Updated  
May, 21 2012 11:54:10

Thai economy rebounds strongly from flood crisis

BANGKOK – Thailand's economy posted double-digit growth in the first quarter of 2012, rebounding from the fallout of last year's devastating floods, official data showed Monday.

Gross domestic product (GDP) grew 11 per cent in January-March from the previous quarter, when the economy had contracted 10.8 per cent, according to the National Economic and Social Development Board.

GDP rose 0.3 per cent compared with the same period in 2011.

The months-long floods last year killed hundreds of people and caused widespread damage to Thailand's industrial heartland north of Bangkok.

Investment by companies to get their plants back up and running is now helping to revive the economy, while the agriculture sector posted solid growth and consumer demand also rebounded in the first quarter, the figure showed.

At their height the floods affected 65 of the country's 77 provinces, deluged hundreds of thousands of homes and forced the closure of large industrial parks, disrupting global supply chains. AFP

Send Us Your Comments:
Name:
Your E-mail address:
Title:
 

VietNamNews may edit your comments and not all emails will be published.

Highlight

Wild peach branches disappear as demand rises Wild peach branches disappear as demand rises

It's hard to find ancient wild peach branches on sale in the northern mountainous province of Son La, due to their overexploitation by the local people.

Flower Road to be opened today Flower Road to be opened today

The Flower Road in HCM City's Ham Nghi Street will be opened to the public at 7pm today. Viet Nam News photographer Van Dat presents different images of the Flower Road, as seen through his lens.

Vietnamese consumer confidence "largely intact": Economist Vietnamese consumer confidence "largely intact": Economist

Vietnamese consumers started 2015 with their confidence broadly unchanged after a tumultuous 2014, ANZ Bank Economist Glenn Maguire said in a recent report.

Viet Nam ranks 10th worldwide in remittances Viet Nam ranks 10th worldwide in remittances

Viet Nam was among the top 10 countries in the world with the largest amount of remittances from abroad last year, with around US$12 billion, according to the Western Union company, which handles money transfers worldwide.

Viet Nam sit at 137th in world football rankings Viet Nam sit at 137th in world football rankings

Viet Nam jumped up four steps in international football rankings, according to FIFA's latest list.