Thailand’s cross-border trade down 7.6 percent in Q1
Thailand’s cross-border trade fell by 7.6 percent in the first quarter of this year compared to the same period last year as the COVID-19 pandemic hit the global economy and led bordering countries to close dozens of checkpoints.
Thailand’s cross-border trade down 7.6 percent in Q1 (Source: Bangkok Post)Bangkok (VNA) – Thailand’s cross-border trade fell by 7.6 percent in the first quarter of this year compared to the same period last year as the COVID-19 pandemic hit the global economy and led bordering countries to close dozens of checkpoints.
The Foreign Trade Department under the Ministry of Commerce said the country's overall cross-border trade, including transit trade, totalled 264.97 billion baht (8.18 billion USD) in the first three months.
Of the total figures, exports from Thailand totalled 187.56 billion baht, down 5.4 percent from the first three months of last year, and imports also decreased 12.6 percent to 77.4 billion baht.
Thailand's border trade with four neighbouring countries amounted to 195.66 billion baht, down 7.4 percent from the same period last year. Malaysia remained the biggest partner for Thailand's border trade, with the two-way trade at 56.47 billion baht. It was followed by trade with Laos (42.68 billion baht), Cambodia (48.33 billion baht) and Myanmar (48.16 billion baht).
Transit trade with Singapore, Vietnam and southern China dropped 2.2 percen in the first quarter, totalling 61.86 billion baht. Transit trade to southern China recovered to fetch the greatest value after China reopened, with value rising to 28.62 billion baht, up 4.9 percent, followed by Singapore (19.70 billion baht) and Vietnam (13.53 billion baht).
According to Keerati Rushchano, Director-General of the department, outstanding performance was seen in exports to Cambodia, which saw continued growth of 14.3 percent in the reviewed period./.
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