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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

Thai economy to grow 4% in 2021 following 6.5% decline in 2020

The World Bank is now expecting the Thai economy to see 4% growth this year, and a 4.7% growth in 2022, despite current challenges from the new wave of COVID-19 infections.

Olivier Languepin

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Crowded downtown area in Bangkok

The World Bank now expects that the Thai economy to expand by 4 per cent in 2021, according to the latest World Bank Thailand Economic Monitor report “Restoring Incomes, Recovering Jobs” released on Wednesday (Jan 20).

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Banking

BoT sees mild impact of new COVID-19 wave on the economy

The Bank of Thailand (BoT) does not see the new wave of COVID-19 infections as having as much of an impact on the economy as the first wave, as fewer businesses have had to be suspended.

National News Bureau of Thailand

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BANGKOK (NNT) – Despite a new and wider wave of COVID-19 infections in the country, the Bank of Thailand (BoT) has assessed that the economic impact of the situation will not be as severe as the first wave as the effects of the virus are not as pronounced, and public health preparations, including plans for vaccination, are in place.

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Economics

COVID-19 brings first consumer confidence drop in 3 months

Consumer confidence in December 2020 was measured at 50.1 points, down from 52.4 the previous month. Economic confidence was also down to 43.5 from 45.6 points.

National News Bureau of Thailand

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BANGKOK (NNT) – Concerns linked to the new wave of COVID-19 infections has weighed on both daily life and business, resulting in the first drop in the Consumer Confidence Index in 3 months.

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