Thailand’s industrial production up 6.37% in July

The Office of Industrial Economics of Thailand (OIE) announced that the July industrial production index (MPI) was 95.71, up 6.37% from the same period last year. In the first 7 months of this year (Jan.-Jul.), growth averaged 1.23%.

The capacity utilization rate (CapU) was 61.01% in July, compared to 62.46% in June, while it decreased in the first 7 months of this year. The average capacity utilization is 63.42%.

Key factors impacting July 2022 production are the result of last year’s low baseline due to severe COVID outbreaks, lockdowns, and store closures in some areas last year.
Meanwhile, domestic economic activity continued to improve. This was partly reflected in the production of petroleum refined products, which continued to increase for the tenth consecutive month.

Inflation continues to affect companies in the industrial sector by raising production costs, but it has slowed somewhat. The producer price index (PPI) for industrial products rose by 10.5% in July (12.9% in June).

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