Thailand Floods Cut GDP by 0.11 Percent, Center Says
Thailand’s recent floods from September 16 to October 4 damaged 1.6 million rai of farmland and disrupted dozens of factories, while tourism losses were modest. The University of the Thai Chamber of Commerce estimates the economic toll at 17–30 billion baht, cutting GDP by 0.09–0.15 percent. Business groups called for swift government aid to boost spending, help workers, and compensate farmers.
The center said the floods affected 1.6 million rai of agricultural land, with rice fields suffering the most damage at 1.33 million rai. One industrial estate was inundated, impacting 34 factories, two of which are automobile plants that temporarily stopped production. The service sector, especially tourism, experienced only a slight effect, with an estimated loss of 12,000–24,000 foreign tourists and a revenue decline of 575–1,150 million baht over the 11‑day period.
The forecast outlined three scenarios: a base case predicting 22.5 billion baht in damages and a 0.11 percent dip in GDP; a better case with 17 billion baht in losses and a 0.09 percent GDP drop; and a worse case with 29.5 billion baht in damages and a 0.15 percent GDP reduction. The hardest‑hit area was Bangkok, accounting for 10.083 billion baht, followed by the eastern region at 5.965 billion baht, the Bangkok metropolitan perimeter at 3.9 billion baht, central region at 1.981 billion baht, the north at 514 million baht, and the northeast at 97 million baht.
Overall, the flood is expected to cost the economy between 17 billion and 30 billion baht, shaving 0.09–0.15 percent off GDP. Private‑sector representatives urged the government to boost post‑flood purchasing power in the service sector, provide aid for daily‑wage and informal workers, resolve supply‑chain bottlenecks in the east, and quickly assess damage to deliver relief payments to farmers. They warned that, with many areas still underwater, the actual damage could exceed current estimates.
