Industrial production, car exports see growth in Feb

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BANGKOK, 30 March 2015  – The Office of Industrial Economics (OIE) has reported 3.6 percent growth in the Thai manufacturing production index (MPI) of February, along with an 11.32 percent jump in the export of automobiles.

According to OIE Deputy Director Somsak Jantararoungtong, the February MPI edged up for the first time in 23 months by 3.6 percent. The positive growth figure is attributable to the expansion of many important industries, such as automobile, electronic component, sugar and textile. For the entire year, the MPI is expected to increase by an average of 3-4 percent.

Nonetheless, Mr Somsak noted that negative factors at the moment include lingering worries over the continuous decline in oil prices and the contraction of Thai export values in nearly all markets. The United States was the only market with an increasing value, whereas the Japanese market posted the largest shrinkage of 9 percent.

Meanwhile, more than 108,000 cars were exported in February, a rise of 11.32 percent, with major markets being countries in Asia, the Middle East and Oceania. The annual production of cars is projected to reach 2.13 million units, 1.2 million of which will be for export, increasing 6.37 percent compared to last year.