The value of Thai exports to China during September reached USD2.967 billion, growing 56.3 percent YoY. This relatively high growth has helped boost overall Thai exports to China in 3Q11 to as high as 62.9 percent YoY, due largely to the strong performance of the Chinese economy in 3Q11, maintaining satisfactory growth of 9.1 percent YoY, despite decelerating from 9.5 percent growth in 2Q11, and 9.7 percent in 1Q11.
Nevertheless, Chinese economic performance that will likely soften, coupled with a contraction in Thai agricultural and industrial sectors due to flooding across the country, will also be challenges to Thai exporters over the reminder of this year. As a result, overall Thai exports to China in 2011 are expected to weaken to 27-30 percent growth, against 33.2 percent in 2010. Meanwhile, it is possible that China will likely become our key export market toward bolstering Thai export growth in 2011.