Thailand’s exports drop for 7 straight months, 5.5% year-on-year

17 Sept 11:08 Key points summarised by AI

Thailand's exports plummeted 5.5% year-on-year over the first seven months, totaling US$163.3 billion and resulting in an US$8.2 billion trade deficit.
Exports in July alone saw a 6.2% year-on-year decline, contributing to a US$1.97 billion trade deficit for the month.
The Commerce Ministry attributes the export contraction to global policy interest rate hikes, tighter credit, and China's sluggish economic recovery impacting purchasing power.
Despite a three-month fall in farm and agro-industrial exports, specific food items like rice and certain industrial products such as locally-assembled cars and solar cells show increasing demand.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

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.