Experts worried Thailand industry in this year may not grow at all


Suphan Mongkolsuthi, chairman of the Federation of Thai Industries (FTI), said the Industrial Confidence Index in February 2022 was at 86.7, down for the first time in six months from 88.0 in January. The index components Decreased in all items including overall orders, total sales, production volume operating costs, and performance.

The index, based on a survey of 1,242 entrepreneurs in 45 industries, fell to 86.7 from 88 in January, according to data from the Federation of Thai Industries (FTI).

Continuously rising number of new COVID-19 infections, which forced the Thai government to raise the COVID-19 alert level to the second-highest tier last month, and surging production costs due to higher prices of raw materials, energy, and freight costs, were the main factors that affect industrial players’ confidence, said FTI Chairman

The exchange rate fluctuations and supply chain disruptions also added to the gloom, according to Suphan.

However, the three-month sentiment index climbed to 97.1 from 96.4 in January, amid rising optimism that the global economic recovery would support Thailand’s exports, and easing entry rules would lift the tourism sector.

Recently, Thailand reported 22,984 new cases and 74 additional deaths, bringing the total number of infections to more than 3.11 million and that of death toll to 23,512, according to the Center for COVID-19 Situation Administration. As a result, government moves the COVID-19 restriction level from 3 to 4 mean less possibilities to increase the cash circulation.


Please enter your comment!
Please enter your name here

Share post:




More like this

Thai-Laos Railway Test Successful, Service Expected June 2024

The Daily News Transport Innovation team reports that the...

Thailand’s Export Competitiveness Declines Amid Global Trade Rebound

Thailand's struggle to capitalize on the improving global trade...

Thailand’s Car Manufacturing Target Faces Downgrade Amid Economic Slowdown

Amidst a backdrop of economic sluggishness, Thailand's automotive industry...

TFOPTA Holds 2024 Meeting in Hua Hin, Plans 2025 in Phitsanulok

On May 22, 2024, the Thailand Federation of Regional...