BANGKOK, 9 April 2012 – Thai exports to China in February have expanded at a positive rate for the first time in four months at 3.4% following China’s urgent stockpiling of crude oil amid soaring global gas price.
Kasikorn Research Center has reported that the Thai export growth in February was especially strong in the group of agricultural products, such as sugar. Apart from China’s measure to stock up crude oil during this period, Thai exports are also believed to be benefitting from a more cautious sugar export policy of India.
The center forecast that Thai exports to China would still expand well this year largely due to the country’s higher demand for energy products necessary for its improvement of basic infrastructure in rural areas. Another factor in the Thai export growth is the Chinese government’s tendency to issue more economic stimulus measures.