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Thai GDP shrank 9% in Q4 2011

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.

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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.

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Economics

Asia’s slow rate of vaccination is a thorn in the region’s economic recovery

Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving average. The Philippines and Malaysia are not far off their daily infection peaks reached in the second quarter of 2021.

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Last week was tough for the Asia-Pacific region. Many countries responded to stubbornly elevated daily infections by extending or tightening social distancing measures.

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Economics

World Bank lowers Thai GDP growth outlook to 2.2%

In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.

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BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.

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