Thailand Office of Industrial Economics: Iran War Would Severely Impact Six Major Thai Industries
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Golden Ten Data reported on March 21 that Thailand's Office of Industrial Economics (OIE) warned that if tensions in the Middle East push crude oil prices up to $100-105 per barrel, Thailand's industrial GDP could shrink by 10-12 billion baht, accounting for about 0.15% of industrial GDP. The industries expected to be most affected are energy-intensive sectors, including cement and concrete, glass and flat glass, ceramics and tiles, natural gas and oil, textiles and apparel, pulp and paper. In contrast, Thailand's major high-value industries, such as electronics, gems and jewelry, hard disk drives, electrical appliances, and automobile manufacturing, have lower energy intensity, so their overall impact is expected to be more limited.
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