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Thailand Industrial production April 2024

Thailand: Manufacturing production posts best reading since September 2022 in April

Manufacturing output rose 3.4% in year-on-year terms in April, which contrasted March’s 4.9% decrease. April’s result surprised market on the upside and marked the best reading since September 2022. The improvement was driven by a rebound in food production and a sharp acceleration in chemical products output. Moreover, production of automotive vehicles, and of computer and electronic products contracted at softer rates. That said, refined petroleum output lost pace.

Meanwhile, the trend improved significantly, with the annual average variation of manufacturing production coming in at minus 3.3%, up from March’s minus 4.2%. On a monthly basis, manufacturing output increased 3.5% in seasonally adjusted terms in April, rebounding from March’s 2.5% fall and marking the best result since September 2021.

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