Domestic consumption and investments in China have expanded steadily, thanks to the government's stimuli. This has helped slow the contraction of Thai exports to China in April to 13 percent (YoY), against the 34 percent contraction in 1Q09 (YoY) and the contraction of 14 percent in March (YoY). Thailand's exports to China in April grew 3 months in succession (MoM) since February as a consequence of improvements in many Chinese industries, e.g., automobiles, electrical appliances and electronics, including construction sector which have received a massive boost from the economic stimuli, has seen strong demand for imports of Thai primary and intermediate goods in the same supply chain that depend highly on China's industrial production; so, these Thai exports to China also improved.
Over the remainder of this year, it is expected that Thai exports to China should improve, thanks to the Chinese authorities who are steadily launching stimuli to help domestic consumption and investment. The latest measure has been the expansion of subsidies to consumers to buy new cars and home appliances to kickstart the automobile, electrical appliance and electronics industries.
Thailand's exports to China improved in April and are expected to carry on healthily throughout the remainder of this year; they include computers, equipment and parts; chemical products; rubber; plastic pellets; rubber and tapioca products. Thailand's exports to Asian countries such as South Korea and India are also improving. There was a positive signal in April because the consumption and investment in these two countries were boosted by their governments' monetary and fiscal policies. It is expected that Thailand's exports to Asian countries that are improving such as China, South Korea and India, will be able to offset the export contraction to G3 countries – the USA, EU and Japan – which are likely to remain static over the remainder of this year.
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