Thailand Improves

Thailand is slowly recovering from the global downturn after experiencing its first recession in 11 years. Thailand's export market was hit hard as the demand for its goods in major markets (like the U.S., Europe and Japan) decreased. Thailand's GDP increased 3.6% in the fourth quarter from the third, which is on pace for the fastest on-quarter in 10 years.

CLSA expects Thailand's GDP to exceed 6% this year as consumption demand has recovered and private investment is increasing. Exports have also rebounded strongly, while government spending is helping push growth.