English | دری

Thailand sees growth rebound after devastating floods

in International Business

Thailand sees growth rebound after devastating floods

Thailand’s economy has rebounded sharply as factories boosted production recovering quickly from last year’s floods.

Gross domestic product grew 11% in the first three months of the year, compared to the previous three months, data showed.

On an annual basis the economy grew 0.3%, after shrinking 8.9% in previous quarter.

Authorities and analysts said the rebound was stronger than expected.

Thailand was hit by some of the worst flooding in decades late last year.

Companies like the Japanese car maker Honda, Western Digital and others were forced to temporarily suspend production. Exports also suffered because flooding damaged products.

However, analysts said government policies were boosting domestic demand.

“Today’s data underscored expectations that the economy’s recovery from last year’s floods is on track,” said Radhika Rao from Forecast in Singapore.

“Acceleration in investment spending due to reconstruction efforts and a sharp jump in inventories have lifted headline growth.”

The National Economic and Social Development Board (NESDB) said it now expects growth between 5.5% and 6.5% this year, which is unchanged from its forecast in February.

Source: BBC



Related Articles

Eurozone Deal On Greece Bailout

Eurozone finance ministers and the IMF have reached an agreement to release urgently needed loans to Greece in order to

Manmohan Singh Should Quit-Indian MPs Demand

India’s parliament was upset over a recent report that the country lost USD 33bn by selling coalfields cheaply. India is

Indian companies accused by US Senator of abusing H-1B visas

Senator Richard Durbin, during a Congressional hearing on immigration reform by the Senate Judiciary Committee on Monday, accused big Indian

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.