Border trade drops 2.97 per cent in first 11 months of year
Border trade in the first 11 months of 2019 fell 2.94 per cent year on year to Bt1.23 trillion, the Department of Foreign Trade under the Commerce Ministry revealed.
Keerati Rushchano, director-general of the department, said that Malaysia remained Thailand’s top trade partner among border countries with Bt476 billion, down 8.76 per cent, followed by Laos Bt181 billion, Myanmar Bt180 billion and Cambodia Bt146 billion while border trade with the southern province of China was worth Bt118 billion -- up 25.31 per cent -- followed by Singapore Bt67 billion and Vietnam Bt60 billion.
The lower border trade was attributed to the baht’s appreciation, the global economic slowdown, and the trade war between the US and China.
Trade with Malaysia has decreased constantly due to fall in exports of rubber products and computers, exports of diesel, car and parts to Laos declined, while exports of cattle products, diesel oil products, non-alcoholic beverages, fabric and threads to Myanmar decreased.
Meanwhile, exports to South China grew 25.31 per cent. The most favourable products were fresh fruit and vegetables, computer parts and dried longan. The trade situation with Singapore worsened due to a decrease in the export of combustion machines, computers and circuits while exports of fresh fruit and vegetables, non-alcoholic drinks and dried longan to Vietnam declined.
