Thailand: 2017’s MPI grows by 1.58 percent
Bangkok (NNT/VNA) – Thailand’s Manufacturing Production Index in 2017 showed 1.58 percent growth from a previous year with rubber products, automobiles, automobile engines, vegetable oil, and petroleum being major performers.
Office of Industrial Economics’ (OIE) Director Siriruj Chulakaratana revealed Thailand’s MPI in December 2017 grew by 2.35 percent from the same period a year earlier, thus seeing 2017’s overall figure expand by 1.58 percent.
The manufacturing of rubber products grew by 28.92 percent due to a better rubber supply and increased volume of rubber export to China, while the manufacturing of sedans and pick-up trucks with engines no more than 1800 cc caused the automobile sector to grow by 13.53 percent, which was attributed to the automobile engine manufacturing which expanded 24.15 percent.
The manufacturing of vegetable oil grew by 57.19 percent, mostly due to the increased supply of palm oil as raw material, and the promotion of palm oil export to India and China. The manufacturing of oil, mostly being gasohol 95 and naphtha grew by 10.63 percent.
The projected uptrend during the first quarter of 2018 includes the growth in food industry at 4.7 percent due to the rising demands for chicken products, and 2.97 percent growth in automobile industry, given the expected manufacturing of 500,000 vehicles throughout this year.
The electricity and electronics industry is expected to grow by 2.76 percent due to the demand of appliances and computer parts, while the steel and iron industry is expected to grow by 3.21 percent from the expected recovery of steel rods demands in construction.
The garment industry is expected to grow by 0.87 percent, with 5.12 percent increase in the production of textiles, and 6.28 percent increase in ready to wear clothes from better performing economy at trade partner countries such as China, Japan, Vietnam, and CLMV countries.-VNA