July's MPI grows by 4.64%: OIE

Office of Industrial Economics (OIE) Director-General Nattapol Rangsitpol revealed Thailand's MPI for July 2018 grew b/y 4.64% compared to the same period last year, thanks to the 8.3% expansion in the export sector with a total export value of US$20.42 billion. 

Thailand's export sector has performed well in overseas markets such as Japan, the European Union, India, and ASEAN, while the Customers Confidence Index and the Thai Industries Sentiment Index have reached the highest levels in 62 months. 

The MPI during the first six months of 2018 has shown a four percent growth alongside an enormous growth of manufacturing sector. 

Industries which have contributed to the MPI growth included automobile industry which grew by 13.17% regarding the manufacturing of pick-up trucks, diesel engines, and sedans with engines no larger than 1800 c.c. as well as sugar industry which saw a 82.26% growth due to large harvests of sugarcanes so far this year. 

Electronic parts industry also grew by 9.18% due to increasing demands, while petroleum industry expanded by 14.24% due to rising demands for Gasohol 95 and jet fuel to feed logistics sector and the increased production of Benzine 91 ahead of the planned maintenance closure of some refinery plants. 

Rubber industry also grew by 9.82% due to the increased production of rubber bars with increasing demands from China.