The baht, which last week spiked up above Bt30 per dollar for the first time since January, will continue to appreciate because of expected higher exports and more foreign direct investment, boosted by the natural disasters in Japan, according to HSBC Global Research.
Tag Archives | Economy
Domestic oil product demand, excluding bitumen and liquefied petroleum gas, rose 3.7% year-on-year in January to 592,754 barrels per day, reflecting expanded business activity and industrial use of energy.
The Bank of Thailand remains confident that economic growth this year would not dip below 3 per cent, despite the surge in oil prices.
The Thai economy is expected to expand by 3.5-4.5% this year, according to the National Economic and Social Development Board (NESDB).
Value-added tax expanded 9.8% from the same period last year, while consumer product imports rose 28.6%, according to the office’s director-general Naris Chaiyasoot.
Thailand’s economy should continue its growth in the first quarter, but high oil prices will soften domestic demand, says the Fiscal Policy Office. Rising political instability in the Middle East and North Africa have forced the FPO to raise its forecast for Dubai crude prices, the benchmark for East Asia, by nearly 10% for the current quarter, said […]
The Thai economy likely posted a contraction of between 3.5% and 4% in the third quarter compared with the year before, according to Ekniti Nitithanprapat, a spokesman for the Finance Ministry. This would be a sharp improvement from the 4.9% year-on-year decline seen in the second quarter and the 7.1% contraction posted in the first quarter.
The government has set an export growth target next year of between 10%and 15%, aiming to increase shipments both to established key markets and new markets. “The government’s trade promotion next year will focus specially on small and medium-sized enterprises, which currently bring the country exports worth up to Bt1.69t a year, or about 28.9% of total exports,” said […]
Thailand is poised to benefit from the new Japanese government’s strategy of forming closer ties with Asian economies, says the Japanese Chamber of Commerce (JCC) but it urges the Thai government to do more to stimulate the local economy. (Bangkok Post)
Prime Minister Abhisit Vejjajiva is optimistic the Thai economy will turn around in the final quarter of this year. In his weekly address on television and radio yesterday, Mr Abhisit said statistics released by the National Economic and Social Development Board show the national economy contracted 4.9% during the second quarter of this year, an improvement from the 7.1%contraction […]