Manufacturing Production in Thailand
The economy recorded average manufacturing growth of -0.2% in the decade to 2022. In 2022, manufacturing growth was 0.4%, down from the 5.8% reading of the prior year.
Thailand Manufacturing Chart
Thailand Manufacturing Data
2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|
Manufacturing Production (ann. var. %) | -3.4 | -9.5 | 8.3 | 1.3 | -3.8 |
Manufacturing activity deteriorates in June
Manufacturing output dropped 1.7% in year-on-year terms in June, which was a larger contraction than May's 1.5% decrease. June's downturn largely reflected a deterioration in automotive vehicles and chemical products output. Moreover, computer and electronic products dipped at a steeper pace than in May. However, both food and refined petroleum products output gained traction. Meanwhile, the trend improved, with the annual average variation of manufacturing production coming in at minus 3.0% in June, up from May's minus 3.2%. On a seasonally adjusted monthly basis, manufacturing production fell at a softer pace of 0.6% in June (May: -0.8% mom).
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 7 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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