Thailand’s cross-border trade posts positive growth in July

Thailand's border and cross-border trade continued its upward trajectory in July, reaching 158.1 billion THB (4.69 billion USD), up 21.7% year on year and marking the fourth consecutive month of expansion, said the Department of Foreign Trade under the Commerce Ministry on September 5.

Illustrative photo (Photo: Bangkokpost.com)

Of which, exports accounted for 87.1 billion THB, reflecting a rise of 15.5%, while imports totalled 71 billion THB, resulting in a trade surplus of 16.1 billion THB

Ronnarong Phoolpipat, director-general of the Department of Foreign Trade, said that the continued expansion of border and cross-border trade is a testament to Thailand's strategic location and strong economic ties with neighbouring countries.

In the first seven months of 2024, the country's border and cross-border trade amounted to 1.07 trillion THB, with exports rising by 5.9% to 621.4 billion THB and imports by 4.7% to 448.9 billion THB.

During the period, Thailand recorded a trade surplus of 172.4 billion THB.

According to the department, the expansion was attributed to strong demand for energy products, particularly diesel fuel, as well as consumer goods like rubber and rubber products.

Ronnarong said that the increase in demand for rubber products, especially from Malaysia, China, Japan, and the Republic of Korea, has been a major driver of Thai exports.

The government's initiatives to strengthen trade ties and improve infrastructure at border gates are expected to support this upward trend, he added.

He said that his department plans to continue its efforts under the "Strategy for Promoting Border and Cross-Border Trade and Investment 2024–2027," to create a more conducive environment for trade and investment./.

VNA