Production Capacity Utilization
-----------2007---------- ------ 2008 ------
(Percent) Total H1 Q3 Q4 Q1 Q2 H1
Total Production Capacity 74.4 73.9 73.7 76.1 76.7 72.3 74.5
Beverage 81.5 81.4 76.5 86.8 87.6 81.1 84.4
Paper 90.8 90.1 91.0 91.9 92.0 91.5 91.7
Chemical Product 95.9 90.4 101.0 101.8 92.6 95.8 94.2
Petrochemical Product 88.2 87.5 90.8 87.1 88.8 89.8 89.3
Construction Material 78.4 78.4 80.6 76.1 79.7 73.1 76.4
Automobiles and Auto Parts 72.6 68.9 75.7 76.9 78.0 76.9 77.4
Electronic Product 79.3 72.2 81.5 91.1 81.0 79.3 80.2
Export
Export 30— 60% of total output 69.6 71.4 65.9 69.7 80.7 64.5 72.6
Export >60% of total output 71.1 70.0 69.7 74.6 67.6 65.0 66.3
Source: BOT
Investment in machinery and equipment expanded by 5.2 percent. Import of capital goods rose (at
2000 prices) by 8.9 percent especially investment in electrical machinery, industrial machinery, computer
parts and metal equipment import that continuously increased. Domestic machinery sales (at 2000 prices)
increased by 2.7 percent during April to May. However, commercial car sale dropped by 5.7 percent stemmed
from concerns over rising diesel prices.
Investment in private construction grew by 1.3 percent, slightly improving from 0.4 percent in the
first quarter, contributed by the acceleration of construction in commercial building which increased by 9.8
percent. In addition, housing constructions improved to grow by 6.4 percent after contractions in the last 2
quarters, as a result of improvement of housing construction in Bangkok and vicinities particularly
condominium located close to mass transit rail routes. Low real interest rates were also favourable
factors. Meanwhile, construction of industrial plant and other projects declined by 10.8 and 14.9 percent,
respectively.
During the first half of the year, private investment grew by 5.4 percent contributed by 6.7
percent investment growth in machinery and equipment and 0.8 percent investment growth in construction,
classified into growth of commercial building construction and residential construction of 12.1 and 0.6
percent respectively. Meanwhile industrial plant construction and other construction fell by 2.5 percent and
3.1 percent respectively.
- Export growth remained buoyant following continued substantial increase in price, while export
volumes edged up slightly. In the second quarter of 2008, export value in US dollar terms expanded notably
by 26.3 percent contributed in part by strong increase of export price by 12.5 percent, accelerated from 9.9
percent rise in the previous quarter. Export volumes increased by 12.3 percent, comparable to 11.8 percent
growth in the first quarter. However, in baht terms, export value and price increased at smaller rates of
16.7 and 4.9 percent respectively as Thai baht had appreciated by 6.9 percent from the same period last year.
- Agriculture commodity: export price accelerated notably and supported a robust
expansion of export value. Export value of agricultural commodity grew by 64.2 percent, compared to 45.9
percent growth in the first quarter of 2008. Export price increased to 52.5 percent up from 26.5 percent in
the last quarter. Prices of most major agricultural export rose, including those of rice, corn, cassava and
rubber. This is in tandem with the windfall of rapid increased in global commodity prices and concern over
food crisis. Export volume increased by 7.7 percent, softened from 15.3 percent growth in the previous
quarter due to a slowdown in rice exports and a declines in cassava and corn export under the condition of
supply constraint.
