Economics

Thailand's economy grew 1.9% in 2023, lower than expected. 2024 forecast cut to 2.2%-3.2% due to weak exports, geopolitical risks. Possible interest rate cut.

Thailand prepares to legalize same-sex marriage, opening potential for tourism boost, economic growth, and global reputation. Opposition remains.

Prime Minister Thavisin aims to resolve debt problems in 4 years. He divides debtors into 4 groups, has helped 140,000 informal debtors, and plans...

Thai exports showed recovery in Dec 2023, with a 4.7%YOY increase but uncertainty remains. Expecting 3.7% growth in 2024, with potential risks from global supply chain disruptions. Exported USD 22,791.6 million in Dec 2023, with gold exports contributing significantly. Exports to Europe contracted, but imports decreased, resulting in a trade surplus of USD 972.8 million. SCB EIC predicts further export recovery in 2024, driven by improving global trade volume and support from public and private sectors.

Valentine's Day expected to cost more due to inflation, but consumers still plan to celebrate with gifts. Top gifts include roses, clothes, and home-cooked...

January 2024 saw the fourth consecutive month of decreasing inflation, with prices in many categories declining. The Trade Policy and Strategy Office reported the lowest inflation rate in 35 months.

The NACC has not approved the government's digital wallet scheme, expressing concerns about corruption, fiscal discipline, and legal risks, and advising caution and targeting...

Thailand's labor market faces challenges in adapting to the digital revolution, with structural weaknesses and declining productivity and wages. The country can learn from Singapore's focus on workforce skills and lifelong learning. The COVID-19 crisis has affected labor productivity, wages, and work distribution, emphasizing the importance of digital skill development and readiness for the future. Thailand's progress in digital competitiveness is improving but still lags behind in certain areas.