Manufacturing sector in Thailand - statistics & facts

The manufacturing sector in Thailand is highly competitive due to several factors, such as the abundance of raw materials, low-cost labor, and innovative technologies. The manufacturing industry is one of the main drivers of the Thai economy. Although the manufacturing sector's contribution to Thailand's gross domestic product (GDP) has fluctuated in the past decade, it contributed approximately 4.4 trillion Thai baht in 2021. Compared to other important economic sectors, the manufacturing sector makes a greater impact on the Thai economy. It accounts for the majority of Thailand’s total exports and generates a large volume of jobs, amounting to almost 6.3 million workers in 2021. As of the first quarter of 2023, the manufacturing sector's contribution to the Thai economy was 34 percent, preceding other major industries like service and trade.

Performance of the manufacturing sector

Relying heavily on exports, the manufacturing industry is still suffering from the economic effects of the COVID-19 pandemic. This ranges from severe deflation to lower demand from worldwide buyers and less manufacturing output in general. The country’s year-on-year MPI growth plummeted and hit rock bottom in the third quarter of 2020. However, as of the first quarter of 2023, the production index witnessed a decent rise compared to the previous year. Therefore, the Thai government introduced more initiatives to promote the manufacturing sector. This included encouraging collaborations between the public and private sectors, funding the manufacturing industry, and supporting knowledge development and new technologies. Since the beginning of 2023, there have been improvements in the Thai manufacturing industry, with the purchasing manager index (PMI) continuing to grow. In 2022, the USA led the export market for electrical appliances from Thailand, followed by ASEAN countries and the EU.

Growth in the manufacturing sector

Before 1958, the Thai government and state enterprises oversaw the production of industrial goods in Thailand. Back then, Thailand imported a considerable number of auto parts and electronic parts from abroad. Attempting to develop the industrial sector, the government passed legislation to promote the sector, allowing the private sector to begin manufacturing. This led to the expansion of several manufacturing segments, such as electrical and electronic appliances, automobile parts, machines and accessories, food and beverages, and chemical products. As of April 2023, electronics and vehicles were the main manufactured goods exported from Thailand. This was followed by agricultural foods, foodstuffs, and machinery and equipment. Moreover, machinery and equipment scored the highest in terms of manufacturing production index (MPI) points.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Jun 13, 2023

Key insights

GDP from the manufacturing sector
4.4tr Thai baht
CAGR of business loans for businesses in the manufacturing sector
0.3%
Product category with the highest amount of export goods
Electronics
Get more insights

Editor’s Picks Current statistics on this topic

Gross domestic product (GDP) from the manufacturing sector in Thailand from 2012 to 2021 (in trillion Thai baht)

Metals & Electronics

GDP from manufacturing in Thailand 2012-2021

Share of economic contribution in Thailand as of 1st quarter 2023, by sector

Key Economic Indicators

Breakdown of economy Thailand Q1 2023, by sector

Export distribution of manufactured goods in Thailand as of April 2023, by product category

Export

Share of manufactured good exports Thailand 2023, by product

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