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Economy

Thailand GDP shrinks at fastest pace in over 2 decades

Economy contracts 6.1% in 2020 due to lack of tourists and exports

People shop for street food in Chinatown in Bangkok amid the pandemic on Jan. 6.   © Reuters

BANGKOK -- Thailand's economy contracted at its fastest pace in more than two decades, reflecting a lack of tourists and exports due to COVID-19, according to data released on Monday by the government's economic planning agency.

Real gross domestic product shrank 6.1% in 2020 compared with the previous year, according to the Office of the National Economic and Social Development Council.

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