Economics
Thailand’s manufacturing production index (MPI) sinks to 12-month low
Both global and domestic economies have been weak, in part due to the trade war, which if prolonged would be manufacturers’ worst-case scenario.
Thailand’s manufacturing production index (MPI) in April fell for the first time this year, dipping to its lowest level in 12 months to 95.91 points because of a sagging global economy and the US-China trade war denting Thai exports.
Both global and domestic economies have been weak, in part due to the trade war, which if prolonged would be manufacturers’ worst-case scenario.
Aditad Vasinonta, deputy director-general of the Office of Industrial Economics (OIE), said the government has cut the country’s industry GDP growth target to 1.5-2.5% this year from an expected target of 2-3%. But the MPI index in April rose by 2.03% year-on-year.
“The OIE revised its MPI index for the first time this year following the global economic slump and economic indicators,” Mr Aditad said. Agency says April MPI reading was lowest in 12 months | Bangkok Post: business
Economics
Thailand’s economic growth expected to return to 2019 levels in mid-2023
Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.
The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.
(more…)Economics
World Bank cuts Thailand’s GDP growth outlook to 1% in 2021
The World Bank has said that Thailand’s economy is forecast to grow 1% this year, down from the 2.2% projected in July, hit by a spike in COVID-19 cases and a delayed reopening to visitors.
The World Bank has said that Thailand’s economy is forecast to grow 1% this year, down from the 2.2% projected in July, hit by a spike in COVID-19 cases and a delayed reopening to visitors.
(more…)
China’s economy stumbles on power crunch
BEIJING (Reuters) – China’s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks...
Quarantine-Free Thailand Reopens for Vaccinated Tourists From 1 November 2021
The Tourism Authority of Thailand (TAT) would like to confirm that Thailand is all set to welcome fully vaccinated foreign...
The ASEAN-India Trade in Goods Agreement
The ASEAN-India Trade in Goods Agreement (the “Agreement”) is a trade deal between the ten member states of ASEAN and...
Bangkok lifts more COVID-19 restrictions
In response to the Royal Thai Government’s announcement to relax more COVID-19 controls in the dark-red zone provinces, which include...
Thailand lifts curfew in ‘Blue Zone’ destinations from 31 October 2021
Bangkok, 22 October, 2021 – The Tourism Authority of Thailand (TAT) would like to provide an update that the night-time...