Thailand Industry May 2021

Thailand

Thailand: Manufacturing activity improves in May

June 28, 2021

Manufacturing output was unchanged month-on-month in seasonally-adjusted terms in May, improving from April’s 0.4% decline.

On an annual basis, manufacturing production increased 25.8% in May, which was significantly better than April’s 18.0% expansion and marked the best result since November 2012. Accordingly, the trend improved, with the annual average variation of manufacturing production coming in at minus 0.1%, up from April's minus 4.3%.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 8.1% in 2021, which is unchanged from last month’s estimate, and increase 8.2% in 2022.


Author:, Economist

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Thailand Industry May 2021

Note: Year-on-year changes and annual average variation of manufacturing production index in %.
Source: Office of Industrial Economics (OIE) and FocusEconomics calculations.


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