Thai business closures rise 8.3% in first four months
The top three sectors with the highest closures are general construction with 372 closures, real estate - 184 closures, and restaurants/eateries - 159 closures.
A miniature housing model is displayed at a house and condo fair held at the Queen Sirikit National Convention Center in Bangkok. (Photo: bangkokpost.com)
Bangkok (VNA) 💮- A total of 3,921 businesses in Thailand ceased operations in the first four months of 2025, an increase of 8.3% compared to the same period last year, according to the country’s Department of Business Development.
The department reported that the total registered capital of closed businesses was 15.99 billion THB (490 million USD).
The top three sectors with the highest closures are general construction with 372 closures, real estate - 184 closures, and restaurants/eateries - 159 closures.
Key factors behind closures include soaring household debts that have reduced consumer spending, a volatile global economy and uncertainty over US trade policies.
Meanwhile, new business registrations totalled 30,148 during the same period, though this reflects a decrease of 1,385 registrations, or 4.4%, from the first four months of 2024.
Kasikorn Research Centre (K-Research) predicted that more Thai factories will close this year than in the past two years, citing a weakening manufacturing sector and ongoing economic challenges./.
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Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
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Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
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The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
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The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
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