Thailands car industry is really streuggling at the moment.
The following Khaosod English report highlights the issues for current production in Thailand, as well as EV imports from China not selling - and where to store them.
This quote sums it up nicely:
"Don’t be alarmed by the current situation. We have to wait and see what happens in the second half of the year. Right now, it’s only a 25% reduction. However, if this continues, it could be dangerous...."
https://www.khaosodenglish.com/featured ... hai-ports/
Major Economic Issues For Thailand
Re: Major Economic Issues For Thailand
Talk is cheap
Re: Major Economic Issues For Thailand
It'll be OK. Sretta's (or is it Thaksin's?) digital wallet will fix the economy.caller wrote:Thailands car industry is really streuggling at the moment.
The following Khaosod English report highlights the issues for current production in Thailand, as well as EV imports from China not selling - and where to store them.
This quote sums it up nicely:
"Don’t be alarmed by the current situation. We have to wait and see what happens in the second half of the year. Right now, it’s only a 25% reduction. However, if this continues, it could be dangerous...."
https://www.khaosodenglish.com/featured ... hai-ports/
Re: Major Economic Issues For Thailand
Thai economy not good, with growth worsening: Finance Minister Pichai
Thailand's economy has not been good for a long time, with growth deteriorating as it faces structural problems, Finance Minister Pichai Chunhavajira said on Wednesday.
The government was working to lift economic growth to 3% this year from current projections of about 2.5%, Mr Pichai told a business seminar, adding growth was low compared with rates of close to 6% in the past.
Southeast Asia's second-largest economy expanded 1.9% last year, lagging regional peers, as it faced weak exports and high household debt and borrowing costs. Average economic growth was 1.73% over the past decade.
https://www.bangkokpost.com/business/ge ... -worsening
Thailand's economy has not been good for a long time, with growth deteriorating as it faces structural problems, Finance Minister Pichai Chunhavajira said on Wednesday.
The government was working to lift economic growth to 3% this year from current projections of about 2.5%, Mr Pichai told a business seminar, adding growth was low compared with rates of close to 6% in the past.
Southeast Asia's second-largest economy expanded 1.9% last year, lagging regional peers, as it faced weak exports and high household debt and borrowing costs. Average economic growth was 1.73% over the past decade.
https://www.bangkokpost.com/business/ge ... -worsening
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: Major Economic Issues For Thailand
Interesting article on Thailand's demographic problems which are related to economic growth ... The author reckons it can be solved with migrant workers.
Some Reasons Not to Panic About a Thai Demographic Collapse
Thailand’s working-age population could decline from around 50 million people in 2020 to 38 million in 2050, so by around 400,000 people each year (or also by around a fifth). At the same time, those over 60 will account for around 40 percent of the population by then (up from nearly 20 percent in 2020).
Already, there are almost twice as many over-65s as under-14s. By 2050, there will be just 7.8 million children versus 21 million retirees and less than two workers paying their taxes and growing the economy for every retiree who saps state money.
Thailand is joining the ranks of the super-aging Asian states without some of the advantages of those countries.
...
None of this is to say that Bangkok cannot screw it up. The government could do with scrapping its ludicrous $14 billion cash handout scheme and allocating that money to wannabe mothers and soon-to-be retirees. It needs to roll out the red carpet for migrant workers, Filipinos especially. It must continue improving productivity through education and re-skilling since it won’t compete on scale with near neighbors. It also needs political stability, so not a military coup every decade.
https://thediplomat.com/2024/07/some-re ... -collapse/
Some Reasons Not to Panic About a Thai Demographic Collapse
Thailand’s working-age population could decline from around 50 million people in 2020 to 38 million in 2050, so by around 400,000 people each year (or also by around a fifth). At the same time, those over 60 will account for around 40 percent of the population by then (up from nearly 20 percent in 2020).
Already, there are almost twice as many over-65s as under-14s. By 2050, there will be just 7.8 million children versus 21 million retirees and less than two workers paying their taxes and growing the economy for every retiree who saps state money.
Thailand is joining the ranks of the super-aging Asian states without some of the advantages of those countries.
...
None of this is to say that Bangkok cannot screw it up. The government could do with scrapping its ludicrous $14 billion cash handout scheme and allocating that money to wannabe mothers and soon-to-be retirees. It needs to roll out the red carpet for migrant workers, Filipinos especially. It must continue improving productivity through education and re-skilling since it won’t compete on scale with near neighbors. It also needs political stability, so not a military coup every decade.
https://thediplomat.com/2024/07/some-re ... -collapse/
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: Major Economic Issues For Thailand
Back to the doom and gloom ...
