OIE believes Thailand can still achieve industrial growth target of 2-3 percent

BANGKOK, 5 June 2015 (NNT) - The Office of Industrial Economics (OIE) strongly believes that the annual industrial Gross Domestic Product (GDP) would reach 2 - 3 percent as predicted.

OIE Director Udom Wongviwatchai said the figure in the first quarter was at 2.3 percent, well within his agency’s forecast range. He said the positive factors include the improved economy of the world and the U.S. and the local investment expansion which was a direct result of the government’s investment promotion policy.

Mr. Udom said the five best performing industries in Thailand at the moment are food & drink, auto & auto parts, machinery, electrical appliance & electronics and chemical & chemical products & petroleum.

He said currently the concerning issues affecting the local economy include global economic fluctuations, benchmark rate adjustments in Thailand and her trading partners, the value of the Thai baht against the U.S. dollar, the global fuel price, and the continuous growth of household debts.

-- NNT 2015-06-05

The best performing industry in Thailand is the world famous THai sex trade. Thais can't seem to bring themselves around to facing that fact. Thais are in a constant state of denial about their award winning sex trade.

The prolonged political mess has stopped FDI. Without it, gdp will never move forward.

"OIE Director Udom Wongviwatchai said the figure in the first quarter was at 2.3 percent, well within his agency’s forecast range"

Seeing as he announced his projection on 2015-04-24 , he should be within the range of his forecast as of today.

"Mr. Udom said the five best performing industries in Thailand at the moment are food & drink, auto & auto parts, machinery, electrical appliance & electronics and chemical & chemical products & petroleum."

Nalin Chutchotitham, HSBC Thailand economist, attributed Thailand's weak export performance to the product mix of electronics and electrical appliances; automobiles and parts; food; machinery and equipment; and agricultural products.

"As 17 per cent of the total are agricultural and agro-industrial products, a significant percentage of Thai exports are affected by low agricultural prices. Meanwhile, some of the key manufactured products such as electronics face strong competition, while others like electrical appliances are affected by weaker demand in Asia," The Nation 2015-04-28

The government remains always upbeat about the economy while the economy continues to get beaten down. Add the existing deterioration of the Thai economy to greater competition from the ASEAN nations after 2015 and Thailand's economic survival will be severly tested.

The OIE is in denial.

"OIE Director Udom Wongviwatchai said the figure in the first quarter was at 2.3 percent, well within his agency’s forecast range"

Seeing as he announced his projection on 2015-04-24 , he should be within the range of his forecast as of today.

"Mr. Udom said the five best performing industries in Thailand at the moment are food & drink, auto & auto parts, machinery, electrical appliance & electronics and chemical & chemical products & petroleum."

Nalin Chutchotitham, HSBC Thailand economist, attributed Thailand's weak export performance to the product mix of electronics and electrical appliances; automobiles and parts; food; machinery and equipment; and agricultural products.

"As 17 per cent of the total are agricultural and agro-industrial products, a significant percentage of Thai exports are affected by low agricultural prices. Meanwhile, some of the key manufactured products such as electronics face strong competition, while others like electrical appliances are affected by weaker demand in Asia," The Nation 2015-04-28

The government remains always upbeat about the economy while the economy continues to get beaten down. Add the existing deterioration of the Thai economy to greater competition from the ASEAN nations after 2015 and Thailand's economic survival will be severly tested.

I think he holds one of those positions where a negative comment could cost him his job and it would be turned over to a Tarot card reader.

2 to 3%???? How about that for a guess? Factoring in a 50% margin for error? Glad to know he's got a full understanding then...