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rooster59

First quarter economy grows strongly

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First quarter economy grows strongly

 

export.jpg

 

The central bank governor Veerathai Santiprabhob says the country’s economy has recovered strongly in the first quarter, but warned that low-income earners and farmers are still burdened with heavy household debts and need to closely monitor.

 

Mr Veerathai said that the national economy in the first quarter had experienced strong recovery as indicated by healthy growths in the export and tourism sector.

 

However, he said, rural economies are still fragile and will need to be closely monitored.

 

Full story: http://englishnews.thaipbs.or.th/first-quarter-economy-grows-strongly/

 

 
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-- © Copyright Thai PBS 2018-04-29

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51 minutes ago, rooster59 said:

Mr Veerathai said that the national economy in the first quarter had experienced strong recovery as indicated by healthy growths in the export and tourism sector.

 

However, he said, rural economies are still fragile and will need to be closely monitored.

Er... Ahem... Ah...Hmm...

 

Don't something like 60% of Thais work in the rural economy? Or is it a higher number? I think it is a higher number.

 

Somehow I don't think they believe that there is "a strong recovery".

 

However, the election is still a while off, so I guess that they don't matter yet...

 

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2 hours ago, Samui Bodoh said:

Er... Ahem... Ah...Hmm...

 

Don't something like 60% of Thais work in the rural economy? Or is it a higher number? I think it is a higher number.

 

Somehow I don't think they believe that there is "a strong recovery".

 

However, the election is still a while off, so I guess that they don't matter yet...

 

Spot on. The last few years have been terrible to be a small farmer in Thailand. Prices they receive have been very low and many are deep in debt. If there is any improvement in the economy it doesn't seem to have trickled down to the rural areas yet.

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Farming products are not valued

hard working seldom translates to decent income 

the city worker gets a far better deal 

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Ask the ordinary Thai if the economy is growing strongly.

 

GDP figures might be a useful measure for the rich.

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There are of course reasons why much of the rural economy doesn't show up in any statistics and it has nothing to do with some elite conspiracy.

 

I see it in my own family here in Surin: Despite my best efforts over several years they are still only marginally part of the market economy and the reason is because the social & psychological effort to make the transition is simply too hard for people with little or no education and low or zero literacy. They find it too hard to sell their excellent farm produce at market rates to the locals, would prefer to give it away to "poor people" (they are themselves not poor in their own eyes - after all, they have a "rich" falang son/brother). And they can't muster the courage to set up a stall at the local market.

 

One of my BILs is handy with automotive repairs, having worked unqualified in a garage for a while. He fixes vehicles for the locals but regularly fails to get paid. "We pay you next week!" but next week never comes, and he's incapable of demanding payment in advance ...

 

So they work hard from dawn to dusk but they don't show up in anyone's statistics.

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8 hours ago, Samui Bodoh said:

Er... Ahem... Ah...Hmm...

 

Don't something like 60% of Thais work in the rural economy? Or is it a higher number? I think it is a higher number.

 

Somehow I don't think they believe that there is "a strong recovery".

 

However, the election is still a while off, so I guess that they don't matter yet...

 

About 29% of the workforce is employed in agriculture: http://www.nso.go.th/sites/2014en/Lists/NewsUpdate/Attachments/34/summary april.pdf

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9 hours ago, Samui Bodoh said:

Er... Ahem... Ah...Hmm...

 

Don't something like 60% of Thais work in the rural economy? Or is it a higher number? I think it is a higher number.

 

Somehow I don't think they believe that there is "a strong recovery".

 

However, the election is still a while off, so I guess that they don't matter yet...

 

If by "rural economy" you mean "agriculture:"

Employed persons (excludes self employed) in Agriculture from April 2016-April 2017 averaged about 30% of total employment.

http://www.nso.go.th/sites/2014en/Lists/NewsUpdate/Attachments/35/sumary laborMay60Eng (1).pdf

Here is Thailand's 10-year GDP from Agriculture. Obviously, revenues from agriculture are not very stable or reliable contributor to the GDP. The large reversal in revenues 2014-2016 is notable.

https://tradingeconomics.com/thailand/gdp-from-agriculture

HistAG.JPG

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5 hours ago, Anak Nakal said:

Rich get money.

Poor get nothing.

Thailand 2018

Can just remove the "2018".

               Thailand

...always been this way and will always remain so.  

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And the third quarter will show "an unprecedented upsurge"

just in time for the alleged "election".

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