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24 Dec 2010

International Economy

Healthy Economic Growth in China Boosting Thai Exports in 2011 (Business Brief No.3014)

While many developed countries such as the USA and those in Europe are still engaged in devising solutions for their domestic economic problems, the Chinese economy remains robust. China's economic indices for production and consumption in November 2010 rose markedly, with better performance than expected. It is expected that Chinese economic growth overall in 2010 will likely be 10.5 percent. This implies that there will be satisfactory momentum in Thai exports to China.
Thai exports to China in November 2010 recently recorded a new monthly high, at USD2.0117 billion, against the relatively high USD1.9004 billion of October. Imports also showed record-breaking value at USD2.3736 billion. As a result, the Thai-Chinese trade value in November 2010 was as high as USD4.3853 billion, and China will likely be Thailand's top export market continuously into 2011.

Nevertheless, Chinese economic overheating may decelerate because the Chinese government may launch measures to tighten liquidity in the future to maintain their economic stability while reducing the possibility of a dramatic deceleration. It is expected that Chinese economic growth in 2011 will likely reach 9 percent, reflecting a trend of satisfactory economic growth in 2011 and a healthier financial status than other countries. Thus, the Thai export value to China in 2011 will likely grow 10-15 percent, worth around USD20 billion as achieved in 2010, which would help boost our overall global export value to USD200 billion for the first time in 2011.

International Economy