Mr. Suriya Jungrungruangkit Minister of Industry (AOT) revealed that the Thai industrial economy expanded close to the previous period of the Covid-19 epidemic situation. Overall, the Manufacturing Production Index (MPI) for the year 2021 grew by 5.93% from the same period last year, higher than the target set by the Office of Industrial Economics (OIE) which was previously expected to grow by 4.0. -5.0%
In addition, the industrial economy in 2022 is expected to expand continuously from the signal exports of industrial products (excluding gold, weapons, tanks and aircraft) in December expanded by 23.56 per cent, with export value. at $19.572.3 million, the highest ever coupled with the import of capital goods Raw materials and semi-finished products (Excluding gold) December 2021 that continued to expand in order to prepare for further production.
The industrial economy has recovered close to the pre-Covid-19 epidemic. following trading partners have measures to cope with the economy and better distribution of vaccines in industrial plants As a result, the industrial sector is an important mechanism in the recovery of the Thai economy.
“It is expected that in 2022 will increase following the global economic outlook improves. Including the domestic market has begun to recover following the easing of epidemic control measures and supported through the government’s continuous economic stimulus measures,” said Suriya.
Mr. Thongchai Chavalitpichet, Director of the Office of Industrial Economics (NESDB) The MPI in December 2021 was at 102.59, an increase of 6.83% from the same period last year and higher than December 2019 at 98.81, which was before the epidemic. COVID-19
The 2021 MPI grew by 5.93% from the same period last year, while the capacity utilization rate for the full year 2021 stood at 63.73%, signaling the industrial economy has returned to expand and is likely to expand further. in 2022
In addition, most of the major industries that are important in driving the Thai economy continued to expand. Especially the automotive, rubber products, electrical and electronic appliances, petrochemicals, textiles and garments, rubber products, chemicals and food which expanded well in line with the world economy.
coupled with the recovery of domestic economic activities reflected through the expansion of the petroleum industry. It is therefore expected that in 2022, the Thai industrial economy will continue to expand. This is because Thailand and trading partner countries have clear measures to continuously expand their economic activities. Although the spread of COVID-19 continues
The key industries that had a positive impact on the MPI in December 2021 compared to the same period last year were:
automotive increased by 9.15% from the same period last year from pickup truck products medium sized car diesel engine and large passenger cars by expanding in line with export markets and the recovering world economy. As a result, there is a demand for more cars.
Petroleum increased by 7.54% from the same period last year due to high speed diesel products Fuel oil type 2, fuel oil type 5 and gasoline 91 mainly as a result of the relaxation of Covid-19 epidemic control measures. Opening the country to tourists following people have received high rates of vaccination. resulting in more economic activities and the increase in travel caused the demand for transportation oil to increase accordingly.
sugar increased 31.52% from the same period last year due to the faster opening of cane crushing and the number of factories that started to open more than the previous year including favorable weather conditions for cultivation As a result, the volume of sugarcane crushed this year was higher than the previous year.
Electronic components and circuit boards increased by 14.24% from the same period last year due to the continuously increasing demand for products in the world market To be used in daily life products such as cars, home appliances, electrical equipment, etc.
other rubber products Growth increased by 16.08% from the same period last year mainly due to block rubber, rubber bands and concentrated latex, in line with the recovery of the export market with more orders coming in. as well as expanding the demand for continuous use in the automotive industry