Thailand’s export sector has seen signs of recovery since the start of the COVID-19 crisis since last year, with April 2021 exports growing by 13%, while border trade has seen 26.7% growth in this year’s first 4 months.
Minister of Commerce Jurin Laksanawisit, disclosed that Thailand’s export sector is still performing well despite logistical restrictions due to the COVID-19 pandemic.
With 46 border crossings open out of the usual 97, Thailand’s border and cross border trade from January to April this year still managed to grow by 26.74%, generating some 526 billion baht in revenue for the country.
Looking country-by-country at border trade, Malaysia remains the biggest border trading partner with 53.87% growth, followed by Laos with 13.49% growth, and Myanmar at 0.002% growth, due to the political situation in the country – resulting in open border posts now numbering 11, well down from the previous 21.
In terms of cross border trade, Thailand has seen a total of 230 billion baht in the value of cross border trade, with China remaining the biggest partner with 54.25% growth, followed by Singapore with 34.57% growth, and Vietnam with 22.47% growth.
The Ministry of Commerce now anticipates Thailand’s border and cross border trade performance will yield a gross value of 1.4 trillion baht, 3-6% growth on last year’s recorded figure of 1.3 trillion baht. (NNT)