Connect with us


Thai economy continued to expand in October

Thai economy for the month of October continued to grow in correspondence with expansion in exports, tourism and spending of the government sector




Thai economy for the month of October continued to grow in correspondence with expansion in exports, tourism and spending of the government sector, said Mr Don Nakornthab, senior director of the Bank of Thailand’s Economic and Policy Department.

Exports expanded 13.4 percent while tourism expanded 20.9 percent for the month of October compared to the same period last year when tourism dropped as a result of the government’s crackdown on the zero-dollar tour, said Mr Don on Thursday (Nov 30), adding that spending of the government sector upped 4.7 percent, excluding overseas money transfers, with investment spending expanding 15.1 percent.

Production of the industrial sector remained stable due to the fact that there were several holidays in October and the fact that it was the month of national mourning over the Royal Cremation of the late King Bhumibol.

Overall industrial production index dropped 0.1 percent with substantial drop in the production of air-conditioners due to cool weather.

In October 2017, the Thai economy continued to expand. Merchandise exports and tourism sectors expanded remarkedly, consistent with the steady improvement in external demand, and low base effect from the same period last year.

Bank of Thailand

Public spending expanded moderately both in current and capital spending. However, manufacturing production remained unchanged due to temporary factors.

While private investment and private consumption grew at a slower pace. On the stability front, inflation and the seasonally-adjusted unemployment rate remained unchanged from the previous month.

The current account posted a surplus as supported by improvements in export value and the tourism sector.

The number of foreign tourists posted a 20.9 percent annual growth, owing to the growth in the number of tourists for almost all nationalities, coupled withthe low base effect of the government’s regulation on illegal tour operators in the same period last year.

After seasonal adjustment, the number of foreign tourists slightly increased by 1.6 percent from the previous month.

Exports Value up 13.4%

The value of merchandise exports continuously expanded in all major export destinations and
most product categories, with a growth of 13.4 percent compared to the same period last year.

Excluding gold, the value of merchandise export expanded by 14.1 percent. The expansion was on the back of continued increase in exports of

(1) automotive and parts, particularly commercial and passenger cars, tires, gears and engines;

(2) electronics and optical appliances, particularly hard disk drives, mobile phones and
integrated circuits;

(3) petroleum-related products, from both price and quantity, especially petroleum and
petrochemical products and (4) agro-manufacturing products, particularly rubber products.


Continue Reading


Productivity is Key to Thailand’s Growth and Prosperity, says World Bank

The Thai economy is projected to pick up moderately to 2.7 percent in 2020 as private consumption recovers and investment picks up due to the implementation of large public infrastructure projects.

World Bank



Thailand’s growth slowed to an estimated 2.5 percent in 2019 from 4.1 percent in 2018, due to external and domestic factors.


Continue Reading


Thailand plans One trillion baht state budget to stimulate economy

Deputy Prime Minister, Dr. Somkid Jatusripitak, said that about 1 trillion baht of the government’s budget will be spent to stimulate the Thai economy.

Boris Sullivan



Thai premier holds meeting on 2020 Budget

BANGKOK (NNT) – The ongoing trade war between the United States and China and a delay in state spending have added uncertainty to the country’s economic outlook.


Continue Reading


Investment promotion requests exceeded 750bn baht in 2019

An impressive 59% was in the Eastern Economic Corridor, with China outreaching Japan to become the biggest international investor in Thailand.

National News Bureau of Thailand



Bangsue railway station

BANGKOK (NNT) – Thailand remained an investment destination for international investors last year, as reflected in the overall value of investment promotion requests in 2019, released by the Board of Investment (BOI) today, which exceed a 750 billion baht goal.


Continue Reading

Most Read

Upcoming Events

Thu 23

12th World Congress on Alzheimers Disease & Dementia

January 23 @ 9:00 am - January 24 @ 5:00 pm BMT
Feb 12

Future Energy Asia

February 12 - February 14
Feb 19

13th World Congress on Nursing and Health Care

February 19 @ 9:00 am - February 20 @ 5:00 pm BMT
Phuket city
Mar 11

Food science conferences

March 11 @ 8:00 am - March 12 @ 5:00 pm BMT
Mar 11

Food science conferences

March 11 @ 9:00 am - March 12 @ 5:00 pm BMT

Press Release

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 12,053 other subscribers