Thailand’s Industrial Production Climbs in May
(MENAFN) Thailand's industrial output saw continued growth in May, driven by a robust expansion in automotive manufacturing, rising export demand, and the impact of government-backed economic stimulus, according to data released on Monday.
The country's Manufacturing Production Index (MPI) grew by 1.88% year-on-year in May, slightly lower than the revised 1.91% increase recorded in April, as reported by the Ministry of Industry.
A key factor behind the growth was a significant 22.9% surge in industrial exports compared to the same month last year. This jump was largely attributed to an uptick in shipments to the United States, as exporters rushed to send goods ahead of anticipated tariff hikes, explained Passakorn Chairat, Director-General of the Ministry’s Office of Industrial Economics.
Government stimulus measures, including debt relief programs, cash handouts, and a rate cut by the central bank, also played a crucial role in bolstering the economy, Passakorn added during a press briefing.
However, weak private consumption, primarily due to high household debt, has caused consumers to exercise caution, limiting spending and slowing the overall sales of industrial goods, Passakorn noted.
Looking at the first five months of 2025, the MPI showed a slight decline of 0.29% compared to the same period in 2024. Passakorn expressed optimism for future performance, expecting a recovery driven mainly by a rebound in the automotive sector.
Earlier in the month, the ministry revised its MPI growth forecast for 2025, slashing it to a modest range of 0% to 1%, down from a previous prediction of 1.5% to 2.5%.
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