In 2023 Thailand saw one of the worst drops in FDI in the world
Foreign Direct Investment (FDI), a key barometer for economic growth for developing countries, has seen a decline of about 2% in 2023, with Thailand’s share of FDI inflow declining among the highest in the world, according to latest data release by United Nations Conference on Trade & Development (UNCTAD), with ASEAN continuing to remain in the positive trajectory witnessing a 1.2% uptick in its FDI to US$ 226.3 billion.
https://www.thaienquirer.com/52680/unct ... d-in-2023/
Meanwhile ... NPLs for pickup trucks rise sharply
The National Credit Bureau (NCB) reported a 39% increase in bad debt for pickup truck loans in May.
https://www.bangkokpost.com/business/mo ... se-sharply
In 2023 Thailand saw one of the worst drops in FDI in the world
Foreign Direct Investment (FDI), a key barometer for economic growth for developing countries, has seen a decline of about 2% in 2023, with Thailand’s share of FDI inflow declining among the highest in the world, according to latest data release by United Nations Conference on Trade & Development (UNCTAD), with ASEAN continuing to remain in the positive trajectory witnessing a 1.2% uptick in its FDI to US$ 226.3 billion.
https://www.thaienquirer.com/52680/unct ... d-in-2023/
Meanwhile ... NPLs for pickup trucks rise sharply
The National Credit Bureau (NCB) reported a 39% increase in bad debt for pickup truck loans in May.
https://www.bangkokpost.com/business/mo ... se-sharply
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: Major Economic Issues For Thailand
Another solid piece from The Diplomat on the demise of Thailand's economy and the rise of its neighbours.
Tension and Teamwork: The Dual Dynamics of Thailand-Vietnam Relations
Recent Thai-language articles on the state of Thailand’s economy tend to do one or both of the following things. First, they reference the “boiled frog syndrome” to illustrate that, just as a frog in gradually warming water fails to detect the rising heat and is eventually cooked alive, Thais may not notice incremental changes – such as declining purchasing power among the middle and lower classes and the shutdown of small and medium-sized businesses due to high operating costs – until it’s too late. Second, they portray Vietnam as a peer or step-ahead competitor of Thailand.
https://thediplomat.com/2024/08/tension ... relations/
Tension and Teamwork: The Dual Dynamics of Thailand-Vietnam Relations
Recent Thai-language articles on the state of Thailand’s economy tend to do one or both of the following things. First, they reference the “boiled frog syndrome” to illustrate that, just as a frog in gradually warming water fails to detect the rising heat and is eventually cooked alive, Thais may not notice incremental changes – such as declining purchasing power among the middle and lower classes and the shutdown of small and medium-sized businesses due to high operating costs – until it’s too late. Second, they portray Vietnam as a peer or step-ahead competitor of Thailand.
https://thediplomat.com/2024/08/tension ... relations/
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: Major Economic Issues For Thailand
Okay. So why is the thai baht strengthening day by day?
Down on the US dollar and more importantly for me, the gbp. That's gone from 47 to 45! similarly for the dollar.
Down on the US dollar and more importantly for me, the gbp. That's gone from 47 to 45! similarly for the dollar.
Re: Major Economic Issues For Thailand
I suspect a few things have happened. About a week and half ago,the pound was on 46.99 and on an upward trajectory and then it went into reverse. My initial gut feeling was that the baht was being propped up by the Thai Govt, but then interest rates in the UK dropped by 0.25%, the new UK Govt slapped on a tax of above 70% on North sea oil and gases, meaning a sell off took place and putting 100k+ jobs at risk, then the US revealed some poor job market figures, all of which seemed to have had an impact.
Talk is cheap
Re: Major Economic Issues For Thailand
Consumer confidence falls to 11-month low
Thai consumer confidence dropped for a fifth consecutive month in July to its lowest level since August last year due to concerns over a slow economic recovery, the rising cost of living and political uncertainty, a survey showed on Tuesday.
The consumer index of the University of the Thai Chamber of Commerce (UTCC) fell to 57.7 in July from 58.9 in the previous month, the university said in a statement.
Consumers were worried about future political instability and about the economy, which was still recovering slowly because there were no clear stimulus measures yet, it said.
https://www.bangkokpost.com/business/ge ... ow-in-july
Thai consumer confidence dropped for a fifth consecutive month in July to its lowest level since August last year due to concerns over a slow economic recovery, the rising cost of living and political uncertainty, a survey showed on Tuesday.
The consumer index of the University of the Thai Chamber of Commerce (UTCC) fell to 57.7 in July from 58.9 in the previous month, the university said in a statement.
Consumers were worried about future political instability and about the economy, which was still recovering slowly because there were no clear stimulus measures yet, it said.
https://www.bangkokpost.com/business/ge ... ow-in-july
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: Major Economic Issues For Thailand
Thai economy 'nearly in crisis'
Thailand's economy is nearly in crisis due to declining exports and uncompetitive manufacturing, caretaker Finance Minister Pichai Chunhavajira said on Wednesday.
Exports accounts for 70% of the economy but the manufacturing sector cannot meet market demand, Mr Pichai told a business seminar.
"We can't compete. We can't adapt in time," he said.
Southeast Asia's second-largest economy grew 2.3% in the April-June quarter from a year earlier, accelerating from the 1.6% growth in the prior quarter.
But quarter-on-quarter growth slowed to 0.8% in the second quarter from the 1.2% expansion in the previous three months.
https://www.bangkokpost.com/business/ge ... ajira-says
Thailand's economy is nearly in crisis due to declining exports and uncompetitive manufacturing, caretaker Finance Minister Pichai Chunhavajira said on Wednesday.
Exports accounts for 70% of the economy but the manufacturing sector cannot meet market demand, Mr Pichai told a business seminar.
"We can't compete. We can't adapt in time," he said.
Southeast Asia's second-largest economy grew 2.3% in the April-June quarter from a year earlier, accelerating from the 1.6% growth in the prior quarter.
But quarter-on-quarter growth slowed to 0.8% in the second quarter from the 1.2% expansion in the previous three months.
https://www.bangkokpost.com/business/ge ... ajira-says
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: Major Economic Issues For Thailand
Just the environment where a continually strengthening Baht is going to do more damage than good.
Championship Bristol City 4 - 0 Plymouth Argyle 
Points 17; Position 21
Points 17; Position 21
Re: Major Economic Issues For Thailand
I don't think it strengthens as much as other currencies (USD, GBP, EUR) weaken ... which THB doesn't tend to do much regardless of what happens to the (teflon) country.
But yes, a strong baht hurts exports and tourism to a lesser extent - look at Japan, where tourism has skyrocketed due to the weak Yen.
But yes, a strong baht hurts exports and tourism to a lesser extent - look at Japan, where tourism has skyrocketed due to the weak Yen.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: Major Economic Issues For Thailand
Chulalongkorn University Honours Thailand’s Most Powerful Brands
https://www.bangkokpost.com/thailand/pr ... ful-brands
Detailed article best read at link, Remember that the below chart and study is based upon a Thai population and what they find good and useful, and can afford.
Asst. Prof. Dr. Ake Pattaratanakun, Head of the Department of Marketing, noted that the brand strength ranking is part of ongoing research conducted by the department every two years. This year marks the 7th edition. In addition to announcing the strongest brands in 29 product categories, the research team analysed key factors contributing to brand strength, offering insights for developing branding strategies that align with market changes.......
https://www.bangkokpost.com/thailand/pr ... ful-brands
Detailed article best read at link, Remember that the below chart and study is based upon a Thai population and what they find good and useful, and can afford.
Asst. Prof. Dr. Ake Pattaratanakun, Head of the Department of Marketing, noted that the brand strength ranking is part of ongoing research conducted by the department every two years. This year marks the 7th edition. In addition to announcing the strongest brands in 29 product categories, the research team analysed key factors contributing to brand strength, offering insights for developing branding strategies that align with market changes.......
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Re: Major Economic Issues For Thailand
Where’s 7-eleven?
Re: Major Economic Issues For Thailand
Exactly, gotta wonder how accurate this "research" is. Thais are also addicted to TikTok, Shopee, KFC, Food Panda, True, etc.
DIfferent results here: https://www.campaignasia.com/article/th ... nds/496314
Also, gotta wonder how many of these brands are controlled by conglomerates/monopolies.
DIfferent results here: https://www.campaignasia.com/article/th ... nds/496314
Also, gotta wonder how many of these brands are controlled by conglomerates/monopolies.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson