BANGKOK (NNT) – Improving world economic conditions and continued government stimuli have brought about the first expansion of Thailand’s export sector, excluding gold, in 12 months at 6.68 percent in December 2020, while the Manufacturing Production Index (MPI) fell year-on-year by 2.44 percent.

Director of the Office of Industrial Economics (OIE) Thongchai Chawalitpichet pointed out that Thailand’s effective control of COVID-19, both among the public and business sectors, helped to reduce the disease’s impact on the industrial economy with demand for products relevant to the virus, such as medical electronics, rubber gloves, pharmaceuticals and food, growing.

The director remarked that confidence would be a major deciding factor moving forward, highlighting the first shipment of COVID-19 vaccines in February and global vaccination efforts as two developments that could spur production and consumption.

He added that government stimulus programs, such as the co-pay scheme and Shop Dee Mee Kuen as well as Rao Chana, will be important in fueling consumption and SME activity to prop up the economy.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thailand’s Competitiveness Ranking Drops Five Places to 33

The Kingdom scored 68.67 this year, a significant drop from last year’s 72.52. Thailand’s score is well below this year’s average of 70.03.

How War in Ukraine Is Reverberating Across World’s Regions

The biggest effects on current accounts will be in the petroleum importers of ASEAN economies, India, and frontier economies including some Pacific Islands. This could be amplified by declining tourism for nations reliant on Russian visits.