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14 Dec 2020

Thai Economy

November KR-ECI Bounced Back to Near Pre-COVID-19 Levels, Supported by Government Consumption Stimulus Measures

The KR-ECI improved for the fifth consecutive month in November 2020, standing at 41.0, which was almost on par with the pre-COVID level of 40.6 in January 2020, because households, especially those in the agricultural sector, were more optimistic about employment and income. The improvement was also attributable to higher purchasing power, supported by the government economic stimulus measures. ...Read more

4 Dec 2020

Thai Economy

New Year, 2021: Bangkok Residents to Spend Almost the Same as in 2020 at THB30 Billion, Thanks to Consumption-Boosting Programs (Current Issue No.3164)

A recent poll conducted by KResearch shows that if there were no government consumption-boosting programs, most Bangkok residents would have spent only THB5,300/person on average during the upcoming 2021 New Year holiday season due to concern about the prolonged coronavirus (COVID-19) pandemic abroad and household debt. ...Read more

19 Nov 2020

International Economy

RCEP Set to be Enforced, but Close Attention Must be Paid to the US Stance, which Could Affect Thailand Ahead (Current Issue No.3162)

Presently, Thailand is already a member of the Regional Comprehensive Economic Partnership (RCEP), which is the world’s largest free trade agreement (FTA). This is most welcome news because the RCEP will likely help enhance Thailand’s competitiveness over the short term, although the country’s long-term competitiveness is undermined by the fact that Thailand’s rivals that are also members of the RCEP and other FTAs that Thailand is not a member, in particular the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)....Read more



9 Dec 2020


Air Conditioner Exports: Product Restructuring Needed to Brace for Competition from Key Rival Vietnam and Technological Transition (Current Issue No.3169)

Thai air conditioner exports are set to face numerous challenges ahead. These include competition from new rivals like Vietnam in the inverter air conditioner segment (normal model), plus the fact that consumers in emerging markets have increasingly purchased inverter air conditioners, and this has led to pressure on Thai non-inverter air conditioner shipments. Moreover, there has been a technological transition towards smart inverter air conditioners with internet access in emerging markets. To ease those impacts, Thailand may need to overhaul its air conditioner production and export structures, and build export opportunities for products with promising prospects. ...Read more

4 Dec 2020


Food and beverage exports 2021: Growth projected at 1-5%; adjustment to ‘New Normal’ represents the most urgent issue (Current Issue No.3165)

KResearch projects that the total value of Thai food and beverage exports for 2020 will stand at USD 24.9 billion, equivalent to growth of 3.0 percent YoY as the COVID-19 crisis has driven up demand for food products among Thailand’s trade partners. Moreover, Thai manufacturers have been able to maintain production standards, with livestock (chicken), fruits (fresh/chilled/frozen) and processed food (seafood/vegetables) serving as major drivers of market growth....Read more

23 Nov 2020


Thai exports recovery stumbles in October, contracting further by 6.71 percent YoY; projection for full-year 2020 remains at -7.0 percent (Business Brief No.3898)

Despite indications that the global economy would continue to recover in October 2020, Thai export figures for the month plunged by 6.71 percent YoY to USD 19.37 billion. Regardless, upon exclusion of products related to oil, gold and munitions, exports fell by 4.89 percent YoY, only a slight contraction from September’s reading. All in all, Thai exports over the first 10 months of 2020 shrank by 7.26 percent YoY. Agricultural exports slipped back into contraction at 8.8 percent YoY, after seeing 3.1 percent growth YoY in September – with many agricultural products, particularly granulated sugar, seeing diminished demand. Meanwhile, a majority of industrial exports have improved, especially goods that are related to working from home – for instance, computers and components, and air conditioners, along with personal protective equipment (PPE) against viral transmission, like rubber products. Nonetheless, overall exports still contracted by 4.7 percent YoY....Read more



20 Nov 2020

Financial Institutions

BOT Places emphasis on balancing fund flows in new Baht measures (Business Brief No.3897)

The Thai financial market has substantially been affected by increased volatility and downside risks in the global financial markets since the beginning of 2020. Recently, there was an influx of investment in assets within the emerging markets, including Thailand, following the US Presidential election and encouraging news about COVID-19 vaccines....Read more

6 Nov 2020

Financial Markets

The Baht hit a 9-month high while the SET rose on hopes that Joe Biden will win the US presidential election

The Baht broke the THB31.00/USD level, boosted by stronger Yuan and other Asian currencies. Meanwhile, the US dollar faced sell-offs amid expectations that Democrat Joe Biden would be the winner of the 2020 presidential election. The Baht also gained on hefty net foreign bond buying orders of THB25.86 billion during the week. It hit a 9-month high of THB30.55/USD later in the week while market participants eyed on uncertain signals after the US election, and the political situation in Thailand. ...Read more