Thailand’s annual exports rose 40.9 percent in March from a year earlier and the value of $16.25 billion was the highest in 17 months, led by a rebound in electronic goods and autos as trade to major markets expanded.

Growth may be lower in coming months, the Commerce Ministry and economists said.

China has emerged as Thailand’s top market this year, overtaking the United States in a structural realignment as exporters adjust to a new reality in which U.S., Japanese and European consumers are no longer the main buyers.

Annual exports are equivalent to over 60 percent of GDP. (Reuters)