Foreign tourists visit Wat Pho, one of Bangkok's most popular attractions. Strong tourism activity in April was among the positive economic factors helping businesses cope with the impact of the Middle East conflicts. (Photo: Apichart Jinakul)
The Thai Industries Sentiment Index (TISI) continued to fall in April to 85.3 points, down from 88.6 in March, attributed to the impact of the prolonged US-Israeli war with Iran.Pimjai Leeissaranukul, chairwoman of the Federation of Thai Industries (FTI), said the dip was due to concerns over spikes in oil and raw material prices caused by the Middle East conflict, as well as worries about the government's slow budget disbursement.
Crude oil prices rose to US$120 per barrel in April, causing diesel prices to surge to 45.32 baht per litre, representing a 33.2% month-on-month increase.
Raw material costs across several industries continued to rise, particularly for plastic resins, packaging and construction materials, driven by higher energy prices, transport expenses and logistics costs, negatively affecting the profitability of business operators.
Mrs Pimjai said freight rates on major trade routes also increased, especially on the US West Coast route, which rose by 5.7% month-on-month.
