State-run pawnshops lent up more than 20 billion baht to Thai people in 2024 as gold and mobile phones remained the most popular pawned items, according to the Ministry of Social Development and Human Security.
Forty-six state pawnshops across the country accepted around 1.33 million pieces of pawned items last year, of which 97.56% were pawned gold, red gold and diamonds, Warawut Silpa-archa, the Minister of Social Development and Human Security, said on Sunday.
In 2024, Thaiand’s economy grew 1.6% in Q1, 2.2% in Q2, 3.0% in Q3 and 3.2% in Q4, respectively. However, an economist warned that the GDP data and the actual economic situation apparently did not go hand in hand.
The minister said the state pawnshops issued 3,190 tickets in the electronics category, with mobile phones being the most commonly pawned items. Others included fans, refrigerators, rice cookers, microwaves, electric pans and vacuum cleaners.
There were 3,064 items in the power tools and farm equipment category.
“Some people pawned the tools used in their profession or for making a living such as grinders, power planers, metal cutting tools, water pumps, pesticide sprayers and electric generators,” Mr Warawut said.
Office of the Government Pawnshop recently opened a new pawn shop in Bangkok, taking its branch count to 47.
Currently, the interest rates at public pawn shops are 0.25% per month for a loan of less than 5,000 baht, 0.75% for a loan of 5,001-10,000 baht, 1% for a cash loan of 10,001-20,000 baht, and 1.25% for 20,001-100,000 baht.
