Thailand Industry


Thailand: Manufacturing contracts in March

April 30, 2015

In March, manufacturing production fell 1.8% over the same month last year, which contrasted the 3.0% increase observed in February and marked the fastest decrease since November 2014. The drop was mainly driven by decreasing output in the manufacturing of electronics and cars.

On a monthly basis, manufacturing output fell 5.6% in seasonally-adjusted terms, which contrasted the 2.0% increase recorded in February. However, annual average growth in industrial production improved from minus 3.4% in February to minus 2.7% in March, which marked the softest contraction in over a year.

FocusEconomics Consensus Forecasts panelists expect manufacturing to expand 1.8% in 2015, which is down 0.3 percentage points from last month’s estimate. For 2016, the panel expects manufacturing to expand 6.1%.

Author:, Senior Economist

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Thailand Industry Chart

Thailand Industry March 2015

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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