Thailand’s industrial confidence soared for the sixth straight month in November, boosted by recovering domestic demand and foreign tourist arrivals.
According to the Federation of Thai Industries (FTI), the Thai Industry Sentiment Index (TISI) edged up to 93.5 in November from 93.1 the previous month.
The kingdom reported over 10 million international visitors last week, a figure that is predicted by the FTI to more than double next year.
FTI Chairman Kriengkrai Thiennukul highlighted other positive industry developments, such as higher vehicle and electronic production due to improved semiconductor supply. He added that declining freight rates benefited exporters.
On the downside, Kriengkrai noted that the industry index is expected to drop within the next three months due to concerns over increased production costs, particularly rising energy prices.
As one of the main drivers of Thailand’s economy, exports were hit by weakening global demand while appreciation of the Thai baht lowered trade competitiveness. (NNT)
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