Latest reading: Industrial output declined 1.3% month-on-month in seasonally adjusted terms in June (May: +1.1% mom). Looking at the details...
Manufacturing Production in Thailand
The economy recorded average manufacturing growth of -0.5% in the decade to 2024. In 2024, manufacturing growth was -1.3%, down from the -3.6% reading of the 2023.
Thailand Manufacturing Chart
Note: This chart displays Manufacturing Production (ann. var. %) for Thailand from 2016 to 2024.
Source: Macrobond.
Thailand Manufacturing Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Manufacturing Production (ann. var. %) | -9.5 | 8.3 | 1.5 | -3.6 | -1.3 |
Manufacturing activity growth eases in June
Latest reading: Manufacturing output grew 0.6% year on year in June (May: +1.9% yoy). Food products output swung to contraction in June, while output of refined petroleum products plus automotive vehicles grew at a quicker pace. On a monthly basis, manufacturing output fell 1.7% in seasonally adjusted terms in June, which was below May’s 0.2% fall and marked the worst result since November 2024. Meanwhile, the trend improved slightly, with the annual average variation of manufacturing production coming in at minus 0.7% in June, up from May's minus 0.8%.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Thai manufacturing projections for the next ten years from a panel of 6 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable manufacturing forecast available for Thai manufacturing.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Thai manufacturing projections.
Want to get access to the full dataset of Thai manufacturing forecasts? Send an email to info@focus-economics.com.
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