The National Economic and Social Development Board (NESDB) has revealed that last year’s devastating flood has pulled down the Gross Domestic Product (GDP) last year. According to the NESDB, the GDP in the fourth quarter of last year dropped by 9% compared to a 3.7% rise in the third quarter.
The economy suffered a 328 billion baht loss during the last quarter alone. The overall GDP last year grew by only 0.1% as a result of the massive flood. As for the the GDP growth this year, the NESDB expects a 5.5-6.5% growth on the back of domestic consumption and a full recovery of the real sector. Read More
The Board of Investment (BOI) has revealed that the Foreign Direct Investment (FDI) in January this year increased by 60% year-on-year, standing at 25 billion baht in value.
In January, foreigners requested investment promotions for 80 projects, a 19% increase year-on-year, worth 25 billion baht altogether; forty-three of which were for the expansion of the existing businesses in Thailand; while the other 37 were for new ones. The increase reflected foreigners’ confidence in Thailand after it was hit by the flood.
According to the BOI, four most popular industries are in the fields of: (1) metal, machinery and transportation, (2) electronic and electrical appliances, (3) chemical, paper and plastics, and (4) infrastructures.