Industrial production in Thailand increased by 2.03 percent year-on-year in April 2019, easily beating market consensus of a 1 percent fall and reversing from an upwardly revised 2.66 percent drop in the previous month. It was the biggest gain industrial output since October last year, mainly boosted by production of cars and air conditioners. For 2019, the government expects manufacturing output to increase between 2 to 3 percent, after growing 2.8 percent in 2018. Meantime, capacity utilisation was at 63.89 percent in April, down from a downwardly revised 74.25 percent in March, mostly due to holidays. Industrial Production in Thailand averaged 6.79 percent from 1988 until 2019, reaching an all time high of 59.60 percent in November of 2012 and a record low of -32.50 percent in November of 2011.
Industrial Production in Thailand is expected to be 3.50 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 2.80 in 12 months time. In the long-term, the Thailand Industrial Production is projected to trend around 3.10 percent in 2020, according to our econometric models.