Thailand's gross domestic product for the fourth quarter of 2011 plunged nine per cent year-on-year on the back of the country's worst flooding in 50 years, the National Economic and Social Development Board (NESDB) reported on Monday.
The great flood in 2011 had caused more than 328.15 billion baht in damage to the economy, according to the NESDB. (Photo by Phongthai Wattanavanitvut)
The great flood had caused more than 328.15 billion baht in damage to the economy.
GDP for the entire 2011 year rose only 0.1 per cent year-on-year.
The economic growth outlook for this year stands at between 5.5 and 6.5 per cent with the support of domestic consumption and the recovering manufacturing sector.
The country's current account is expected to be in surplus at about 1.2 per cent of GDP, according to the NESDB.