Sign up | Log in



Home  >>  Daily News  >>   Thailand News   >>  Economy  >>  Thailand hopes to offset export drop with rise in consumer spending

14 June 2009

Thailand hopes to offset export drop with rise in consumer spending

Related Stories
June 10, 2009
Thai central bank keeps close watch on recovery signs

June 8, 2009
Thailand seeks $22 billion to prop up economy

June 6, 2009
IMF reports show growth contrasts of Thailand and Indonesia

June 5, 2009
Thai finance minister upbeat over economy

May 26, 2009
Thailand economy seen hitting bottom

Thailand’s consumer spending has room to improve, helping offset a collapse in exports that has put the economy into a recession, Bloomberg News quoted Bank of Thailand Deputy Governor Bandid Nijathaworn as saying.

“The potential for consumers to spend more is there,” Bandid, 55, said in an interview in Bangkok Friday. Domestic spending will help make the economy “more resilient,” he said.

Prime Minister Abhisit Vejjajiva earlier said the worst of Thailand’s recession has passed. The government in April began pumping cash into the economy, which contracted 7.1 percent in the first quarter, giving handouts to the nation’s poorest. Exports, the nation’s main economic driver, have shrunk every month since November.

Household savings, limited debt and low interest rates will help fuel consumption, said Bandid, a 17-year veteran at Thailand’s central bank. “But restructuring exports to consumption isn’t going to be an overnight thing.”

Exports, equivalent to about 70 percent of gross domestic product, tumbled 16.4 percent in the first quarter, prompting companies including General Motors and Seagate Technology Inc to cut production and fire workers. Household spending, worth about 26 percent of the economy, shrank 2.6 percent.


Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below 





1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand