Thailand's Border Trade Growth

The Ministry of Commerce has reported a 6% increase in Thailand's border trade, attributing this growth to the rising demand for Thai consumer goods and improved economic conditions.

November's Trade Performance

According to Arada Fuengthong, Director-General of the Department of Foreign Trade, the border and transit trade in November reached a value of 150 billion baht, marking a 4% increase compared to the previous year. Exports played a significant role, with an 85.7 billion baht value, showing a 15.3% growth, while imports decreased by 8% to 64.5 billion baht, resulting in a trade surplus of 21.2 billion baht.

Year-to-Date Trade Figures

For the first 11 months of 2024, exports in border and transit trade amounted to 958 billion baht, a 6.5% increase, and imports totaled 707 billion baht, up by 5.4%, leading to a trade surplus of 251 billion baht. Diesel, refined petroleum products, and concentrated latex were among the key export products.

Future Trade Goals

Thailand has set an ambitious goal to boost the value of border and transit trade to 2 trillion baht by 2027, aiming for an average annual growth of 3%. The Department of Foreign Trade is focusing on facilitating trade and overcoming challenges to reach this target. Without major disruptions, the trade value is expected to hit 1.84 trillion baht in 2025.

Upcoming Trade Promotions

To support this growth, the department is organizing six trade promotions in border and economic corridor provinces this year, with the first event scheduled in Nakhon Ratchasima from January 23 to 26.