Thailand’s economy showed signs of improvement in October, driven by tourism, exports, and private consumption, which were bolstered by the government's economic stimulus measures, according to the Bank of Thailand on Friday.
Exports, a key economic driver, rose by 14.2% in October compared to the previous year, while imports increased by 17.1%, resulting in a trade surplus of $1.4 billion, the Bank of Thailand (BOT) reported.
Industrial production grew in line with both domestic demand and exports, excluding automobiles, the BOT stated. The current account surplus stood at $0.7 billion in October, slightly higher than the $0.6 billion surplus in September.
Private consumption saw a 0.8% increase in October from the previous month, while private investment rose by 4.5%, according to the central bank. Government spending also surged.
Tourism, another major contributor to the economy, supported the service sectors, though structural challenges continued to affect business and household income for certain groups, the BOT said. In a surprise move at its October 16 review, the BOT cut its policy interest rate by 25 basis points to 2.25%. It also raised its 2024 GDP growth forecast to 2.7% from 2.6%, but reduced its 2025 growth forecast to 2.9% from 3.0%.
The economy grew by 3% in the July-September quarter, marking the fastest pace in two years, but officials and analysts highlighted increasing challenges to sustaining this momentum into the next year.
On the 20th anniversary of the 2004 Indian Ocean tsunami, survivors and families across Southeast and South Asia gathered to honour the 230,000 victims. Memorials were held in Indonesia, Sri Lanka, India, and Thailand, where emotional tributes and prayers were offered.
A car crashed into a school gate in Nakhon Ratchasima, Thailand, killing two people and injuring at least 10 others, including children, parents, and a food vendor. The driver, a 75-year-old man, was found to be heavily intoxicated at the time of the incident.
Two rare golden tigers have become the stars of the Chiang Mai Night Safari, captivating visitors with their striking appearance and playful performances. The duo, known for their kitten-like features, have drawn large crowds, boosting ticket sales and becoming a social media sensation.
Severe floods in southern Thailand and northern Malaysia have claimed at least 12 lives and displaced tens of thousands, with heavy rain and flash floods continuing to wreak havoc, authorities warn.
Thailand’s Constitutional Court has rejected a bid to bar former PM Thaksin Shinawatra from influencing the ruling Pheu Thai party. Thaksin, father of PM Paetongtarn Shinawatra, denies any involvement since returning in 2023 after 15 years of self-imposed exile.
A Cessna CJ1+ aircraft (PR-GFS) crashed while landing at Gastão Madeira State Airport (UBT) in Ubatuba, Brazil, on 9 January 2025, amidst adverse weather. The crash, which claimed the pilot’s life and injured seven others, has raised concerns over private aviation safety in Brazil.
Pope Francis calls on wealthy nations at COP29 to address "ecological debt" by forgiving poor countries' debts, fostering justice and solidarity in climate action.
Iran's Islamic Revolution Guards Corps (IRGC) has showcased advanced military capabilities during its “Great Prophet 19” drills, unveiling a new loitering munition, the "Rezvan" drone, and the “358 missile defence system” designed to protect strategic facilities like the Natanz nuclear plant.
Highland Park resident Sabrina gives a firsthand account of fleeing the devastating Southern California wildfires, as fierce 80 mph winds drive the Eaton Fire toward residential areas. In an exclusive interview, Sabrina details her experience joining the other 130,000 displaced citizens.
Highland Park resident Sabrina gives a firsthand account of fleeing the devastating Southern California wildfires, as fierce 80 mph winds drive the Eaton Fire toward residential areas. In an exclusive interview, Sabrina details her experience joining the other 130,000 displaced citizens.
A Cessna CJ1+ aircraft (PR-GFS) crashed while landing at Gastão Madeira State Airport (UBT) in Ubatuba, Brazil, on 9 January 2025, amidst adverse weather. The crash, which claimed the pilot’s life and injured seven others, has raised concerns over private aviation safety in Brazil.
Azerbaijan's Foreign Ministry is working with Eritrean authorities to secure the release of 18 Azerbaijani citizens detained after their vessels entered Eritrean waters on November 7, 2024, due to severe weather. The crew faces charges of unauthorized entry.
Samsung Electronics, the global leader in memory chips, smartphones, and televisions, has released its fourth-quarter operating profit estimate, revealing a significant shortfall compared to analyst expectations. The South Korean tech giant reported an estimated operating profit of 6.5 trillion won.
Electric vehicle manufacturer BYD is under investigation in Brazil after hundreds of Chinese workers were brought into the country on irregular visas to work on a factory construction in Bahia, with many found in "slavery-like conditions," according to labor authorities, Reuters reports.
Philips has sold its chipmaking subsidiary, Xiver, to a consortium led by Orange Mills Ventures, marking another step in the company’s shift away from semiconductor operations, Dutch newspaper De Telegraaf reported.
A coalition of self-driving car companies is urging the U.S. government to accelerate efforts to deploy autonomous vehicles, citing regulatory delays and growing international competition.
Nvidia unveils AI breakthroughs at CES 2025, introducing Cosmos models for training robots and cars, advanced gaming chips, and new automotive tech with Toyota, targeting $5B revenue by 2026.
A Cessna CJ1+ aircraft (PR-GFS) crashed while landing at Gastão Madeira State Airport (UBT) in Ubatuba, Brazil, on 9 January 2025, amidst adverse weather. The crash, which claimed the pilot’s life and injured seven others, has raised concerns over private aviation safety in Brazil.
Pope Francis calls on wealthy nations at COP29 to address "ecological debt" by forgiving poor countries' debts, fostering justice and solidarity in climate action.
Iran's Islamic Revolution Guards Corps (IRGC) has showcased advanced military capabilities during its “Great Prophet 19” drills, unveiling a new loitering munition, the "Rezvan" drone, and the “358 missile defence system” designed to protect strategic facilities like the Natanz nuclear plant.
Highland Park resident Sabrina gives a firsthand account of fleeing the devastating Southern California wildfires, as fierce 80 mph winds drive the Eaton Fire toward residential areas. In an exclusive interview, Sabrina details her experience joining the other 130,000 displaced citizens.
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