Shippers expect the coronavirus outbreak to have the greatest effect on farm product exports, notably fresh fruits and vegetables, with an impact also seen on imports of raw materials to make certain finished products like automotive tyres and face masks. The Thai National Shippers’ Council estimates the outbreak to hit exports of Thai products bound […]
Read MoreAnalysts downgraded their forecasts for Thailand’s 2020 growth in early February, with the novel coronavirus expected to take a toll on the country’s tourism industry during the first quarter. In a Feb 3 report, Citi economist Nalin Chutchotitham revised her 2020 forecast to 2.2 per cent, down from 3 per cent previously. Her 2019 forecast […]
Read MoreWe now see downside risks to Thailand’s growth outlook in 2020, given the impact from the coronavirus outbreak on the tourism industry and broader economic sentiment. Our core view is Thai economic growth would rebound to 3.0% this year, following an estimated 2.5% expansion in 2019. This was based on an expectation for supportive fiscal […]
Read MoreAn unusual quiet has settled over the production line at Pack and Save, a factory producing plastic bags in Pathum Thani province. Orders have shrunk 90% since the government introduced a campaign to ban single-use plastic bags in department stores and convenience shops early last month, says the company. The factory’s customers include retail giants […]
Read MoreTourists aren’t the only ones staying away from Thailand since the outbreak of the novel coronavirus in Wuhan. Overseas investors are also pulling out. International funds withdrew US$562 million from Thai equities last month, the biggest sell-off in the first month of any year since 2011, according to a data compiled by Bloomberg. More withdrawals […]
Read MoreThailand’s food business is thriving as the number of new restaurants last year almost doubled from 2018, driven by continuous growth in food delivery service and entrepreneurship. Wongnai, Thailand’s leading lifestyle platform, reported yesterday the number of new restaurants tallied 70,149 in 2019, up from 35,613 in 2018. Yod Chinsupakul, chief executive of Wongnai, said […]
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