Thailand’s economy sees biggest second quarter contraction since Asian financial crisis

Thailand’s economy saw its biggest annual contraction in 22 years and a record quarterly fall in the April-June period, as the coronavirus pandemic and restriction measures hit tourism, exports and domestic activity, prompting an outlook downgrade.Southeast Asia’s second-largest economy, which is heavily reliant on tourism and exports, shrank 12.2 per cent in the second quarter from a year earlier, the worst contraction since the Asian financial crisis in 1998, data from the state planning…

from South China Morning Post https://www.scmp.com/news/asia/southeast-asia/article/3097629/thailands-economy-sees-biggest-second-quarter-contraction