Thailand's border trade with Malaysia tops the list in 2018

BANGKOK, October 26 (TNA) - The Ministry of Commerce says that Thailand's border trade and border transit trade value is likely to reach 1.5 trillion baht totally in 2018, with the trade value with neighboring Malaysia having maintained on top of the list so far. Speaking to journalists on October 25, Adul Chotinisakorn, Director-General of the ministry's Department of Foreign Trade, pointed out that the total value of Thailand's border trade and border transit trade during the first nine months of this year stood at about 1.04 trillion baht, a 6.14 per cent year-on-year increase, with the Thai side gaining a trade surplus of about 132.72 billion baht. Adul mentioned his department has, thus, projected that Thailand's total value of border trade and border transit trade should reach about 1.5 trillion baht this year, a 15 per cent year-on-year increase. According to the senior official, Thailand's border trade with Malaysia has remained on top of the list during the first nine months of this year, totally worth 426.19 billion baht or a 1.36 per cent year-on-year increase, followed by the border trade with Lao PDR, Myanmar and Cambodia, totally worth about 158.73 billion baht, 143.88 billion baht and 105.55 billion baht respectively. "Although Thailand's border trade with Malaysia now faces a slowdown due to a drop in exports of natural rubber products, oil palm and coconut, so does the country's border trade with Myanmar due to damaged land transportation routes caused by recent floods in the neighboring country and the weakening Myanmar kyat, Thailand's border trade with Cambodia has been expanding well, with the country's exports to the Cambodian side through border passes last month alone jumping by 34 per cent year-on-year; so, it is believed that Thailand's total border trade and border transit trade should reach about 1.5 trillion baht in 2018 as earlier targeted, an about 15 per cent year-on-year growth", stated the senior official. The senior official foresaw that Thailand's border trade and border transit trade should keep growing next year, thanks to his department's planned activities to boost the cross-border trade in order to meet its targeted figures. (TNA)