Thailand’s border trade maintains growth momentum in 2024

FRIDAY, NOVEMBER 01, 2024

Thailand's border and cross-border trade continued its upward trajectory in September, posting a 1.7% year-on-year growth, according to the Department of Foreign Trade.

This positive trend has resulted in a 6.5% expansion over the first nine months of the year, with a total trade value reaching 1.3 trillion baht.

Total trade in September was valued at 148.5 billion baht. Exports increased by 1.7% to 85.5 billion baht, while imports rose by 7.7% to 62.9 billion baht.

The first nine months of 2024 witnessed total trade valued at 1.37 trillion baht. Exports grew by 5.2% to 795 billion baht, while imports surged by 8.3% to 579 billion baht.

Thailand’s border trade maintains growth momentum in 2024

The demand for rubber and rubber products remains robust in the global market, driving significant growth in Thailand’s exports of these items. Key export markets include China, Japan, Malaysia, the US, and India.

However, severe flooding in Laos has disrupted the Mohan checkpoint, leading to a decline in border exports to Laos and cross-border exports to China, particularly for fresh fruit products like mangosteen and durian.

Noppadol Kanthamas, deputy director-general of the Department of Foreign Trade, emphasised the importance of trade facilitation in boosting border and cross-border trade. By streamlining processes and reducing trade costs, the department aims to support businesses and contribute to the country’s economic growth.

Thailand’s border trade maintains growth momentum in 2024

Cross-border trade with Malaysia reached 25.5 billion baht (+8.8%), followed by Laos 22.0 billion baht (+2.8%), Myanmar 15.4 billion baht (-13.0%), and Cambodia 14.2 billion baht (+7.9%).

Trade via a border country with China amounted to 39.2 billion baht (-5.5%), Singapore at 9.2 billion baht (+0.6%), and Vietnam at 5.8 billion baht.

The Department of Foreign Trade remains committed to addressing trade barriers and promoting trade facilitation to sustain the positive momentum in Thailand’s border and cross-border trade, Noppadol said.