Bangkok (VNA) - Thailand's economic signals in April remained positive, with the automotive industry showing signs of improvement as new domestic passenger car registrations increased for the first time in 15 months.
According to Pornchai Thiraveja, Director-General of the Fiscal Policy Office (FPO), the Thai economy last month was supported by continued export growth for the 10th consecutive month and sustained private consumption expansion.
New passenger car registrations grew by 2.6% year-on-year in April, compared with a contraction of 3.1% from the previous month. For the first quarter this year, registrations shrank by 12.2% year-on-year.
New motorcycle registrations increased by 4.1% in April, continuing from a 1.1% rise month-on-month. For the first quarter, new motorcycle registrations rose by 1.8% year-on-year.
Meanwhile, the real income of farmers contracted by 5% in April, following a 2.4% increase the previous month. For the first quarter, farmers' real income rose by 1.8%. In 2024, the figure grew by 5.7%.
The Consumer Confidence Index in April dropped to 55.4 from 56.7 the previous month, attributed to a slow economic recovery, a high cost of living and severe trade conflicts.
Private construction investment, reflected through real estate transaction taxes in April, fell by 10.1% year-on-year.
The export value of Thai products increased in April on an annual basis. The total export value in April tallied 25.6 billion USD, an increase of 10.2% year-on-year and the 10th consecutive month of growth.
In the tourism sector, the number of foreign tourists in April dropped by 7.6% year-on-year, following an 8.8% decline in March.
According to Pornchai, Thailand's economic stability remains sound, as indicated by a headline inflation rate in April of minus 0.22%, while core inflation was 0.98%./.
