BANGKOK – The coronavirus outbreak is unlikely to affect Thailand’s border trade, says a Commerce Ministry senior official.
The Foreign Trade Department’s Director-General Kirati Ratchano commented on Tuesday on the epidemic crisis that he believed the problem would not have any impacts on Thailand’s cross-border trade as the Chinese government would speedily control the virus outbreak.
The worrying factor was in fact the stronger baht, he said.
Last year, Thailand missed the target of cross-border trade volume due mainly to the baht appreciation, said Kirati.
The border trade in 2019 totaled THB1.33 trillion, a 3.43 percent decrease, he added.
Global economic slowdown, continued trade war and overall volatile foreign exchange have also weighed in on Thailand’s border trade.
Of the total figures, exports from Thailand accounted for THB750 billion, down 2.72 percent from the previous year, while imports were worth THB587 billion, down 4.31 percent, said the senior official.