Thailand
Thailand: January border trade increased 1.84%
Thailand’s border trade edged up 1.84% year-on-year in January, with Malaysia still the biggest trade partner.
Adul Chotinisakorn, director-general of the Foreign Trade Department, said Thailand fetched 119.5 billion baht in January from all cross-border trade, including transit trade.
Transit trade consists of businesses connected with the passage of goods through a country to their destination.
Exports from Thailand represented 63.4 billion baht, down 4.34% from January last year, while imports grew 9.85% to 56.1 billion, resulting in a trade surplus of 7.33 billion baht.
Thailand’s border trade with all four neighbours contracted 0.91% in January to 95.1 billion baht, with exports making up 52.9 billion, down 3.50%, and imports worth 42.2 billion, up 2.52%.
Malaysia was the biggest partner for border trade, with two-way border trade amounting to 47.7 billion baht, down 2.52%, followed by Laos at 17.1 billion, Myanmar at 15.8 billion and Cambodia at 14.4 billion.
The department said transit trade with Singapore, Vietnam and southern China remained healthy in January, with value totalling 24.4 billion baht, up 14.2%. Exports fell 8.34% to 10.5 billion baht, while imports surged 40.4% to 13.9 billion, resulting in a trade deficit of 3.33 billion baht.
Transit trade to southern China fetched the highest value at 10.4 billion baht, followed by Vietnam at 8.36 billion and Singapore at 5.97 billion.
Mr Adul said risk factors that may affect performance of border trade and transit trade include the world’s economic uncertainties, the trade row between China and the US and the strengthening baht.
He said the department remains committed to drive overall trade throughout the year to 15% growth at 1.6 trillion baht this year. Activities to boost border trade include the government-initiated Young Entrepreneur Network Development Programme (YEN-D).
Launched in 2015 to encourage Thai entrepreneurs to invest in neighbouring countries, the YEN-D programme features familiarisation trips and special training courses for young business people in Cambodia, Laos, Myanmar, Vietnam and Thailand to better understand each other’s cultures and regulations.
To be selected, Thai entrepreneurs have to be under 45 and come from families that have businesses. Governments in other participating countries have similar criteria.
The department is also scheduled to host border trade fairs in four regions of Thailand, which have already started at Sa Kaeo during Feb 24-26.
Source: https://www.bangkokpost.com/business/news/1639266/january-border-trade-increased-1-84-