BANGKOK: Thailand’s manufacturing production index unexpectedly rose 3.43% in April from a year earlier, increasing for the first time in 19 months, helped by higher exports and tourism, the industry ministry said on Thursday.
The figure compared with a forecast of a 1.1% year-on-year fall for April in a Reuters poll, and followed an annual decrease of 5.13% in March.
The output rise in April, the first monthly increase since September 2022, was also due to a low base last year, Siripen Kiatfuengfoo, deputy director general of the Office of Industrial Economics, told a news conference. “It’s good news.
It’s the first month of growth after 18 consecutive months of contraction,“ she added.
Thai factory output falls for 18th consecutive month
Factory output for the January-April period dropped 2.06% and is expected to rise between 0% to 1% for the full year, the ministry said.
Thailand received 14.33 million foreign visitors between Jan. 1 and May 26, up 38% year-on-year, with 2.8 million Chinese visitors and overall spending of 683 billion baht, according to tourism ministry data.
Thailand’s exports returned to growth in April, and at a much faster pace than analysts’ expectations, and the commerce ministry expected shipments to post a small gain in the second quarter.
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