Reference
·Primary source
Thai factory closures (2024)
~2,000 factories
Approximately 2,000 Thai factories closed during 2024 per Federation of Thai Industries (FTI) and Department of Industrial Works tracking, with apparel, footwear, leather goods, ceramics, and household plastics among the most affected sub-sectors. FTI and the Ministry of Commerce have cited Chinese cross-border e-commerce (Shein, Temu, and direct-from-factory consignees) as a material contributor to demand displacement, alongside structural cost gaps with Vietnam and Indonesia. The Ministry of Labour estimates roughly 50,000-70,000 jobs displaced across the affected facilities.
Figure in context
Approximately 2,000 Thai factories closed during 2024 per Federation of Thai Industries (FTI) and Department of Industrial Works tracking, with apparel, footwear, leather goods, ceramics, and household plastics among the most affected sub-sectors. FTI and the Ministry of Commerce have cited Chinese cross-border e-commerce (Shein, Temu, and direct-from-factory consignees) as a material contributor to demand displacement, alongside structural cost gaps with Vietnam and Indonesia. The Ministry of Labour estimates roughly 50,000-70,000 jobs displaced across the affected facilities.
Approximately 2,000 Thai factories closed during 2024 per Federation of Thai Industries (FTI) and Department of Industrial Works tracking, with apparel, footwear, leather goods, ceramics, and household plastics among the most affected sub-sectors. FTI and the Ministry of Commerce have cited Chinese cross-border e-commerce (Shein, Temu, and direct-from-factory consignees) as a material contributor to demand displacement, alongside structural cost gaps with Vietnam and Indonesia. The Ministry of Labour estimates roughly 50,000-70,000 jobs displaced across the affected facilities.
Time scope
FY2024
Source basis
Primary source
Interpretation notes
What this tells you
Approximately 2,000 Thai factories closed during 2024 per Federation of Thai Industries (FTI) and Department of Industrial Works tracking, with apparel, footwear, leather goods, ceramics, and household plastics among the most affected sub-sectors. FTI and the Ministry of Commerce have cited Chinese cross-border e-commerce (Shein, Temu, and direct-from-factory consignees) as a material contributor to demand displacement, alongside structural cost gaps with Vietnam and Indonesia. The Ministry of Labour estimates roughly 50,000-70,000 jobs displaced across the affected facilities.
What not to do with it
Closure tally combines fully shuttered factories with those filing factory-licence cancellations. Some are partial-line shutdowns rather than total facility closures.
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