Business Daily Thailand: An economy on hold?
Jun 15, 2025
Danakorn Kassetsran, Chairman of Thailand's National Shippers Council, shares his expertise on Thailand’s economy, a vital player in Southeast Asia’s export market. He discusses the significant challenges stemming from the COVID-19 pandemic and the impact of U.S. tariffs. With trade relations in limbo, Danakorn highlights the delicate balance Thailand must maintain between its superpower partners, China and the U.S. He also delves into the stark economic contrasts within the country, showcasing the struggles of rural citizens amid a thriving agricultural sector.
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Daily Struggles in Rural Thailand
- Ball, a construction company driver, struggles with inconsistent daily work and low wages.
- When out of money, people resort to informal loans or borrowing rice from neighbors.
COVID and Tariff Impact on Exports
- Thailand's economy, reliant on tourism, struggles more than neighbors to recover from COVID.
- US tariffs and global trade tensions have sharply reduced export rates, affecting regional supply chains.
Trade Uncertainty Slows Exports
- Thailand's major deep sea port is unexpectedly quiet, showing slowed export activities amid trade uncertainties.
- Industrial parks see halted expansions as companies wait on US-Thailand trade outcomes.