Malaysia-Thailand Border Trade Falls 15 Per Cent In First 10 Months

By Linda Khoo BANGKOK, Dec 10 (Bernama) -- Border trade between Malaysia and Thailand in the first 10 months of the year fell 14.67 per cent to 198.65 billion baht (US$6.60 billion) as border closure to prevent the spread of the COVID-19 pandemic has interrupted trade activities between the neighbouring countries. (US$1 = 30.05 baht) According to Thailand’s Foreign Trade Department director-general, Keerati Rushchano, his country’s cross-border trade with neighbouring countries -- Malaysia, Myanmar, Laos and Cambodia -- from January to October this year stood at 623.22 billion baht, slipping 9.87 per cent year-on-year (y-o-y). Thailand’s exports to the four neighbouring countries declined 8.94 per cent to 365.25 billion baht while imports fell 11.55 per cent to 258.44 billion baht in that period. “Malaysia is Thailand’s biggest border trade partner. Exports to Malaysia fell 8.33 per cent to 97.54 billion baht while imports dropped 20.21 per cent to 101.11 billion baht, resulting in a trade deficit of 3.57 billion baht,” he said in a statement Wednesday. Keerati said Thailand’s cross-border trade including transit trade stood at 1.08 trillion baht, declining 4.11 per cent y-o-y in the first 10 months. He said the export value dropped 4.32 per cent to 626.40 billion baht while import value fell 3.81 per cent to 455.18 billion baht, resulting in a trade surplus of 171.22 billion baht. Meanwhile, Keerati said Thailand’s transit trade with Singapore, Vietnam, and southern China rose 5.04 per cent to 457.91 billion in the first 10 months of this year. As of Nov 26, Thailand has opened 37 of its 97 border checkpoints. -- BERNAMA