Thailand Industrial MarketView Q4 2018
24 Apr 2019
Strong demand for logistics property; demand for SILP and RBF recovering
In Q4 2018, exports to all major markets grew by 1.8% Y-o-Y. The Manufacturing Production Index (MPI) also increased by 2.4% Y-o-Y. The Thai automotive industry saw an expansion in total car production of 10.3% Y-o-Y. The figures given by the BOT (Bank of Thailand) for FDI in the manufacturing sector in 2018 increased by 130% Y-o-Y to USD 5,397 million compared with FDI in 2017.
There was a significant increase in the demand for Serviced Industrial Land Plots (SILPs) in Q4 2018, as SILP sales by major developers, excluding Rojana, increased by 49.5% Y-o-Y and 862% Q-o-Q, with a total of 1,000 rai (395 acres or 160 hectares) sold. However, the total SILP sales in 2018 were 1,410 rai (557 acres or 226 hectares), decreasing by 20% Y-o-Y compared to 1,766 rai (698 acres or 283 hectares) in 2017. Major developers reported that there was demand from Chinese manufacturers who were looking to relocate to Thailand due to the on-going US-China trade war.
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