Thailand s consumer price index (CPI) rose 3.5 per cent in December, compared to the corresponding period in the previous year, Permanent Secretary for Commerce Yanyong Phuangrac…

View original here:
Inflation rises 3.5 per cent in December, year-on-year

More about Thailand business

The government also uses tariff measures as a tool to promote energy policy. To encourage the use of natural gas as an alternative fuel for vehicles, the government has exempted import duties of many natural gas-related tools and equipment such as bio-fuel conversion kits, natural gas containers, and chasses.
Externally, the trade balance in January 2009 recorded a 1,688 million US dollar surplus. Export value contracted for the third consecutive month while import fell even more rapidly. Export value dropped 25.3 percent (yoy) to 10,382 million US dollars. This was due mainly to contraction across the board except for labour-intensive industries which still expanded from gold export. Import value contracted 36.5 percent (yoy) across the board to 8,694 million US dollars. When accounting for the net services, income, and transfers surplus of 601 million US dollars from lower investment income transfer compared to the previous month, the current account balance registered a 2,289 million US dollar surplus.

For the year 2008, the Thai economy decelerated from the previous year, particularly in the last quarter where global economic downturn and internal political unrest adversely affected manufacturing production and tourism. Nonetheless, farm income in Thailand still expanded well from higher major crop production and price compared to the previous year. On the demand side, private consumption and investment declined notably in the last quarter, despite falling inflation during the second half of the year in line with lower oil prices. Both export and import expanded satisfactorily during the first three quarters. However, during the last quarter, export contracted following trading partners’ economic slowdown while import decelerated markedly in line with export and domestic demand conditions.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Can sustainable architecture in emerging markets help lower emissions?

Some emerging markets are taking the lead when it comes to sustainable architecture, often by incorporating traditional designs and materials into construction.

Thailand not among 15 Fastest Growing Countries in Asia

As a result of China, India, and other Asian countries’ growth, Asian real GDP grew on average 4.2% per year from 2017 to 2021 while developed markets on average only grew 1.4% per year in the same time period.