Thailand’s consumer confidence reaches 20-month high in November
Thailand’s consumer confidence rose 47.9 points in November, hitting a 20-month high and marking a rise for six straight months, thanks to improved economic performance, an increasing number of foreign visitors and declined petroleum prices.
Rice for sale at a supermarket in Bangkok, Thailand. (Photo: AFP/VNA)
Bangkok (VNA) 🐼– Thailand’s consumer confidence rose47.9 points in November, hitting a 20-month high and marking a rise for sixstraight months, thanks to improved economic performance, an increasing number of foreignvisitors and declined petroleum prices.
Data released by the University of Thai Chamber of Commerce(UTCC) announced on December 8 showed that Thailand’s consumer index rose 47.9 points inNovember from 46.1 points in October.
UTCC President Thanavath Phonvichai said that Thai consumersfelt the country’s economic recovery as fewer COVID-19 infections are reported,the disease control and prevention measures are loosened, facilitating theresumption of economic activities.
As more foreign tourists arrive in the country, more money iscirculated in the economy and more transactions are done, he said.
ඣ However, Thai consumers are still concerned about high livingcosts, the impacts of the Russia-Ukraine conflict and increasing interest rates bycentral banks across the world in a bid to curb inflation, which could hinderglobal economic recovery.
Despite negative risks, the Thai economy is believed to berecovering with economic growth reaching 3.2-3.3% this year, imports increasing7.1-7.2%, an inflation rate of 6-6.1% and international arrivals of about 10million. UTCC forecasts that next year, the Thai economy may grow by3.5-4%, with exports expanding by 2-3% and international arrivals hitting 20-22million, which will help further improve consumer confidence. According to Thanavath, New Year's events are expected to cost100 billion THB (2.87 billion USD), roughly equal to 120-130 billion THB spentfor such events before the COVID-19 outbreak. He also said that the general election in Thailand takingplace in the second quarter of next year will likely generate at least 40billion THB in spending, contributing 0.4-0.6 percentage points to its 2023economic growth./.
Thailand’s economic outlook remains positive next year despite global headwinds, economists said at the forum “Thailand Insight 2023: Unlocking the Future” taking place on December 7 in Bangkok.
Thailand is on course to overtake Vietnam as the world’s second biggest rice exporter this year, according to the Thai Rice Exporters Association (TREA).
Thailand has set up war rooms staffed by senior officials of the Ministry of Commerce and representatives from private organisations to spur exports, tackle obstacles to trade, and curb the negative impact of a global economic slowdown in 2023.
Thailand held celebrations to welcome foreign visitors at seven airports and two immigration checkpoints on December 10 as it recorded 10 million foreign tourist arrivals for 2022.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
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.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
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.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
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.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
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.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Rice for sale at a supermarket in Bangkok, Thailand. (Photo: AFP/VNA) 