Export of Agriculture
Export 2007 2008
(%YOY) Year H1 Q3 Q4 Q1 Q2 H1
Rice Value 34.2 16.9 59.4 108.1 156.0 134.7 34.2
Price 9.5 7.3 4.2 13.6 90.9 51.7 9.5
Quantity 22.7 7.7 53.1 82.7 35.3 56.1 22.7
Rubber Value 4.5 -6.4 17.8 33.6 30.5 32.1 4.5
Price 7.1 -7.2 27.0 33.8 26.9 30.1 7.1
Quantity -3.0 0.6 -7.4 0.0 2.9 1.3 -3.0
Cassava Value 23.1 -1.1 13.0 13.5 20.0 16.3 23.1
Price 24.5 40.5 55.4 58.9 61.9 60.6 24.5
Quantity 3.8 -29.7 -27.2 -29.3 -25.5 -27.8 3.8
Corn Value 48.6 296.4 -9.7 229.6 -6.6 110.8 48.6
Price -7.0 -41.4 37.9 15.0 186.3 110.3 -7.0
Quantity 22.7 395.3 -34.4 181.1 -43.5 82.6 22.7
Source: MOC
- Manufacturing products: Both export volume and price continuously increased with more broad base
expansion. Export volume of manufacturing products grew by 24.3 percent, with volume and price growth of 8.3
and 14.8 percent respectively. Main drivers of manufacturing exports were automobile and parts, gems and
jewelry, machinery and parts, refrigerators and parts, air-conditioner and parts, computer and parts, and
food products which continue to grow albeit on a slower pace. Encouragingly, some others products, for
instance petroleum products, petrochemical products, rubber products, toiletry products, and lens, had also
shown solid growth which help compensate for some slowdowns in major export products. As expected,
integrated circuit, furniture and metal products experienced a contraction in export value.
- Export markets: the second quarter saw quite a broad base expansion across markets. Export value
to major markets grew by 20.7 percent in which exports to Japan and ASEAN 5 significantly increased by 19.8
and 42.9 percent respectively. Exports to the US also expanded by 6.2 percent. Nevertheless, exports to EU
market moderated with growth rate of 8.3 percent due partly to contagious effects from the US sub-prime
crisis. In addition, export to other markets continued to grow satisfactorily with total growth of 31.1
percent, including exports to China, Hong Kong, Australia, Middle East, Africa, and East Europe.
- In the first half of 2008, export value in US dollar terms increased substantially by 24.7
percent with export price and volume growth of 11.2 and 12.0 percent respectively. In baht terms, export
value and price increased by 17.8 and 4.9 percent respectively.
Key Export Market
---------- 2007 ---------- ------- 2008 -------
(%YOY) Year H1 Q3 Q4 Q1 Q2 Share
Major Market 10.9 2.4 17.3 12.2 20.7 16.5 52.7
US -1.3 -9.3 5.2 7.2 6.2 6.7 11.0
Japan 9.7 1.9 11.9 6.3 19.8 13.0 11.4
EU (15) 15.5 10.4 7.6 11.7 8.3 10.0 11.6
Asean (5) 19.6 8.5 41.3 21.8 42.9 32.9 18.8
Other Market 25.6 22.2 30.8 31.7 30.6 31.1 47.3
Hong Kong 19.7 23.6 39.3 46.3 34.0 39.9 5.6
Taiwan -1.5 -22.4 -5.4 -26.7 -13.3 -20.5 1.6
South Korea 11.1 5.1 12.1 13.9 12.2 13.0 1.7
Middle East 22.0 11.4 42.2 58.4 55.6 57.0 6.0
India 29.0 31.7 32.2 23.9 31.3 27.8 5.3
China 26.4 25.8 25.4 34.2 21.5 27.4 9.3
Source: MOC
- Imports slowed down. Import value in term of US dollars expanded by 29.3 percent, slightly lower
than 35.1 percent growth in the previous quarter while all import categories experienced downturn, except
raw materials and semi-finished products which expanded at similar rates registered in the previous quarter
following increased demand for export-oriented production. Import prices continued to rise by 17.7 percent
mainly due to higher oil prices. Import quantity increased by 9.9 percent, significantly dropped from 16.9
percent in the first quarter in tandem with weakened domestic investment and demand for oil import. In baht
term, import value expanded by 20.4 percent with an increase of 9.6 percent in baht price.
- Capital goods: Import value expanded by 17.3 percent, slowing down from 39.4 percent
in the previous quarter following a slowdown in domestic investment. Import quantity of capital goods grew
by 11.1 percent while import prices went up by 5.6 percent.
- Raw material and Semi-finished goods: Import value slightly accelerated from 26
percent in the previous quarter to 27.9 percent in accordance with solid export growth. Their quantity and
price increased by 14.2 and 12 percent respectively.
- Fuel and lubricant: Import value increased by 51.2 percent, moderated from 68.5
percent in the previous quarter. Import prices rose by 53.1 percent as a result of higher crude oil prices
with 70.24 percent growth in the second quarter. However, import volume decreased by 1.2 percent which was
mainly due to 8.1 percent decline in crude oil import volume following high imports of crude oil in the
first quarter.
