Cross-Border and Transit Trade Starts 2024 with 2.5% Growth, Boosting Northeastern Thailand's Border Trade
March, 15 2024
Progress on the Bangkok-Nong Khai High-Speed Railway
The Bangkok-Nong Khai high-speed railway is designed to connect with the China-Laos-Thailand railway to enhance logistics efficiency, boost exports, and increase tourism. However, according to the Foreign Affairs Committee, the construction progress is slower than expected.
The section from Bangkok to Nakhon Ratchasima, originally set for completion by 2028, has only achieved 14.5 km of construction as of 2024. The committee urged the government to restructure contracts and accelerate construction to ensure timely completion and seamless connectivity with Laos. Additionally, Thailand is urged to expedite the construction of a second Mekong River bridge in Nong Khai to further facilitate cross-border trade.
This railway is expected to enhance Thailand’s competitiveness, open access to China’s southern markets, and handle increased import flows into Thailand. Thai businesses must strengthen their competitiveness to adapt to increased trade activities.
Border and Transit Trade Figures (January 2024)
The Director-General of the Department of Foreign Trade reported that in January 2024, total border and transit trade reached 141.164 billion THB, growing 2.5% from January 2023.
- Exports: 75.046 billion THB (+4.8%)
- Imports: 66.119 billion THB (-0.02%)
- Trade surplus: 8.927 billion THB
Border Trade with Neighboring Countries
Border trade with Laos, Malaysia, Myanmar, and Cambodia amounted to 82.278 billion THB (+0.9%) in January 2024.
- Exports: 50.088 billion THB (+4.4%)
- Imports: 32.190 billion THB (-4.0%)
- Trade surplus: 17.898 billion THB
Top Border Trade Partners:
- Laos – 25.959 billion THB
- Malaysia – 23.989 billion THB
- Myanmar – 17.121 billion THB
- Cambodia – 15.210 billion THB
Key border export products:
- Diesel fuel – 3.891 billion THB
- Other refined petroleum – 1.650 billion THB
- White sugar – 1.334 billion THB
Transit Trade to Third Countries
- Total trade: 58.886 billion THB (+4.7%)
- Exports: 24.958 billion THB (+5.5%)
- Imports: 33.928 billion THB (+4.1%)
Top Transit Trade Destinations:
- China – 31.316 billion THB (+26.6%)
- Singapore – 8.206 billion THB (-30.3%)
- Vietnam – 5.716 billion THB (-13.1%)
Key transit export products:
- Hard disk drives – 5.520 billion THB
- TSNR rubber blocks – 2.628 billion THB
- Processed wood – 1.913 billion THB
The Director-General highlighted that January 2024 started with positive trade growth, driven by increased exports to Laos (+13.4%) and China (+4.1%).
Northeastern Border Trade Fair in Mukdahan
To further stimulate trade, the Department of Foreign Trade organized the Northeastern Border Trade Fair in Mukdahan (February 29 - March 3, 2024), featuring:
- 120 exhibition booths showcasing Thai and neighboring countries’ products.
- Trade policy discussions on the OSS centers in Nakhon Phanom and Mukdahan.
- Online business matching with importers from ASEAN and China.
- Seminar on AI in trade, featuring experts from the SME Development Bank of Thailand.
The event was well-received, generating over 2.5 million THB in sales. It aimed to enhance cross-border trade, support Thai businesses, and boost the economy in Northeastern Thailand.