Malaysia-Thai border trade falls 17%

by BERNAMA / pic by BERNAMA

BANGKOK • Border trade between Malaysia and Thailand in the first nine months of the year fell 17.23% to 175.1 billion baht (RM23.62 billion) as border closure to curb the spread of Covid-19 has disrupted normal economic activities.

Foreign Trade Department DG Keerati Rushchano said Thailand’s cross-border trade with neighbouring countries — Malaysia, Myanmar, Laos and Cambodia in the period stood at 561.1 billion baht, dropping 10.03% year-on-year (YoY).

“Exports to Malaysia fell 11.5% YoY to 85.48 billion baht, while imports slipped 22.04% 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% to 139.68 billion baht, Myanmar slid 12.83% to 127.01 billion baht, while trade with Cambodia rose 0.73% to 119.3 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% YoY in the first nine months.

“The export value stood at 563.95 billion baht, down 4.66% YoY from January to September this year, while import value dropped 5.19% 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% to 407.77 billion baht from January to September this year.