- Consumer goods: Import value expanded by 32.6 percent while import quantity and price
rose by 26.1 and 5.2 percent respectively. Continued appreciation of Thai baht had encouraged consumer with
high purchasing power to spend in imported products. Low real deposit rate also induce big savers to spend
more.
- Import goods with high growth of import value included crude oil, machinery and parts,
electrical machinery, chemical products, rubber products, petrochemical products, iron and other steel,
jewelry and gems, fertilizers and pesticide, textile yearn and fiber, paper products, ceramics products,
household electrical appliances, medicine and pharmaceutical products and watches and parts
- For the first half of 2008, value of import in dollars term expanded by 32 percent
with 13.3 and 16.7 percent increased in quantity and price respectively. In term of baht, import value
increased by 21.7 percent while baht price rose by only 7.4 percent.
- Term of trade continued to deteriorate. In second quarter of 2008 import prices in US dollars
term increased by 17.7 percent, a faster pace than 12.5 percent increase of export prices. This was mainly
underpinned by substantial increase in oil prices which offset an increase in prices of agricultural
products as oil import has a larger proportion in total import compared with proportion of agricultural
products to total exports. The second quarter, therefore, continued to face with term of trade loss.
- Trade balance registered a surplus of 425 million US dollars (or 15,542 million baht) compared
with a deficit of 109 million US dollars (or 3,834 million baht) in the previous quarter. For the first half
of 2008, trade balance recorded a surplus of 316 million US dollars which was equivalent to 11,708 million
baht.
- Current account registered a deficit as a result of 733 million US dollars deficit in net
service income and transfer during the second quarter which was mainly due to higher number of Thai tourists
who traveled abroad during the long holidays combined with an increase in repatriation of investment income.
Accordingly, current account in the second quarter registered a deficit of 308 million US dollars (8,246
million baht). However, current account remained in surplus of 2,760 million US dollars (91,411 million
baht) for the first half of 2008.
(Continue to).../-Production side:..
-----------2007---------- ------ 2008 ------
(Percent) Total H1 Q3 Q4 Q1 Q2 H1
Total Production Capacity 74.4 73.9 73.7 76.1 76.7 72.3 74.5
Beverage 81.5 81.4 76.5 86.8 87.6 81.1 84.4
Paper 90.8 90.1 91.0 91.9 92.0 91.5 91.7
Chemical Product 95.9 90.4 101.0 101.8 92.6 95.8 94.2
Petrochemical Product 88.2 87.5 90.8 87.1 88.8 89.8 89.3
Construction Material 78.4 78.4 80.6 76.1 79.7 73.1 76.4
Automobiles and Auto Parts 72.6 68.9 75.7 76.9 78.0 76.9 77.4
Electronic Product 79.3 72.2 81.5 91.1 81.0 79.3 80.2
Export
Export 30— 60% of total output 69.6 71.4 65.9 69.7 80.7 64.5 72.6
Export >60% of total output 71.1 70.0 69.7 74.6 67.6 65.0 66.3
Source: BOT
Investment in machinery and equipment expanded by 5.2 percent. Import of capital goods rose (at
2000 prices) by 8.9 percent especially investment in electrical machinery, industrial machinery, computer
parts and metal equipment import that continuously increased. Domestic machinery sales (at 2000 prices)
increased by 2.7 percent during April to May. However, commercial car sale dropped by 5.7 percent stemmed
from concerns over rising diesel prices.
Investment in private construction grew by 1.3 percent, slightly improving from 0.4 percent in the
first quarter, contributed by the acceleration of construction in commercial building which increased by 9.8
percent. In addition, housing constructions improved to grow by 6.4 percent after contractions in the last 2
quarters, as a result of improvement of housing construction in Bangkok and vicinities particularly
condominium located close to mass transit rail routes. Low real interest rates were also favourable
factors. Meanwhile, construction of industrial plant and other projects declined by 10.8 and 14.9 percent,
respectively.
