Connect with us

Economics

Thailand vehicle production up 43%

The Thai Federation of Industries expects vehicle production to jump 43 per cent in the first quarter of 2013, and a government official recently stated that Thailand could build 2.8 million vehicles this year, up from 2.4 million last year.

Published

on

The Thai Federation of Industries expects vehicle production to jump 43 per cent in the first quarter of 2013, and a government official recently stated that Thailand could build 2.8 million vehicles this year, up from 2.4 million last year.

“This would enable car and truck production in Thailand to leapfrog past assemblies in Canada,” Gomes wrote. He suggests the country could be making 3 million cars a year by 2015. Gomes’s assessment jibes with official data from the International Organization of Motor Vehicle Manufacturers, which shows Canada barely held on to its No. 10 overall ranking last year, with 2,463,732 Canadian-built vehicles. Thailand built 2,483,043 vehicles in 2012, good enough for ninth overall.

automotive_headline

China remains the world’s largest car manufacturer

Indeed, Canada has seen its share of the global market slowly erode in recent years. While China remains the world’s largest car manufacturer, building 19.2 million cars last year, America held on to second place with 10.3 million vehicles. Canada was the second-largest North American producer for decades, before Mexico eclipsed Canada following the recession. Mexico built just over three million cars last year, good enough for 8th in the world. Overall, carmakers built more than 84 million cars all over the world last year. Read More

In 2011, 1.46 million vehicles were manufactured in Thailand, ranking Thailand 14th among the world’s automotive manufacturing countries. According to the Thai Automotive Instituteproduction is predicted to reach 2.2 million units in 2012, 50% produced for domestic sale and 50% for export.

“Thailand is expected to produce 2 million cars in 2012 and is expected to achieve 3 million units by 2015 – placing it among the world’s top 10 auto producing countries. The economic opening of Myanmar could propel Thailand’s ascension into the world’s top 10 auto producing countries even faster by increasing regional demand as it looks to upgrade its older cars.”

 -Dr. Patima Jeerapaet, President of Thailand Automotive Institute

 

Top 10 Vehicle Export Destinations in 2011

Country

Value (US$)

%

Australia

        2,264,385,667

21.5%

Indonesia

        1,251,496,333

11.9%

Malaysia

           572,750,667

5.4%

Saudi Arabia

           558,118,667

5.3%

Philippines

           527,428,000

5.0%

Japan

           458,259,000

4.3%

Russia

           378,630,667

3.6%

Oman

           224,666,000

2.1%

Chile

           217,057,667

2.1%

UK

           193,111,667

1.8%

Total top 10 countries

        6,645,904,333

63%

Source: Thai Automotive Institute

 

Economics

Asia’s slow rate of vaccination is a thorn in the region’s economic recovery

Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving average. The Philippines and Malaysia are not far off their daily infection peaks reached in the second quarter of 2021.

Published

on

Last week was tough for the Asia-Pacific region. Many countries responded to stubbornly elevated daily infections by extending or tightening social distancing measures.

(more…)
Continue Reading

Economics

World Bank lowers Thai GDP growth outlook to 2.2%

In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.

Published

on

BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.

(more…)
Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,160 other subscribers

Wise

Recent