Thailand: Border target out of reach this year

• Nov 27, 2018

Thailand’s overall border trade is likely to miss the government’s 15% growth target thanks to the impact of heavy floods in Laos and Myanmar, the weakness of the Burmese kyat, and the deepening trade row between the US and China. 
Adul Chotinisakorn, director-general of the Foreign Trade Department, said border trade, including transit trade, is expected to fetch about 1.4 trillion baht for the whole year, up 7.7% from 1.32 trillion baht last year. 
The Commerce Ministry set a growth target of 15% to 1.5 trillion baht for this year’s border trade. 
Transit trade comprises businesses connected with the passage of goods through a country to their destination. 
The department reported the overall cross-border trade in the first 10 months totalled 1.15 trillion baht, up 6.04% from the same period last year. Of the total, border exports represented 648 billion baht, up 0.11% year-on-year and border imports worth 507 billion baht, up 14.7%. 
Thailand’s border trade with all four neighbours rose 4% for the period to 932 trillion baht, with exports making 540.6 billion baht, down 0.33% and imports worth 391 billion, up 10.6%. 
Malaysia was the biggest partner for border trade, accounting for 51.1% of the total, followed by Laos (19%), Myanmar (17.2%) and Cambodia (12.7%). 
Thailand’s border trade with Malaysia totalled 476 billion baht, up 0.9%, with Laos, up 4.93% to 177 billion, Myanmar up 5.23% to 160 billion, and Cambodia up by 14.9% to 118 billion. 
The department reported transit trade with Singapore, Vietnam and southern China rose healthily, with values totalling 224 billion baht, up 15.5% in the first 10 months. Exports were up 2.33% to 108 billion baht, while imports were worth a total of 116 billion, up 31.1%. 
Transit trade to southern China fetched the highest value, worth 83.8 billion baht, up 22.8%, followed by that with Singapore, worth 74.9 billion, up 21.4%, with Vietnam worth 65.3 billion, up 1.97%. 
“Based on the 10-month figures, it is highly likely Thailand’s border trade will fetch 1.4 trillion baht this year, averaging 100 billion baht per month,” Mr Adul said. 
In a related development, he said to promote border trade during the remainder of this year, the department plans to organise a number of activities including trade fairs, a showcase of agricultural innovation, and joint meetings with neighbouring countries for strategic partnership. 

Source: https://www.bangkokpost.com/business/news/1582902/border-target-out-of-reach-this-year