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Economics

December industrial exports post first expansion in 12 months

Thailand’s export sector posted first expansion in 12 months, excluding gold, at 6.68 percent in December 2020.

National News Bureau of Thailand

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BANGKOK (NNT) – Improving world economic conditions and continued government stimuli have brought about the first expansion of Thailand’s export sector, excluding gold, in 12 months at 6.68 percent in December 2020, while the Manufacturing Production Index (MPI) fell year-on-year by 2.44 percent.

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Director of the Office of Industrial Economics (OIE) Thongchai Chawalitpichet pointed out that Thailand’s effective control of COVID-19, both among the public and business sectors, helped to reduce the disease’s impact on the industrial economy with demand for products relevant to the virus, such as medical electronics, rubber gloves, pharmaceuticals and food, growing.

The director remarked that confidence would be a major deciding factor moving forward, highlighting the first shipment of COVID-19 vaccines in February and global vaccination efforts as two developments that could spur production and consumption.

He added that government stimulus programs, such as the co-pay scheme and Shop Dee Mee Kuen as well as Rao Chana, will be important in fueling consumption and SME activity to prop up the economy.

Economics

Sluggish vaccine campaign threatens Thailand’s economic recovery

The latest baseline scenario issued by the bank of Thailand predicts a GDP growth of 2%, assuming that vaccine procurement and distribution reaches 100 million doses this year and leads to herd immunity in the first quarter of 2022.

Olivier Languepin

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The Bank of Thailand (BoT) slashed again Thailand’s economic growth forecast for 2021 for the second time this year targeting a mere 1 to 2% growth, depending mainly on the procurement and distribution of Covid-19 vaccines.

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Economics

Thailand’s Consumer Confidence Drops to Record Low in April

The University of the Thai Chamber of Commerce (UTTC) estimated an economic loss of 400-600 billion baht if the outbreak continues beyond this month

National News Bureau of Thailand and Headline Editor

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BANGKOK (NNT) – The University of the Thai Chamber of Commerce (UTTC) said consumer confidence hit a record low in April, dropping to 46.0 from 48.5 in March, dented by a new wave of COVID-19 infections.

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Investment

Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI

The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.

Pr News and BOI

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The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.

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