BANGKOK, May 30 (Xinhua) — Thailand’s industrial output rose for the first time in 19 months in April due to higher exports, tourism expansion and last year’s low comparative base, official data showed on Thursday.
The manufacturing production index (MPI) increased 3.43 percent last month from a year earlier, rebounding from a revised 4.92 percent drop in March, according to the Ministry of Industry.
The growth was attributed to higher output of air conditioners and petroleum refining, despite a major decline in electronic parts and auto production, the ministry said in a statement.
For the first four months of 2024, the index contracted 2.06 percent year on year, said Deputy Director-General of the ministry’s Office of Industrial Economics Siripen Kiatfuengfoo.
The ministry expects the MPI to range between zero percent and 1 percent this year, thanks to the gradual recovery of global trade, easing inflation, coupled with booming tourism and domestic consumption, Siripen told a news conference.
However, sluggish growth among some trading partners, a flood of imported goods and geopolitical tension are negative factors, she added.