During the first half of the year, private investment grew by 5.4 percent contributed by 6.7
percent investment growth in machinery and equipment and 0.8 percent investment growth in construction,
classified into growth of commercial building construction and residential construction of 12.1 and 0.6
percent respectively. Meanwhile industrial plant construction and other construction fell by 2.5 percent and
3.1 percent respectively.
- Export growth remained buoyant following continued substantial increase in price, while export
volumes edged up slightly. In the second quarter of 2008, export value in US dollar terms expanded notably
by 26.3 percent contributed in part by strong increase of export price by 12.5 percent, accelerated from 9.9
percent rise in the previous quarter. Export volumes increased by 12.3 percent, comparable to 11.8 percent
growth in the first quarter. However, in baht terms, export value and price increased at smaller rates of
16.7 and 4.9 percent respectively as Thai baht had appreciated by 6.9 percent from the same period last year.
- Agriculture commodity: export price accelerated notably and supported a robust
expansion of export value. Export value of agricultural commodity grew by 64.2 percent, compared to 45.9
percent growth in the first quarter of 2008. Export price increased to 52.5 percent up from 26.5 percent in
the last quarter. Prices of most major agricultural export rose, including those of rice, corn, cassava and
rubber. This is in tandem with the windfall of rapid increased in global commodity prices and concern over
food crisis. Export volume increased by 7.7 percent, softened from 15.3 percent growth in the previous
quarter due to a slowdown in rice exports and a declines in cassava and corn export under the condition of
supply constraint.
Export of Agriculture
Export 2007 2008
(%YOY) Year H1 Q3 Q4 Q1 Q2 H1
Rice Value 34.2 16.9 59.4 108.1 156.0 134.7 34.2
Price 9.5 7.3 4.2 13.6 90.9 51.7 9.5
Quantity 22.7 7.7 53.1 82.7 35.3 56.1 22.7
Rubber Value 4.5 -6.4 17.8 33.6 30.5 32.1 4.5
Price 7.1 -7.2 27.0 33.8 26.9 30.1 7.1
Quantity -3.0 0.6 -7.4 0.0 2.9 1.3 -3.0
Cassava Value 23.1 -1.1 13.0 13.5 20.0 16.3 23.1
Price 24.5 40.5 55.4 58.9 61.9 60.6 24.5
Quantity 3.8 -29.7 -27.2 -29.3 -25.5 -27.8 3.8
Corn Value 48.6 296.4 -9.7 229.6 -6.6 110.8 48.6
Price -7.0 -41.4 37.9 15.0 186.3 110.3 -7.0
Quantity 22.7 395.3 -34.4 181.1 -43.5 82.6 22.7
Source: MOC
- Manufacturing products: Both export volume and price continuously increased with more broad base
expansion. Export volume of manufacturing products grew by 24.3 percent, with volume and price growth of 8.3
and 14.8 percent respectively. Main drivers of manufacturing exports were automobile and parts, gems and
jewelry, machinery and parts, refrigerators and parts, air-conditioner and parts, computer and parts, and
food products which continue to grow albeit on a slower pace. Encouragingly, some others products, for
instance petroleum products, petrochemical products, rubber products, toiletry products, and lens, had also
shown solid growth which help compensate for some slowdowns in major export products. As expected,
integrated circuit, furniture and metal products experienced a contraction in export value.
- Export markets: the second quarter saw quite a broad base expansion across markets. Export value
to major markets grew by 20.7 percent in which exports to Japan and ASEAN 5 significantly increased by 19.8
and 42.9 percent respectively. Exports to the US also expanded by 6.2 percent. Nevertheless, exports to EU
market moderated with growth rate of 8.3 percent due partly to contagious effects from the US sub-prime
crisis. In addition, export to other markets continued to grow satisfactorily with total growth of 31.1
percent, including exports to China, Hong Kong, Australia, Middle East, Africa, and East Europe.
- In the first half of 2008, export value in US dollar terms increased substantially by 24.7
percent with export price and volume growth of 11.2 and 12.0 percent respectively. In baht terms, export
value and price increased by 17.8 and 4.9 percent respectively.
