Economic disparity in Thailand widens, agricultural sector hit hardest

[snoop1130]

 

The age-old struggle with economic disparity continues to cast a shadow on Thailand’s society as inequality widens, particularly in the agricultural sector, which sees roughly 6% to 8% of its populace remaining below the poverty line. According to a recent study by the Trade Policy and Strategy Office (TPSO), this disparity has been fuelled by multiple factors, including the move to a digital economy, an ageing society, post-Covid-19 economic recovery speed, and the burning issue of climate change.

 

TPSO’s director-general, Poonpong Naiyanapakorn, acknowledges that while the nation has experienced consistent economic growth, the distribution of that wealth remains a significant issue. The GDP enlarged from 7.7 trillion baht in 2008 to 10.2 trillion baht in 2021, yet economic inequality remained constant. Restating the United Nations’ (UN) sustainable development goals, Poonpong stressed the importance of both public and private sectors working cohesively to mitigate the economic disparity issue, which threatens the stability of Thailand’s societal and economic evolution.

 

Historically, the poverty-stricken population made up 65% in 1988, decreasing to 6.3% in 2021. Even then, the past ten years (2011 to 2021) have shown no significant reduction. Surprisingly, about 11% of households whose main income is from agriculture reside below the poverty line, drawing their line at an income of 2,802 baht per month per person.

 

When juxtaposed with ASEAN neighbours via the Gini coefficient, a concept to measure income inequality, Thailand finds companies in nations like Indonesia and Vietnam. However, wealth distribution is more balanced with a low economic disparity in developed East Asian countries like Japan and South Korea than in Thailand, reported Bangkok Post.

 

The study reveals socio-economic transformations such as the shift to a digital economy, growth of platform-based economies, adoption of labour-replacing technologies, and large-scale data processing to be principal drivers of economic disparity within the country. While these evolutionary steps provide opportunities for those proficient in technology, they concurrently pose challenges for the technologically disadvantaged, thereby adding to economic disparity.

 

By Alex Morgan

Caption: Photo Courtesy of The Foreign Photographer, Flickr

 

Full Story: https://thethaiger.com/news/business/thailands-economic-disparity-widens-agricultural-sector-hit-hardest

 

-- © Copyright Thaiger 2023-06-27

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

[worgeordie]

The Thai farmer  Vs  CP and other big agricultural conglomerates ,,,, says it all,

 

regards worgeordie 

[ikke1959]

In Bavaria they don't care about these people...

[Gecko123]

48 minutes ago, snoop1130 said:

the burning issue of climate change

This one is the biggy. Less predictable rainfall, melting Himalayan glaciers, depleted aquifers, extended droughts, flooding. More and more, farming is becoming a crap shoot. There's no question in my mind that food inflation is going to continue increasing into the foreseeable future.

 

I was in Tops today. I saw some gorgeous bing cherries, large luscious strawberries and mouth watering durian. The packages which were large but in no way huge were all selling at close to 1000 baht per package. The sticker shock was really sobering. It felt like these fruits had truly become luxury items. I could only imagine how someone on a more modest income would have reacted.

 

This may sound like doomsday talk to some, but I'm telling you, due to climate change, people are not going to be eating as well as they have in the past and it's going to be a lot more expensive.

Edited June 27, 2023 by Gecko123

[BangkokReady]

Is it time to just let the industry burn out?  Sell the land and plant trees?  Concentrate on the sectors that are growing rather than on their last legs?

[mikebell]

And just yesterday a huge increased tax revenue was reported.  This will be spent on New Toys for the Boys.

[jacko45k]

16 hours ago, Gecko123 said:

This one is the biggy. Less predictable rainfall, melting Himalayan glaciers, depleted aquifers, extended droughts, flooding. More and more, farming is becoming a crap shoot.

The burgeoning wine production in the UK .....

[Eric Loh]

The North and Northeast provinces had their best economic years under Thaksin and Yingluck's governments. Just 10 years ago, these provinces were emerging alongside its farm as a potent economic fuel in one of Asia's top emrging markets. Then the economy of the North and Northeast were inthe grip of a boom. Economic growth in that region reached 40% from 21007 to 2011 against 23% for the country and just 17% for greater Bangkok. Monthly household income rose the most of any Thai region. The boom was driven by TRT and their predecessor parties. The subsequent establishment/military governments  reversed their policies and investments and reverted back to Bangkok centric spending. The economic disparity has since widened considerably. 

Edited June 28, 2023 by Eric Loh
add word

[mania]

On 6/27/2023 at 12:11 AM, BangkokReady said:

Is it time to just let the industry burn out?  Sell the land and plant trees?  Concentrate on the sectors that are growing rather than on their last legs?

I think In some ways yes & others no

 

Yes change from rice,corn etc to a more varied profitable crops that differ from the masses

 

But no never sell out. There are places in this world that any major problem like wars, or even simple things like shipping strikes & those places are empty shelves at the markets in 5 days

 

One thing Thailand has going for itself is the people won't starve. Food is useful for more than business ????