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Friday, March 29, 2024

Thailand’s MPI growth faces stagnation amid export slowdown and high costs

Petroleum production increased in April by 1.8%, Image via Flickr

The Manufacturing Production Index (MPI) in Thailand is predicted to experience subdued growth of 0-1% this year, owing to a combination of domestic and international business challenges. The April MPI reading was the lowest in 34 months, with an 8.14% year-on-year drop to 83.5 points, marking the seventh consecutive decline since October last year, according to the Office of Industrial Economics (OIE).

OIE director-general, Warawan Chitaroon, attributed the decrease to a slowdown in exports as purchase orders decline and the Songkran holidays, during which factories were closed for the festivities. In April, capacity utilisation decreased to 53.8%, down from 66% in March. She said…

“Other risk factors include banking problems in the US, which affected new orders of goods from Thailand. Thai manufacturers also…

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