Thailand’s border trade grows 6%

The increase was driven by growing demand for Thai consumer goods and better economic conditions, the ministry said.

Director-General of the Department of Foreign Trade Arada Fuengthong said border and transit trade in November was valued at 150 billion baht, a 4% increase year-on-year. Exports accounted for 85.7 billion baht, a 15.3% growth year-on-year, while imports totaled 64.5 billion baht, an 8% decrease, resulting in a trade surplus of 21.2 billion baht.

For the first 11 months of 2024, the value of border and transit trade exports stood at 958 billion baht, a 6.5% increase year-on-year, while the value of border and transit trade imports reached 707 billion baht, up 5.4%, resulting in a trade surplus of 251 billion baht.

The key export products were diesel, refined petroleum products, and concentrated latex.

Thailand aims to boost border and transit trade value to 2 trillion baht by 2027, with an average annual growth of 3%. The department focuses on facilitating trade and addressing challenges. If there are no major disruptions, the border and transit trade value is expected to reach 1.84 trillion baht in 2025, Arada said.

The department is hosting six trade promotions in border and economic corridor provinces this year. The first event is scheduled to take place in Nakhon Ratchasima from Jan. 23-26.