Thailand’s economy still recovering from devastating floods

Thailand’s economy still recovering from devastating floods

April, 2012
Bandid Nijathaworn
Thailand is emerging from one of the worst floods in history. The floods, which struck in the second half of last year, damaged key industries across the country, including agriculture and manufacturing, and brought on a sharp drop in output, with GDP growth for the fourth quarter of 2011 dropping to negative 9 per cent. Such a large drop in output reduced Thailand’s annual GDP growth to 0.1 per cent, making last year one of its poorest for economic growth.