InfoQuest (November 30, 2020) - Thailand's Manufacture Production Index (MPI) was 95.72 in October 2020, down 0.54 percent from last year and 2.15 percent from previous month with an overall contraction of 10.33 percent from January to October, Thongchai Chawalitphichet said, the Director-general, Office of Industrial Economics.
Capacity utilization (Cap U) in October amounted to 63.2 percent, slightly lower than 63.46 percent in September, and averaged 60.44 percent in the first ten month of this year.
Upon measures supporting domestic consumption, increasing price of agricultural products, and single-digit imports of foreign raw materials and semi-finished products (excluding gold) in October, several industries threw an important impact on October MPI, including petroleum refining, electronic parts, vegetable and fruit processing, automobile, clothing, and aquaculture refrigeration; MPI of which rose 8.45 percent, 6.07 percent, 19.98 percent, -3.32 percent, -17.21 percent and -14.14 percent respectively.
The Office forecasted a positive MPI growth of 0-2 percent and 2-4 percent for November and December separately.
According to the Office, MPI 2020 may see an overall decline of 8.0 percent with forecast industrial GDP 2020 plunging 7.0 percent, in case of 30-35 baht/U.S. dollar for exchange rate and 35-45 U.S. dollars/barrel for Dubai crude oil price.
But MPI 2021 is expected to increase 4.0-5.0 percent and industrial GDP 2021 may be 4-5 percent higher, in case of 29-32 baht/U.S. dollar for exchange rate and 40-50 U.S. dollars/barrel for Dubai crude oil price.
Source: InfoQuest, by Tanit Tongnok/Kasamarporn/Tanawat, translated by Xinhua Silk Road
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