Malaysia-Thailand Border Trade Falls 32.43 Per Cent Jan-May 2020

BANGKOK, July 10 (Bernama) — The border trade between Malaysia and Thailand fell 32.43 per cent and stood at 87.85 billion baht (100 baht =RM13.64) in the first five months of this year, following the closure of entry points to contain the COVID-19 outbreak. Director-general of the Foreign Trade Department Keerati Rushchano said from January to May this year, the export value between Malaysia and Thailand stood at 42.26 billion baht while the import value was at 45.60 billion baht. “Malaysia is Thailand’s biggest border trade partner. The border trade between Malaysia and Thailand dropped 32.43 per cent in the first five months this year,” he said in a statement. He added that Thailand exports rubber products, computers and integrated circuits to Malaysia. To curb COVID-19 outbreak, Thailand temporarily closed 69 of 97 border and entry points in the country to curb the COVID-19 outbreak in the kingdom in early April. To date, there are only 12 border and entry points including four between Malaysia and Thailand which has been reopened for export and import and transportation of goods. Keerati said Thailand’s cross border trade including transit trade stood at 524.357 billion baht, dropped 9.71 per cent year-on-year in the first five months this year. “The export value fell 9.03 per cent to 305.72 billion baht while the import value declined 10.65 per cent to 218.63 billion baht. This resulted in a 87.09 billion baht trade surplus,” he said. Keerati said Thailand’s transit trade with Singapore, Vietnam and Southern China stood at 214.7 billion baht from January to May this year, which declined by 1.5 per cent on a year on year basis. He said transit trade with southern China and Singapore increased 15.7 per cent and 20.8 per cent to 90.74 billion baht and 36.10 billion baht during the period. “Transit trade value with Vietnam and other countries fell by 26.7 per cent and 16.9 per cent to 24.69 billion and 63.18 billion baht during the same period,” he said. -- BERNAMA