Border and transit trade in the first half of this year tallied 912 billion baht, up 3.6%, according to the Foreign Trade Department.
Ronnarong Phoolpipat, director-general of the department, said border and transit trade in June were worth 162 billion baht, up 7.05%. Exports accounted for 96 billion baht, down 0.89% year-on-year, and imports 65 billion, up 21.3%, resulting in a trade surplus of 31 billion baht.
For the first six months of 2024, the total value of 912 billion baht was attributed to increased demand for Thai goods.
Exports accounted for 534 billion baht, a gain of 3.1% year-on-year, and imports 378 billion, up 4.3%, resulting in a trade surplus of 156 billion baht.
Border trade with four neighbouring countries tallied 493 billion baht, up 2.6%. Exports accounted for 305 billion baht, a gain of 1.5% year-on-year, while imports fell 4.6% to 188 billion, resulting in a trade surplus of 117 billion baht.
In value terms, Laos recorded the highest value for border trade of 150 billion baht, followed by Malaysia with 149 billion, Myanmar 107 billion, and Cambodia 88 billion.
Key border trade products included diesel (23 billion baht), refined oil (10 billion), and concentrated latex (8 billion).
Transit trade, which is trade via border checkpoints to third countries, tallied 419 billion baht in the first half, a gain of 4.8%. Exports accounted for 229 billion baht, up 5.4%, while imports rose 4.0% to 190 billion.
China had the highest value for transit trade at 244 billion baht, up 14.3%, followed by Singapore at 53 billion (-10.3%) and Vietnam 36 billion (-6.6%).
Key transit trade products include fresh durian (68 billion baht), hard disk drives (41 billion), and technically specified rubber, commonly known as block rubber (20 billion).
In a related development, Mr Ronnarong said Commerce Minister Phumtham Wechayachai ordered the department to investigate dwindling border trade.
The department has been in talks with related agencies about using other border checkpoints for goods transport if conflict escalates in Myanmar, such as Ranong Port checkpoint and Singkhon checkpoint in Prachuap Khiri Khan.
A measure was issued in Laos banning the import of agricultural products at local checkpoints that can be produced locally, with the exception of international border checkpoints that have plant and animal quarantine facilities to prevent smuggling of such goods.
Mr Ronnarong said this measure would not affect Thailand's business sector.
He said the ministry is committed to expediting cross-border and transit trade under the government's investment promotion strategy for 2024-2027.
This strategy involves collaboration with relevant state agencies to facilitate and stimulate cross-border and transit trade through efforts such as organising trade fairs, seminars and online business matching. These agencies include the Internal Trade Department, the Export-Import Bank of Thailand, the Small and Medium Enterprise Development Bank of Thailand, and the Bank for Agriculture and Agricultural Cooperatives.
Trade fairs were held in Mukdahan province from Feb 29 to March 3 and Kanchanaburi province from June 27-30 this year, with another scheduled for Songkhla province on Aug 15-18, in cooperation with the Malaysian External Trade Development Corporation and Malaysia's GISB Holdings.