Latest news with #ThaiEconomy
CNA
3 days ago
- Business
- CNA
Thai economy improved in April, outlook still intact, central bank says
BANGKOK :The Thai economy improved in April from March and the outlook remains in line with its downwardly revised forecast for this year with the impact of U.S. tariffs to be seen in the second half, the central bank said on Friday. The manufacturing sector improved after a sharp increase in exports drove inventory restocking, the Bank of Thailand said in a statement, but noted activity data was not yet reflecting the U.S. tariffs, which were announced in early April. "The second quarter started to show some impact, especially on confidence, but it's not clear yet," Assistant Governor Chayawadee Chai-Anant told a press conference. "Things are changing every day. The picture will be clearer in the third and fourth quarters," she added. At the end of April, the Bank of Thailand cut its central-case forecast for growth this year to 2 per cent, and Chayawadee said the outlook for the economy remained close to that. "If we look at the picture now, I must say that the picture may be more in line with the reference scenario that we have given, which is around 2 per cent or maybe better, because Q1 started out quite well and (global) trade negotiations were quite okay," she said. Thailand faces a 36 per cent U.S. tariff if a reduction can't be negotiated before a global moratorium expires in July. The government has submitted a proposal to Washington, but has yet to hold trade talks. Southeast Asia's second-largest economy expanded 2.5 per cent last year, lagging regional peers. While the tourism sector slightly improved in April from March, it remained weaker compared to the same period last year, the central bank said. Exports to the U.S. slowed slightly but remained at a high level, the BOT said. Total exports rose 9.9 per cent in April from a year earlier and imports increased by 17.3 per cent, the BOT said, leading to a trade deficit of $1.4 billion. The current account deficit was $1.5 billion in April.
CNA
3 days ago
- Business
- CNA
Thai economy improved in April on increased manufacturing, central bank says
BANGKOK :The Thai economy improved in April from March, driven by the manufacturing sector after a sharp increase in exports drove inventory replenishment and also helped by a slight rise in tourism, the central bank said in a report on Friday. It was too early to see adverse impacts from the U.S. tariff policy, which was announced in early April, the Bank of Thailand said, noting that private investment continued to expand. And while the tourism sector slightly improved from March, it remained weaker compared to the same period last year. "Although exports to the U.S. slowed slightly, they remained at a high level," the central bank said. Total exports rose 9.9 per cent in April from a year earlier and imports increased by 17.3 per cent, the BOT said, leading to a trade deficit of $1.4 billion.
Reuters
3 days ago
- Business
- Reuters
Thai economy improved in April on increased manufacturing, central bank says
BANGKOK, May 30 (Reuters) - The Thai economy improved in April from March, driven by the manufacturing sector after a sharp increase in exports drove inventory replenishment and also helped by a slight rise in tourism, the central bank said in a report on Friday. It was too early to see adverse impacts from the U.S. tariff policy, which was announced in early April, the Bank of Thailand said, noting that private investment continued to expand. And while the tourism sector slightly improved from March, it remained weaker compared to the same period last year. "Although exports to the U.S. slowed slightly, they remained at a high level," the central bank said. Total exports rose 9.9% in April from a year earlier and imports increased by 17.3%, the BOT said, leading to a trade deficit of $1.4 billion. Thailand recorded a current account deficit of $1.5 billion in April.
Washington Post
09-05-2025
- Business
- Washington Post
An elaborate centuries-old royal ritual in Thailand's capital predicts a good year for farmers
BANGKOK — Thailand's King Maha Vajiralongkorn presided Friday over an elaborate annual ceremony that marks the start of the rice-planting season and honors the nation's farmers. The Royal Ploughing Ceremony is held to read auguries that predict the farming conditions for the year ahead. As is usually the case, good times were predicted, even though Thailand's economy is sluggish.
