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

Teacher's long fight for justice pays off Teacher's long fight for justice pays off

Nguyen Than spent years trying to prove the innocence of his former student, wrongfully convicted on a murder charge 18 years ago.

Passion motivates circus artists to take risks Passion motivates circus artists to take risks

The circus has always been about performers attempting precarious and daring acts in exchange for the intangible reward of the roar of the crowd.

New flowers grown for Tet New flowers grown for Tet

Farmers in the Cuu Long (Mekong) Delta will offer new varieties of flowers for the upcoming Tet (Lunar New Year) holiday, which falls on February 8 this year.

VN strives to reform customs ahead of FTAs VN strives to reform customs ahead of FTAs

The World Trade Organisation's Trade Facilitation Agreement (TFA) would boost customs reforms to facilitate trade across borders in line with international standards, an official has said.