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March factory output highest in last 29 months
The manufacturing production index (MPI) for March rose 4.12 per cent to a 29-month high, the Industry Ministry said on Wednesday.
The March MPI rose 4.12 per cent from a year earlier and is likely to rise again next month, said the ministry.
Capacity utilisation stood at 69.59 per cent as production grew amid the global economic recovery, absence of lockdowns and no major Covid-19 outbreaks among factory workers.
The rise in MPI is also being driven by demand created by government stimulus schemes such as RaoChana, Rao Ruk Gun, Khon La Khrueng, the ministry said. Meanwhile, the gradual rollout of mass vaccination had boosted confidence and brought improvement in both the production and consumption sectors, it added.
Driving the rise in MPI was the auto industry – where production rose 7.53 per cent to meet domestic and export demand – and the iron and steel industry, where production rose 19.19 per cent amid a 40-60 per cent increase in global steel prices.
Exports of industrial products (excluding gold and special items) grew 25.77 per cent for their first double-digit expansion in 31 months. March also saw a 26.45 per cent increase in imports of raw materials and semi-finished products, electrical appliances and electronics components.
Published : April 29, 2021
By : The Nation