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Economy

Thai GDP shrinks 1.8% in Q1, its sharpest decline since 2011 flood

Government tries to kick-start spending as toursim and trade continue to drag

Shoppers check out shoes at a mall in Bangkok on May 17: The government is gradually easing lockdown measures in hopes that consumers will restart the econmomy. (Photo by Akira Kodaka)

BANGKOK -- Thailand recorded its sharpest economic contraction in over eight years, with gross domestic product falling 1.8% on the year in January to March, the country's economic planning agency said Monday.

The kingdom has re-opened shopping malls closed for nearly two months due to the coronavirus outbreak as it tries to pick itself up off the floor.

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