BANGKOK- Thai industrial sentiment rose to its highest level in nearly two years in February due to lower interest rates, government stimulus measures and tourism, the Federation of Thai Industries said on Wednesday.
A government credit guarantee measure to support pick-up truck purchases was also positive and would help the auto industry, the group said.
“The credit guarantee should generate at least 100,000 new auto purchases, bringing back production and employment” said federation chairman KriengkraiThiennukul.
Thailand’s industrial index rose in February for a second consecutive month, reaching 93.4 from 91.6 in January to post its highest reading since June 2023.
The group was also preparing to meet Prime Minister Paetongtarn Shinawatra on Thursday to discuss ways to approach the policies of US President Donald Trump.
“We’re on the radar,” said Kriengkrai, noting Thailand’s $35.4 billion trade surplus with the US last year was the 11th largest bilateral trade surplus with Washington.
The United States was Thailand’s largest export market in 2024, according to its commerce ministry, accounting for 18.3 percent of total shipments, or $54.96 billion.
Thailand’s government wants to lift economic growth above its 3 percent target this year and is confident a strong first half will be followed by momentum from the next phase of its signature stimulus programme and measures worth 150 billion baht ($4.4 billion), officials said on Monday.
Those stimulus measures, including the next stage of its “digital wallet” scheme, will be implemented by the end of the third quarter.
The government is pinning its hopes on the flagship 450 billion baht ($13.3 billion) “digital wallet” scheme, which transfers 10,000 baht ($300) to an estimated 45 million people, to jumpstart an economy that has struggled since the pandemic.
