Thai economy grew 1.6% in 2021 despite COVID-19 headwind

Strong export demand helped rally but failed to make up for big dip in 2020

Containers are processed at the port of Bangkok. The Thai economy expanded in 2021 after a contraction the previous year as a result of the COVID-19 pandemic. © Reuters

MASAYUKI YUDA, Nikkei staff writer

February 21, 2022 10:38 JST

Updated on February 21, 2022 12:51 JST

BANGKOK -- Thailand's economy expanded 1.6% in 2021, as a strong recovery in exports helped Southeast Asia's second-largest economy.

The turnaround followed a 6.2% contraction recorded in 2020 as a result of the COVID-19 pandemic, but it was too small to bring the economy back to 2019 levels.