BANGKOK – Border trade between Malaysia and Thailand in the first 10 months of the year fell 14.67% to 198.65 billion baht (RM26.83 billion) as border closures to prevent the spread of the Covid-19 pandemic interrupted trade activities between the two countries.
According to Thailand’s Foreign Trade Department director-general, Keerati Rushchano, his country’s cross-border trade with neighbouring countries – Malaysia, Myanmar, Laos and Cambodia – from January to October this year stood at 623.22 billion baht, slipping 9.87% year-on-year (y-o-y).
Thailand’s exports to the four neighbouring countries declined 8.94% to 365.25 billion baht while imports fell 11.55% to 258.44 billion baht in that period.
“Malaysia is Thailand’s biggest border trade partner. Exports to Malaysia fell 8.33% to 97.54 billion baht while imports dropped 20.21% to 101.11 billion baht, resulting in a trade deficit of 3.57 billion baht,” he said in a statement today.
Keerati said Thailand’s cross-border trade including transit trade stood at 1.08 trillion baht, declining 4.11% y-o-y in the first 10 months.
He said the export value dropped 4.32% to 626.40 billion baht while import value fell 3.81% to 455.18 billion baht, resulting in a trade surplus of 171.22 billion baht.
Meanwhile, Keerati said Thailand’s transit trade with Singapore, Vietnam, and southern China rose 5.04% to 457.91 billion in the first 10 months of this year.
As of November 26, Thailand has opened 37 of its 97 border checkpoints. – Bernama, December 9, 2020
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