Thailand Industry November 2020


Thailand: Manufacturing production records largest monthly drop in six months in November

December 28, 2020

Manufacturing output declined 1.0% in month-on-month seasonally-adjusted terms in November, which contrasted October's 3.1% increase. The outturn marked the first decline in output since May.

On an annual basis, manufacturing production rose 0.4% in November (October: -0.4% yoy), marking a return to growth for the first time in 18 months. As such, the trend improved sizably, with the annual average variation of manufacturing production coming in at minus 8.9%, up from October's minus 9.6%.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 6.2% in 2021, which is up 0.5 percentage points from last month’s estimate, and increase 7.3% in 2022.

Author:, Economist

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Thailand Industry Chart

Thailand Industry November 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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