November 9, 2020: Border trade between Malaysia and Thailand in the first nine months of the year fell 17.23 per cent to 175.10 billion baht (100 baht = RM13.50) as border closure to curb the spread of COVID-19 has disrupted normal economic activities.
Foreign Trade Department director-general Keerati Rushchano said Thailand’s cross-border trade with neighbouring countries – Malaysia, Myanmar, Laos and Cambodia, in the period stood at 561.10 billion baht, dropping 10.03 per cent year-on-year (y-o-y).
“Exports to Malaysia fell 11.5 per cent y-o-y to 85.48 billion baht, while imports slipped 22.04 per cent to 89.62 billion baht.
“This resulted in a 4.14 billion baht trade deficit,” he said in a statement.
He added that the border trade with Laos fell 5.6 per cent to 139.68 billion baht, Myanmar slid 12.83 per cent to 127.01 billion baht, while trade with Cambodia rose 0.73 per cent to 119.30 billion.
Malaysia is Thailand’s biggest border trade partner.
Keerati said Thailand’s cross-border trade including transit trade stood at 968.87 billion baht, declining 4.88 per cent y-o-y in the first nine months.
“The export value stood at 563.95 billion baht, down 4.66 per cent y-o-yr from January to September this year, while import value dropped 5.19 per cent to 404.92 billion baht, recording a trade surplus of 159.02 billion baht,” he said.
Keerati said Thailand’s transit trade with Singapore, Vietnam and Southern China rose 3.25 per cent to 407.77 billion baht from January to September this year.
Source: The Edge Markets