Thailand experienced one of the fastest growths of manufacturing export among Asian
economies during the 1990s. The country had an average growth rate of manufacturing
export at approximately 20% per year. Thailand was a center of the manufacturing industry
in ASEAN countries at that time. The country produced and exported the largest value of the
manufacturing industry among ASEAN countries. The Asian Financial Crisis in 1997 had
enormous impacts on the economy of Thailand, but not much on manufacturing export. The
effect of the crisis in 1997 dropped the output of the manufacturing industry to the second
largest among the ASEAN countries. However, the manufacturing export in Thailand
continues to grow on average at 12% per year since the crisis