Key Export Market
---------- 2007 ---------- ------- 2008 -------
(%YOY) Year H1 Q3 Q4 Q1 Q2 Share
Major Market 10.9 2.4 17.3 12.2 20.7 16.5 52.7
US -1.3 -9.3 5.2 7.2 6.2 6.7 11.0
Japan 9.7 1.9 11.9 6.3 19.8 13.0 11.4
EU (15) 15.5 10.4 7.6 11.7 8.3 10.0 11.6
Asean (5) 19.6 8.5 41.3 21.8 42.9 32.9 18.8
Other Market 25.6 22.2 30.8 31.7 30.6 31.1 47.3
Hong Kong 19.7 23.6 39.3 46.3 34.0 39.9 5.6
Taiwan -1.5 -22.4 -5.4 -26.7 -13.3 -20.5 1.6
South Korea 11.1 5.1 12.1 13.9 12.2 13.0 1.7
Middle East 22.0 11.4 42.2 58.4 55.6 57.0 6.0
India 29.0 31.7 32.2 23.9 31.3 27.8 5.3
China 26.4 25.8 25.4 34.2 21.5 27.4 9.3
Source: MOC
- Imports slowed down. Import value in term of US dollars expanded by 29.3 percent, slightly lower
than 35.1 percent growth in the previous quarter while all import categories experienced downturn, except
raw materials and semi-finished products which expanded at similar rates registered in the previous quarter
following increased demand for export-oriented production. Import prices continued to rise by 17.7 percent
mainly due to higher oil prices. Import quantity increased by 9.9 percent, significantly dropped from 16.9
percent in the first quarter in tandem with weakened domestic investment and demand for oil import. In baht
term, import value expanded by 20.4 percent with an increase of 9.6 percent in baht price.
- Capital goods: Import value expanded by 17.3 percent, slowing down from 39.4 percent
in the previous quarter following a slowdown in domestic investment. Import quantity of capital goods grew
by 11.1 percent while import prices went up by 5.6 percent.
- Raw material and Semi-finished goods: Import value slightly accelerated from 26
percent in the previous quarter to 27.9 percent in accordance with solid export growth. Their quantity and
price increased by 14.2 and 12 percent respectively.
- Fuel and lubricant: Import value increased by 51.2 percent, moderated from 68.5
percent in the previous quarter. Import prices rose by 53.1 percent as a result of higher crude oil prices
with 70.24 percent growth in the second quarter. However, import volume decreased by 1.2 percent which was
mainly due to 8.1 percent decline in crude oil import volume following high imports of crude oil in the
first quarter.
- Consumer goods: Import value expanded by 32.6 percent while import quantity and price
rose by 26.1 and 5.2 percent respectively. Continued appreciation of Thai baht had encouraged consumer with
high purchasing power to spend in imported products. Low real deposit rate also induce big savers to spend
more.
- Import goods with high growth of import value included crude oil, machinery and parts,
electrical machinery, chemical products, rubber products, petrochemical products, iron and other steel,
jewelry and gems, fertilizers and pesticide, textile yearn and fiber, paper products, ceramics products,
household electrical appliances, medicine and pharmaceutical products and watches and parts
- For the first half of 2008, value of import in dollars term expanded by 32 percent
with 13.3 and 16.7 percent increased in quantity and price respectively. In term of baht, import value
increased by 21.7 percent while baht price rose by only 7.4 percent.
- Term of trade continued to deteriorate. In second quarter of 2008 import prices in US dollars
term increased by 17.7 percent, a faster pace than 12.5 percent increase of export prices. This was mainly
underpinned by substantial increase in oil prices which offset an increase in prices of agricultural
products as oil import has a larger proportion in total import compared with proportion of agricultural
products to total exports. The second quarter, therefore, continued to face with term of trade loss.
- Trade balance registered a surplus of 425 million US dollars (or 15,542 million baht) compared
with a deficit of 109 million US dollars (or 3,834 million baht) in the previous quarter. For the first half
of 2008, trade balance recorded a surplus of 316 million US dollars which was equivalent to 11,708 million
baht.
- Current account registered a deficit as a result of 733 million US dollars deficit in net
service income and transfer during the second quarter which was mainly due to higher number of Thai tourists
who traveled abroad during the long holidays combined with an increase in repatriation of investment income.
Accordingly, current account in the second quarter registered a deficit of 308 million US dollars (8,246
million baht). However, current account remained in surplus of 2,760 million US dollars (91,411 million
baht) for the first half of 2008.
(Continue to).../-Production side:..