NationThailand-Feb 2
Thailand’s border and cross-border trade in 2024 exceeded 1.8 trillion baht, marking a record high with a 6.1% growth. The target is to continue pushing towards 2 trillion baht per year by 2030, the Department of Foreign Trade revealed. In 2024, trade with neighboring countries—Malaysia, Laos, Myanmar, and Cambodia—had a total value of 976.92 billion baht (+5.1%), with exports at 602.13 billion baht (+3.8%) and imports at 374.79 billion baht (+7.2%). Thailand recorded a trade surplus of 227.34 billion baht. Trade with Malaysia had the highest value at 306.68 billion baht (+6.8%), followed by Laos at 286.77 billion baht (+10.1%), Myanmar at 208.94 billion baht (-5.3%), and Cambodia at 174.53 billion baht (+7.9%). Key exports included diesel fuel (41.03 billion baht, +2.2%), other refined oils (19.58 billion baht, -0.5%), and concentrated latex (15.92 billion baht, +38.1%). Major imports included other fuels like electricity (75.29 billion baht, +9.8%), natural gas (65.24 billion baht, -8.3%), and vegetables and processed vegetable products (such as cassava and cassava products) (23.56 billion baht, +9.8%). In 2024, Cross-border trade to third countries totaled 838.75 billion baht (+7.4%), with exports at 446.35 billion baht (+11.4%) and imports at 392.40 billion baht (+3.1%), resulting in a trade surplus of 53.95 billion baht. Trade to China had the highest value at 479.87 billion baht (+12.7%), followed by Singapore at 110.35 billion baht (+3.6%) and Vietnam at 72.03 billion baht (+2.7%). Key exports included fresh durian (98.68 billion baht, +5.3%), hard disk drives (87.53 billion baht, +12.7%), and TSNR rubber (39.38 billion baht, +39.3%). Major imports included magnetic tapes for computers (47.09 billion baht, +2.0%), computers and equipment (38.79 billion baht, +2.0%), and radio, telephone, telegraph, and television receivers (30.17 billion baht, -0.6%). Read more at: https://www.nationthailand.com/blogs/business/trade/40045830
