Reported 8 months ago
The industrial sector in Thailand is facing a crisis due to rapid technological advancements, increased competition from China, and rising daily minimum wages. The closure of 1,700 factories in Thailand from early last year to the first quarter of this year, including those of Japanese automakers such as Subaru and Suzuki, poses challenges for related industries and suppliers. Concerns are raised about a potential increase in factory closures and structural flaws in the Thai manufacturing sector, as indicated by statistics showing a decline in the country's industrial production index from December 2022 to March 2023.
Source: YAHOO