Border trade reaches B453 billion | Bangkok Post: breakingnews

The border trade between Thailand and neighbouring countries over the first seven months of the year (January-July) totaled 453.31 billion baht, an increase of 30.5 per cent from the same period last year, deputy director-general at the Foreign Trade Department Pongpun Gearaviriyapun said on Friday.

During the period, total value of Thailand’s products shipped to its neighbours was up 46.3 per cent to 283.88 billion baht, while the import value increased 10.5 per cent to 169.42 billion baht. The country posted a trade surplus of 114.46 billion baht, Ms Pongpan said.

She attributed the increase in border trade to the Asean Free Trade Area agreement (Afta) which took effect from Jan 1, 2010, leading to a reduction of import tax to zero per cent on more than 8,300  items, and the economic recovery in the neighbouring nations which boosted the demand for Thai products.