Thailand’s industrial output declined by 5.1% in 2023 as a result of the slow domestic economy recovery, trade partner slowdown, and high household debt. Despite this, the export of industrial goods continued to grow. These factors led to a contraction in the country’s industrial output for the year. The article was originally published with the title “Thailand’s Industrial Output Contracted by 5.1% In 2023” and provides insight into the economic challenges faced by Thailand’s industrial sector during that year.
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