OIE believes Thailand can still achieve industrial growth target of 2-3 percent

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BANGKOK, 5 June 2015 – The Office of Industrial Economics (OIE) strongly believes that the annual industrial Gross Domestic Product (GDP) would reach 2 – 3 percent as predicted. 

OIE Director Udom Wongviwatchai said the figure in the first quarter was at 2.3 percent, well within his agency’s forecast range. He said the positive factors include the improved economy of the world and the U.S. and the local investment expansion which was a direct result of the government’s investment promotion policy.

Mr. Udom said the five best performing industries in Thailand at the moment are food & drink, auto & auto parts, machinery, electrical appliance & electronics and chemical & chemical products & petroleum.

He said currently the concerning issues affecting the local economy include global economic fluctuations, benchmark rate adjustments in Thailand and her trading partners, the value of the Thai baht against the U.S. dollar, the global fuel price, and the continuous growth of household debts.