BANGKOK, 29 June 2019(NNT) – The Department of Foreign Trade (DFT) has reported that the total value of border trade and cross border trade rose by 2.31 percent in the first five months of this year.
The border trade and cross border trade in the first five months of 2019 was worth over 570 billion baht, up 2.31 percent and continuing to grow well, unlike the total exports of the country which declined by 2.7 percent in the first five months.
Border trade with four countries was worth 440 billion baht, up 0.57 percent. Malaysia was still the number one trading partner, but exports shrank slightly in rubber products which were affected by the baht’s appreciation, followed by Myanmar, Lao PDR and Cambodia.
Transit cargoes to three neighbouring countries were worth more than 110 billion baht. Southern China was the number one trading partner given the value of exports of frozen fresh fruit, and dried fruit which rose by 274 percent, followed by trade with Vietnam and Singapore.
DFT Director General Adul Chotinisakorn, expressed his confidence that for the rest of this year, border trade and cross border trade will expand continually because Thai products are still preferred by neighboring countries, and ASEAN has agreed to accelerate trade facilitation during the ASEAN Summit which will help guide ongoing trade.
There is also a plan to promote trade in accordance with a project designed to form a network of new generation Thai entrepreneurs trading with neighboring countries, and a border trade fair to boost trade value to attain a target of 1.6 trillion baht, up by 15 percent.
Thailand ranked 3rd in ASEAN on Economic Freedom Index
Thailand has a business freedom index of 85.3 out of 100. This is a big improvement over last year, which helped to increase the country’s overall score to 69.7, a 0.3 point jump from last year.
Thailand ranked 3rd in ASEAN, 9th among 40 Asia-pacific countries and 42nd in the World on the most recent on Economic Freedom index. Singapore tops the list for the second consecutive year, followed by New Zealand and Australia.
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