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Thai vehicle production shrinks 6.11% YoY in May

Thai vehicle production in May 2019 was 181,338 units, which is 6.11 percent lower than the previous year due to declines in both domestic and international markets.

National News Bureau of Thailand

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BANGKOK, 14 June 2019 (NNT) – The Thai vehicle production yield in May 2019 was lower by 6.11 percent year-on-year due to implications from both domestic and international markets, says Federation of Thai Industries.

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The Federation of Thai Industries’ Vice Chairman and Automobile Industry Club Spokesman, Surapong Paisitpatnapong announced yesterday that vehicle production in May 2019 was 181,338 units, which is 6.11 percent lower than the previous year due to declines in both domestic and international markets.

The production yield for export was 94,476 units, which is a reduction of 8.11%, especially the production yield in sedan exports which was 31,657 units, an 18.86% reduction, while the production yield of pick-up trucks for export was 62,819 units, which is a 1.53 percent decline.

These figures correspond to lower vehicle exports of 95,331 units, which is a 3.585% decline, resulting from lower exports to all markets except Asia, the Middle East, Europe, and North America. The total export value for May 2019 was 48.65 billion baht, which is a 6.22% reduction.

The automobile production yield for domestic sales was 86,862 units, lower by 3.83%.

The production yield of sedan cars for domestic sales was 39,690 units, a 3.57% decline, while the production yield of pick-up trucks for domestic sales was 44,436 units, a 3.54% decline.


source: tradingeconomics.com

Positive factors from the growing domestic economies, the government’s measures to help farmers and low-income earners, investments by the government and the private sector, high numbers of international visitors, and the introduction of newer car models, have however contributed to 3.7% growth in domestic vehicle sales at 88,097 units. It is expected pick-up trucks will continue to sell well, given high market demand and continuous growth of the export sector.

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Thai fruit exports to FTA markets up 107 percent

China, Malaysia, Singapore, Indonesia, the Philippines, Hong Kong, Australia and Chile are top importers of Thai fruits, especially fresh durian, mangosteen, longan and mango. Thai exporters are able to benefit from FTA privileges.

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BANGKOK (NNT) – Thailand’s fruit exports continue to increase, despite the sluggish global economy caused by the COVID-19 pandemic, with key trade partners being countries that have free trade agreements (FTAs) with the kingdom.

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50:50 campaign may not get immediate extension

National News Bureau of Thailand

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BANGKOK (NNT) – The government’s 50:50 co-pay campaign expiring on 31st March may not be getting an immediate campaign extension. The Minister of Finance says campaign evaluation is needed to improve future campaigns.

The Minister of Finance Arkhom Termpittayapaisith today announced the government may not be able to reach a conclusion on the extension of the 50:50 co-pay campaign in time for the current 31st March campaign end date, as evaluations are needed to better improve the campaign.

Originally introduced last year, the 50:50 campaign is a financial aid campaign for people impacted by the COVID-19 pandemic, in which the government subsidizes up to half the price of purchases at participating stores, with a daily cap on the subsidy amount of 150 baht, and a 3,500 baht per person subsidy limit over the entire campaign.

The campaign has already been extended once, with the current end date set for 31st March.

The Finance Minister said that payout campaigns for the general public are still valid in this period, allowing time for the 50:50 campaign to be assessed, and to address reports of fraud at some participating stores.

The Fiscal Police Office Director General and the Ministry of Finance Spokesperson Kulaya Tantitemit, said today that a bigger quota could be offered in Phase 3 of the 50:50 campaign beyond the 15 million people enrolled in the first two phases, while existing participants will need to confirm their identity if they want to participate in Phase 3, without the need to fill out the registration form.

Mrs Kulaya said the campaign will still be funded by emergency loan credit allocated for pandemic compensation, which still has about 200 billion baht available as of today.

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