Thailand Industry April 2020

Thailand

Thailand: Manufacturing production drops at sharpest pace in eight-and-a-half years in April

May 28, 2020

Manufacturing output fell 17.21% year-on-year in April (March: -10.5% year-on-year). April's reading marked the steepest fall since October 2011. April’s figure largely reflected plummeting output of autos; petroleum refining products; basic iron and steel; and rubber and plastic products. Accordingly, the trend pointed down, with the annual average variation of manufacturing production coming in at minus 6.4% in April, down from March's minus 4.9%.

Meanwhile, manufacturing production fell 9.4% month-on-month in seasonally-adjusted terms (March: -5.1% month-on-month seasonally-adjusted).

FocusEconomics Consensus Forecast panelists expect manufacturing output to fall 8.7% in 2020, which is down 1.4 percentage points from last month’s estimate. For 2021, the panel sees manufacturing output increasing 7.0%.


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Thailand Industry April 20 20

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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