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Thailand’s trade deficit for June amounts to 40 billion baht as currency weakens

14 Sept 00:55 Key points summarised by AI

Thailand experienced a trade deficit exceeding 40 billion baht in June, primarily driven by a 19% increase in imports, especially energy, coupled with a 10% rise in exports and a weakening Thai baht.
The Thai baht is projected to remain volatile and may weaken further against the US dollar; however, a significant drop past 37 baht/US dollar is not expected if China avoids widespread COVID-19 lockdowns.
Short-term profit-taking by foreign investors in the stock market and speculators anticipating a stronger tourism recovery could help slow the baht's depreciation.
Businesses are advised to employ financial tools, such as options, to mitigate risks associated with foreign currency fluctuations and enhance efficiency.

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.