Border-transit exports in the first half of the year expanded by 3.2%, with an export value of 840 billion baht.

Border-transit exports, export value 840,000 million baht

Border trade and cross-border trade figures in June 2022 were worth a total of 160,469 million baht, an increase of 9.9% compared to the same month last year, divided into exports worth 102,242 million baht, an increase of 10.4%, and imports worth 58,228 million baht, an increase of 8.9%, with Thailand having a trade surplus in June 2022 totaling 44,041 million baht.

This resulted in the total value of border and cross-border trade in the first 6 months of 2022 being 849,292 million baht, an increase of 3.2% compared to the same period last year.

Divided into export value of 506,827 million baht, an increase of 1.2% and import value of 342,465 million baht, an increase of 6.3%, Thailand had a total trade surplus of 164,362 million baht.

Export support factors continue to benefit from the baht, which tends to weaken, allowing Thai products to be more competitive in terms of price, including rising world oil prices and increasing demand for fuel from neighboring countries.

This resulted in the value of Thai fuel exports to Myanmar and Laos expanding by more than 190% and supporting factors for exports.

Another important thing is that the economies of neighboring countries are starting to recover, which has an effect on the production sector and consumption expansion, resulting in a greater demand for imports of production factors, especially Malaysia, which has increased its imports of automobile tires from Thailand by 233.5%, automobiles, equipment and components by 48.5%, and Cambodia has increased its imports of minerals and other fuels by 407%, and equipment and components by 139%.

Thailand has border trade with 4 countries: Malaysia, Laos, Myanmar and Cambodia. In June 2022, the total trade value was 92,032 million baht, an increase of 25.5% compared to the same month in 2021.

Divided into exports worth 57,358 million baht, an increase of 25.8%, and imports worth 34,675 million baht, an increase of 24.9%.

There are products that have received attention as follows:

• Malaysia, export value 16,461 million baht (+22.8%), important export products include computers, equipment and components, rubber, and automobiles, equipment and components.
• Cambodia, export value 14,397 million baht (+21.0%), main export products include automobiles, equipment and components, non-alcoholic beverages and internal combustion engines.
• Myanmar, export value 13,543 million baht (+33.3%), main export products include diesel, other refined oils, and cosmetics, fragrances, soaps.
• Lao PDR, export value 12,957 million baht (+27.9%), main export products include diesel, other refined oils and sugar.

As for cross-border trade to third countries, such as China, Singapore, Vietnam, and other countries, in June 2022, the total value was 68,437 million baht, down -5.9% compared to the same month of 2021, divided into exports worth 44,884 million baht, down -4.5%, and imports worth 23,553 million baht, down -8.4%, with the following products of interest:

• China, export value 20,922 million baht (-5.7%), important export products include fresh, chilled, frozen and dried fruits, computers and equipment, rubber and rubber products.
• Singapore, export value 4,106 million baht (-14.3%), important export products include computers and equipment, electrical circuit boards, electrical appliances, and air conditioners.
• Vietnam Export value 3,556 million baht (-13.0%). Major export products include non-alcoholic beverages, semiconductor devices, transistors and diodes, and fresh, chilled, frozen and dried fruits. Other countries (e.g. Hong Kong, the United States and Japan) Export value 16,300 million baht (+ 2.3%).