Thailand's industrial GDP likely to grow 3% in 2018

BANGKOK, December 29 (TNA) - The Thai Ministry of Industry says that the country's gross domestic product (GDP) in the industrial sector should grow by about 3 per cent year-on-year next year, on top of about 1.5-2 per cent year-on-year this year. Siriruj Chulakaratana, Director-General of the ministry's Office of Industrial Economics (OIE), told journalists of the updated projection on December 28, mentioning that the figure, if achieved, should be the highest GDP for the Thai industrial sector since 2013. Siriruj also forecast that Thailand's manufacturing production index (MPI) next year should further increase by about 2.5 per cent year-on-year, from about 2.5 per cent year-on-year this year, boosted mainly by the country's automobile, rubber and energy industries. According to the senior official, the updated projection is based on the fact that Thailand's MPI during the 11 months of this year rose by 1.52 per cent year-on-year, with Thai exports of industrial products alone, excluding gold bars, soaring 16 per cent year-on-year, resulting in the country's GDP in the industrial sector expanded by about 2.2 per cent year-on-year during the first three quarters of this year. The senior official noted that Thailand's MPI in November 2017 alone stood at 116.83, a 4.23 per cent increase from a month earlier and the highest in eight months. (TNA)