Thailand’s PMI April 2025

According to the latest report by by S&P Global Market Intelligence, the Purchasing Manager’s Index (PMI) for Thailand’s manufacturing sector reached 49.5 in March 2025, below the 50-point threshold that separates growth from contraction.

Export orders declined for the twentieth consecutive month, particularly in key markets such as China and Europe. At the same time, domestic demand showed limited momentum, with consumer spending remaining subdued.

In sector-specific developments, the automotive industry saw a decline in overall vehicle production, but strong growth in electric vehicles helped offset some of the weakness. The electronics sector faced a drop in domestic chip output, yet exports rose due to recovering global demand. Plastic exports increased ahead of anticipated tariffs, although environmental regulations may limit future growth. Refinery margins were squeezed by weak local fuel demand and rising oil supply.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2024.