Thai April factory output unexpectedly rises for first time in 19 months

THAILAND’S manufacturing production index unexpectedly rose 3.43 per cent 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 (May 30).

The figure compared with a forecast of a 1.1 per cent year-on-year fall for April in a Reuters poll, and followed an annual decrease of 5.13 per cent 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.

Factory output for the January-April period dropped 2.06 per cent and is expected to rise between 0 per cent to 1 per cent for the full year, the ministry said.

Thailand received 14.33 million foreign visitors between Jan 1 and May 26, up 38 per cent year-on-year, with 2.8 million Chinese visitors and overall spending of 683 billion baht (S$25.05 billion), according to tourism ministry data.

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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. REUTERS