Thailand’s customs-cleared export value continued to expand for a 17th consecutive month in July, but the growth rate slowed to 4.3% yoy after robust gains of 11.9% in June, 10.5% in May, 9.9% in April and 19.5% in Mar, which was the highest level since records began in 1991.
Fallout from an ‘economic war’: Thailand cannot avoid an impact from the tussle between Europe and the US against Russia over the latter’s invasion of Ukraine, with a European slowdown projected to hurt exports. Thailand’s customs-cleared export value continued to expand for a 17th consecutive month in July, but the growth rate slowed to 4.3% year-on-year after robust gains of 11.9% in June, 10.5% in May, 9.9% in April and 19.5% in March, which was the highest level since records began in 1991. Bangkok Post
Offo eyes new diesel cap: Large price dips are not expected as the Oil Fuel Fund needs to raise money. The Oil Fuel Fund Office (Offo) is considering putting a new cap on the domestic diesel price via its subsidy scheme next week, following the recent decline of diesel reference prices in Singapore. Bangkok Post
Rice exports poised to top 8m tonnes: Iraq returns as a major buyer. Thailand’s rice exports are likely to exceed 8 million tonnes this year, driven by the resumption of purchases by Iraq and India’s restrictions on rice shipments. Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association, said rice shipments will benefit if India maintains it ban on exports of broken rice and 20% duty on exports of various other types until the end of this year. Bangkok Post
EC plans to hold general election on May 7, 2023: The Election Commission (EC) plans to hold the next general election on May 7 next year, assuming the House of Representatives completes its fouryear term by March, according to an informed source. Bangkok Post
Thai digital content set to hit B62.4bn: Gaming sector seen as key growth driver. The value of Thailand’s digital content industry is expected to reach 62.4 billion baht by 2024, up from 42 billion baht last year, driven by strong growth in the gaming sector and the recovery of the animation industry, says the Digital Economy Promotion Agency (Depa). Bangkok Post
Tourism Ministry’s revised down its tourism revenue target to Bt1.08trnl from Bt1.2trnl, the 3rd revision, due to weaker purchasing power, while keeping overall inbounds target at 10m this year.
Energy Policy and Planning Office (EPPO) is expected to approve emergency plan for energy shortage in October, aims to suspend LNG import from October-November, shift energy sources to diesel, coal, renewable and gas from Malaysia TH joint development area (MTJDA) & local fields.
The FTI will launch a clean energy and carbon credit trading platform and sign an agreement with government to be Thailand’s carbon credit trading center today.
FTI reopened Aug EV registration at 1,184 units, +438.2% yoy (+220 units), YTD BEV at 22,374 units, +146.9% yoy, plug-in at 239,110 units, +27.88% yoy.