Fiscal Police Office Director General and the Ministry of Finance Spokesperson Kulaya Tantitemit, said today that a bigger quota could be offered in Phase 3 of the 50:50 campaign beyond the 15 million people enrolled in the first two phases, while existing participants will need to confirm their identity if they want to participate in Phase 3, without the need to fill out the registration form.
Mrs Kulaya said the campaign will still be funded by emergency loan credit allocated for pandemic compensation, which still has about 200 billion baht available as of today.
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