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Machinery Industry

Machinery Industry

machinery industry
Thailand’s Machinery Industry

It is well recognized that the machinery industry is a crucial supporting industry to the manufacturing sector, which plays a significant role in Thailand’s overall economy. This can be seen by the continued growth of both these industries. In 2014, the trade value of machinery and parts reached US$22.91 billion, nearly a 130% increase from 2009 levels.

Despite continued growth, developmental gaps are still apparent in the industry, as the production of highly complex and precise technological machinery is still in short supply in Thailand. This has resulted in the country being mainly reliant on importing those products. According to the Ministry of Commerce, machinery and parts was ranked 2nd in terms of highest import value. In 2014, Thailand imported machinery and parts products worth US$15.23 billion, a 107% increase from 2009.

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