Thailand’s cross- border trade dropped nearly 10 percent in the first five months due to the ongoing COVID-19 pandemic, according to a senior official of the Ministry of Commerce.
The Foreign Trade Department’s Director- General Keerati Rushchano said that the total cross-border trade value reached 254.35 billion baht in the first five months of 2020, a 9.71 percent decrease year-on-year.
Thailand had a trade surplus of 87 billion baht in that period, said Keerati.
Among the four countries sharing borders with Thailand, Malaysia was the largest trade partner in terms of total value, 87.85 billion baht, he said.
Since the start of the COVID-19 pandemic, Thailand has closed 69 of 97 border crossings as a result of virus control measures.
Keerati said that he believed the border trade would pick up in the second half of the year as demands for Thai products were still high. However, the total border trade value this year would likely miss the target of 1.5 trillion baht, he said. (TNA)