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

Can emerging economies leverage the foods of the future?

The production and consumption of food accounts for over 20% of global greenhouse gas emissions and more than 90% of freshwater consumption, highlighting the importance of fostering food-production systems that consume fewer resources and are more resilient to climate change.

Indonesia’s role in ASEAN’s energy transition

This ESG Intelligence report details the country’s growing role in the global ESG ecosystem, with a focus on topics such as national progress towards renewable energy goals