Thailand's manufacturing production slumped 17.21 percent year-on-year in April of 2020, compared with market expectations of 19.55 percent fall and following a downwardly revised 10.48 percent decline in the previous month. This was the 12th straight month of decrease in factory activity and the steepest since November 2011, amid the rapid spread of COVID-19 cases in the country, with production falling for cars, petroleum, and beer. For 2020, the ministry has forecast the manufacturing production index to rise 2 to 3 percent. The outbreak is expected to have a short-term impact on the country's factory output, mainly on the food industry, due to a drop in tourists. Meanwhile, capacity utilization fell to 51.87 percent in April from March's upwardly revised 67.78 percent.
Industrial Production in Thailand averaged 6.40 percent from 1988 until 2020, reaching an all time high of 59.60 percent in November of 2012 and a record low of -32 percent in November of 2011. This page provides the latest reported value for - Thailand Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Thailand Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Office of Industrial Economics, Thailand
Industrial Production in Thailand is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Thailand to stand at 3.10 in 12 months time. In the long-term, the Thailand Industrial Production is projected to trend around 3.20 percent in 2021, according to our econometric models.