“FTI” assesses the trend of Thai industry in 2023 compared to the previous year, still growing amid risks and fluctuations in the global economy, that 17 industries continue to grow, while 21 of industries are stable and 7 industries tend to slow down.
Mr Montri Mahapruekphong, Vice President of the Federation of Thai Industries (FTI) revealed that FTI has surveyed trends in 45 industry groups and 5 regions in 2023 compared to 2022, and the growth is expected to continue and the continuation of 17 groups industrial These include environmental management, printing and packaging, machinery and metalwork, auto parts and parts, digital, sugar, medical equipment manufacturers, power producers, renewable energy, furniture, pharmaceuticals, automobiles, petroleum refining factories, foundries, roofing and fittings, steel, Food and Drink
“Supporting factors for 17 major industry groups It comes from the recovery of the tourism sector, especially China opening the country, which will drive the demand for domestic products to increase. and exports that continue to grow well and new markets are opened Overall, although Thai exports may slow down due to the global economic recession, but the use of various trade agreement frameworks Cause more opportunities to open new markets, especially Saudi Arabia,” said Mr Montri.
For industry groups expected to stabilise, there are a total of 21 industry groups, namely:
gas, glass and mirrors, agricultural machinery, air conditioning and refrigeration, cosmetics,
ceramics, shipbuilding, ship repair and steel construction, biotechnology, palm oil, cement, products
food additives, plastics, electrical and electronics, plywood and sheet materials, rubber, pulp and paper,
footwear, textiles, creative crafts, aluminium, and jewelery and accessories. by supporting factors
This was mainly due to the recovery of the tourism sector, the return of the Thai baht to an appropriate rate for exporters and importers, and merchandise exports continued to expand.
However, there are still risk factors that must be monitored, such as inflation and production costs which are still at a high level. especially the cost of electricity, raw material prices, labor wages Including the increase in loan interest rates, which will affect the country’s competitiveness. In particular, the increase in the price of electricity in the industrial sector was 5.33 baht per unit, an increase of 13% from the previous period. Including the chance of a recession (Recession) in major economies such as the United States, including geopolitical conflicts. and measures to prevent trade from climate change, etc.
For industries likely to slow down, there are 7 industries: Granite and marble industries, petrochemicals, herbs, chemicals, clothing, sawmills and wood kilns, leather and leather products. In terms of industry trends in 5 regions, it was found that the northern, central and eastern regions continue to grow. While the North East remained stable and the South slowed down.
