Surge in Demand for Thai Goods Boosts Border Trade
Thailand’s Department of Commerce reports that the country’s border trade has seen a significant 6% increase year-on-year, reaching a remarkable 1.66 trillion baht during the first 11 months of 2024. This surge is driven by rising demand for Thai consumer goods and improved economic conditions.
In November 2024, border and transit trade was valued at 150 billion baht, reflecting a 4% year-on-year increase. Exports contributed 85.7 billion baht to this total, marking a robust 15.3% growth, while imports decreased by 8% to 64.5 billion baht, resulting in a favorable trade surplus of 21.2 billion baht.
Throughout the first 11 months of 2024, exports from border and transit trade totaled 958 billion baht, up 6.5% from the previous year, while imports reached 707 billion baht—a 5.4% increase—culminating in a trade surplus of 251 billion baht.
In November alone, border trade with neighboring countries amounted to 82.4 billion baht, up 4.6% year-on-year, with exports comprising 51.7 billion baht (+5.7%) and imports at 30.7 billion baht (+2.8%), yielding a trade surplus of 21 billion baht. Malaysia topped trade figures with 25.4 billion baht, followed by Laos, Myanmar, and Cambodia. Key export items included diesel, refined petroleum products, and concentrated latex.
In comparison, the first 11 months of last year witnessed border trade valued at 899 billion baht, a 5.1% increase, with exports at 552 billion baht (+18.1%) and imports at 347 billion baht (+8.4%), resulting in a trade surplus of 204 billion baht.
Transit trade to third countries has also shown positive growth, reaching 67.8 billion baht in November, a 3.2% year-on-year increase. Exports accounted for 34 billion baht (+33.8%), while imports fell by 16.1% to 33.8 billion baht. Major destinations included China, Singapore, and Vietnam, with significant export products being hard disk drives, rubber products, and TSNR rubber blocks.
For the first 11 months of 2024, total transit trade was recorded at 766 billion baht, reflecting a 7% increase year-on-year, with exports of 406 billion baht (+11.2%) and imports at 360 billion baht (+2.6%), yielding a trade surplus of 46.3 billion baht.
The border trade with Myanmar has rebounded, growing by 6.5% year-on-year to 11.4 billion baht in November, despite challenges posed by ongoing conflicts affecting trade routes near the Mae Sot border in Tak province. Alternative customs checkpoints have successfully facilitated trade, with key products including diesel, refined petroleum products, beverages, and floor tiles.
Thailand’s Department of Commerce aims to elevate the value of border and transit trade to 2 trillion baht by 2027, targeting an average annual growth of 3%. If uninterrupted, the border and transit trade value is projected to reach 1.84 trillion baht by 2025. The department plans to organize six trade promotions in border and economic corridor provinces this year, with the inaugural event set to take place in Nakhon Ratchasima from January 23-26.
