Thailand's Industrial Output Drops Amid Slowing Economy
(MENAFN) Thailand’s industrial output continued its downward trend in March, marking an eighth straight month of decline. The drop was primarily due to weaker petroleum refining and automotive production, amid a slowing economy and high household debt, as reported by official data on Wednesday.
The Manufacturing Production Index (MPI) fell 0.66% year-on-year in March, showing a less severe decline compared to February’s revised 3.92% drop, making it the smallest decrease in this period, according to the Ministry of Industry.
Despite the overall decline, the sector saw support from various economic measures, including relaxed housing loan rules, cash stimulus packages, interest rate cuts, a rise in exports, and falling oil prices, as noted by Passakorn Chairat, Director-General of the Ministry’s Office of Industrial Economics.
For the first quarter of 2025, the MPI declined 1.86% compared to the same period last year, a smaller drop than the 2.81% decrease seen in 2024. Passakorn added that both domestic and global factors, such as a reduction in private sector investments and concerns over U.S. tariff policies, will continue to be monitored closely in April.
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