Thailand’s manufacturing production highest in 23 months

After 2 years of falling, largely affected by the Covid-19 pandemic, Thailand’s manufacturing production index has grown for the first time in 23 months. The index, which measures manufacturing activity, hit 107.73 last month, which is the highest it has been since April of 2019. With a growth of 4.12% in the last year, the index had its strongest performance since October of 2018.

The Office of Industrial Economics monitors these figures and attributes the positive growth to Thailand’s trading partners having increased demand for Thai exports. They also pointed out though that growth is more easily achieved from the low bar set by last year’s Covid-19 hampered figures.

The Thai government implemented economic stimulus packages that helped boost production, along with the start of the Covid-19 vaccine rollout. Confidence was raised, and Thailand’s manufacturing capacity…