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Economy to Improve Further On Consumption and Tourism


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by Natthaphon Sangpolsit

    

BANGKOK (NNT) - Thailand’s economy improved in June and the momentum is expected to continue into the second half of 2022 thanks to increased tourism and domestic consumption as pandemic curbs ease.

 

While the revitalized tourism sector has been a positive boost to the economy, Bank of Thailand (BOT) Senior Director Chayawadee Chai-Anant said officials are monitoring inflation, disease outbreaks and global economic issues.

 

She said Southeast Asia’s second-largest economy improved in the second quarter from the previous quarter, with annual growth expected at 3% or slightly higher.

 

Official second-quarter gross domestic product will be released by the state planning agency on August 15. In the first quarter, annual GDP growth was 2.2%.

 

Chayawadee noted that the Thai baht and regional currencies are still on a weakening trend due to dollar strength.

 

However, she said the baht depreciated more than its peers in July on concerns that China’s economy might recover slower than expected and that would affect Thailand.

 

In June, the economy improved from the previous month. Exports rose 11.1% from a year while imports jumped 24.3%, resulting in a trade surplus in dollar terms of US$2.1 billion in the month.

 

Meanwhile, the country recorded a current account deficit of $1.9 billion in June, down from a deficit of $3.7 billion in the previous month.

 

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-- © Copyright NNT 2022-08-01
 

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De-Globilization is going to hit Thailand like a ton of bricks. Absolutely nothing they can do about it. They are in a better position than some, but that is not saying much.  You are going to loose China, manufacturing is going back to the US. Japan will still be around to suck your young workers up to do their biding when it is convenient. 

All the scams  they they are trying to push out are laughable IMO. 5-10 years Thailand will be back to analog technology. Looking at a failed China and wondering what happened. 

 

Edited by Gknrd
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32 minutes ago, Gknrd said:

De-Globilization is going

De globalization is a myth. Yes, some reshuffling is going on now as the World has realized the danger of concentrated supply chain in one country. China's 18 trillion behemoth is not going anywhere.  

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1 hour ago, Gknrd said:

You are going to loose China

If China not going to sell it's products to the world, who than are they going to sell it too? trade among themselves? and where are they going to get the martials that are so important to their everyday existence if the don't trade with the world...

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lets keep consuming as much as we can and using all the finite resources on this planet. 

 

new normal eh

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35 minutes ago, stoner said:

lets keep consuming as much as we can and using all the finite resources on this planet. 

 

new normal eh

I don't think it is a new normal.

It's been happening for centuries.

How all this is now reported has changed.

Once upon a time we would buy one daily paper and perhaps watch the 6:00 pm news. Some news was a day+ old.

Now a million sources of mostly instant opinions, not facts.

Everyone, try not to read too much blah blah.

 

 

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Hard to wrap your head around I know.. But De Globalization is coming ... Another disturbing thing is food. Not sure if Thailand will have a big problem.  But , since China has outlawed fertilizer sales, and the Ukraine war???  The countries that cannot feed themselves without fertilizer will be in for a world of hurt. China is one of those countries. That is why they stoped exporting fertilizer. 

This is a problem we will know if and how it will affect the world very soon.

From what I am reading it will take years to replace China fertilizer exports. Poor countries and others will be facing famin. We are talking mass starvation..

 

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3 hours ago, Gknrd said:

From what I am reading it will take years to replace China fertilizer exports. Poor countries and others will be facing famin. We are talking mass starvation..

I get comments from UK that the next winter will be 'eat or heat!' (No money for both). Worrying times coming.....

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How is it that all the world's ills are conveniently [and fancifully] placed upon the ever popular and invented boogiemen.....all the while, the truer and reflective evil cannot be recognized?

 

Best be aware that a growing [very real] and influential alliance is being formed as we speak to counter the weakened hegemony of the old providence. 

 

Stay tuned.

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Funny, in other countries, reportedly,  consumption has decreased in recent months. Is the government planning on 'helicopter money' to foster such consumption improvement?

Edited by StayinThailand2much
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