Thailand Industry April 2021

Thailand

Thailand: Manufacturing production deteriorates in April

May 28, 2021

Manufacturing output fell 0.1% month-on-month in seasonally-adjusted terms in April (March: +2.2% mom).

On an annual basis, manufacturing output surged 18.5% in April (March: +5.9% yoy), the best result since January 2013 and in part driven by a significant base effect following April 2020’s steep contraction. Accordingly, the trend improved sizably, with the annual average variation of manufacturing production coming in at an over one-year high of minus 4.3% in April, up from March's minus 7.4% reading.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 8.1% in 2021, which is down 0.2 percentage points from last month’s estimate, and increase 8.6% in 2022.


Author:, Economist

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Thailand Industry April 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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