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Thailand: Border trade up 6.1% in nine months
Border and transit trade between Thailand and neighbouring countries grew by 6.1% year-on-year in the first nine months of 2018, with Malaysia ranked as the top bilateral trading country, says the Foreign Trade Department.
Thailand’s border and transit trade value stood at a combined 1 trillion baht from January to September, said Adul Chotinisakorn, director-general of the Foreign Trade Department.
Combined export value was 585 billion baht, down 0.3% year-on-year, while combined imports grew by 15.8% year-on-year to 452 billion, resulting in a trade surplus of 133 billion baht.
Border trade was valued at 834.4 billion baht, up 4.1% year-on-year. Of the amount, exports were valued at 486 billion, down 0.8% year-on-year, while imports were valued at 348.4 billion, up 11.8% year-on-year.
Transit trade was valued at 202.5 billion baht, up 15.3% year-on-year. Exports were valued at 98.8 billion, up 2.2%, while imports were valued at 103.7 billion, up 31.5% year-on-year.
Malaysia continued to be Thailand’s top trading partner for border and transit trade.
Bilateral trade was valued at 426.2 billion baht in the first nine months, up 1.4% year-on-year. Of the amount, 221.4 billion baht was attributed to exports and 204.8 billion was credited to imports.
Laos ranked second with bilateral trade value of 158.7 billion, up 5% year-on-year. Of the amount, exports were valued at 96.85 billion baht and imports at 61.9 billion.
Myanmar came in third, with bilateral trade value of 143.9 billion baht, up 5% year-on-year. Of the amount, 79.8 billion baht was from exports and 64.1 billion from imports.
Thai exports to Malaysia ebbed because of lower export volume for rubber, rubber products, palm oil and coconuts, Mr Adul said.
Thailand’s border trade with Malaysia was also affected by lower Chinese tourist arrivals in southern provinces, he said.
Border and transit trade with Myanmar has been hit by natural disasters, making logistics difficult, Mr Adul said.
The kyat’s depreciation also contributed to slowing bilateral trade between Myanmar and Thailand, he said.
Source: https://www.bangkokpost.com/business/news/1564682/border-trade-up-6-1-in-nine-months