Thai exports see highest jump in 29 months
Thailand’s manufacturing production index (MPI) in January rose to 101.82, driving the highest export growth in 29 months, the Industry Ministry reported on Thursday.
Exports of goods (minus gold) in January grew 8.22 per cent, expanding for the second consecutive month.
Factory utilisation also increased to 66.41 per cent, boosting hopes of a manufacturing recovery following Covid-19 prevention measures and the arrival of Thailand’s first vaccine shipment on Wednesday.
The January MPI represented a 2.80 per cent fall from the same period last year, but this was less than the 4.4 per cent contraction predicted by analysts in a Reuters poll.
The speed of recovery in Thai manufacturing would depend on Covid-19 vaccination rollout here and abroad, domestic infections, government stimulus measures, and tourist numbers this year, said the ministry.