BANGKOK, Jan 31 – Thailand’s Industrial Economics Office forecast that the country’s automotive industry will continue to grow this year.
Industrial Economics Office Deputy-Director Hathai Uthai said the forecast was because automotive companies wanted to speed up manufacturing cars for their customers.
Overall car production is targeted at 2.5 million units, a 2.57 per cent increase from last year, half of which — 1.25 million units, a 22.18 per cent increase from 2012 – is targeted for export.
However, Mr Hathai said domestic car sales are projected to be 12.31 per cent lower this year as the government’s first-time car buyer scheme already ended.
Meanwhile, the Electrical and Electronics Industry is estimated to expand 3 per cent compared to last year, particularly in the Association of Southeast Asian Nations (ASEAN) and US markets.
According to the Industrial Economics Office, the textile and garment sector might see a slight reduction in exports but within the range of a few percentage points, while the food industry this year is expected to grow 4.7 per cent.