Border and Cross-Border Trade in May Grows by 38%, Expanding for 5 Consecutive Months!
July, 4 2021
Mr. Jurin Laksanawisit, Minister of Commerce, revealed that border and cross-border trade in May recorded a growth of 38%, bringing the total trade value for the first five months of the year to 677.078 billion baht, with an expansion rate of 29.15%. The trade value is expected to surpass the target of 1.4 trillion baht this year.
Trade Value Breakdown for May:
- Border Trade: 75.659 billion baht (+4.13%)
- Cross-Border Trade: 75.199 billion baht (+7.45%)
Cumulative Trade Value (January - May):
- Border Trade: 371.040 billion baht (+19.85%)
- Cross-Border Trade: 306.038 billion baht (+42.57%)
Key Factors Driving Trade Growth:
- Reopening of Border Checkpoints: Continuous efforts to reopen border checkpoints have increased trade volume. So far, 46 out of 97 previously closed checkpoints have reopened, with plans to reopen 11 more checkpoints soon.
- Collaboration Between the Ministry of Commerce and the Private Sector: Joint efforts in accelerating trade facilitation and proactive problem-solving have ensured smoother and faster cross-border transactions.
- Economic Stimulus and Increased Vaccination Rates: As more countries implement economic recovery measures and accelerate vaccination programs, cities are reopening, leading to greater economic activity.