Bangkok (VNA) - Growing demand for Thai consumer goods and better economic conditions drove the value of Thailand's border trade to rise by 6% year-on-year to 1.66 trillion THB (47.96 billion USD) in the first 11 months of 2024, according to the country’s Commerce Ministry.
Director-General of the Department of Foreign Trade Arada Fuengthong said border and transit trade in November was valued at 150 billion THB, a 4% increase year-on-year. Exports accounted for 85.7 billion THB, a 15.3% growth year-on-year, while imports totalled 64.5 billion THB, an 8% decrease, resulting in a trade surplus of 21.2 billion THB.
For the first 11 months of this year, the value of border and transit trade exports stood at 958 billion THB, a 6.5% increase year-on-year, while the value of border and transit trade imports reached 707 billion THB, up 5.4%, resulting in a trade surplus of 251 billion THB.
The key export products were diesel, refined petroleum products, and concentrated latex.
Thailand aims to boost border and transit trade value to 2 trillion THB 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 THB 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./.
