Cambodia spat expected to cost border trade B60bn
If Thai-Cambodian border checkpoints remain closed until the end of the year, Thailand is expected to lose more than 60 billion baht in border trade, according to the Department of Foreign Trade (DFT).
As a consequence, total border trade for this year is estimated to grow by only 1-2%.
Arada Fuangtong, director-general of the DFT, said if the border remains closed from June to December, the estimated loss in export revenue could surpass 60 billion baht.
This figure is based on last year's total border trade value of 175 billion baht between the two countries, with exports accounting for 142 billion, an average of 11.8 billion per month.
She said reports indicated activities at border checkpoints have diminished, with businesses on both sides temporarily closing.
Provincial commerce offices along the border found many Thai and Cambodian shops have been closed since border control measures were implemented on June 7.
The export sectors hit hardest include vegetables, fruit and various consumer goods.
Exporters are exploring alternative shipping routes, such as coastal shipping through ports in Trat province or shipping industrial goods via Laem Chabang port.
Border imports from Cambodia tallied 32.7 billion baht last year, averaging 2.72 billion per month.
The largest volume of items included cassava and scrap metal needed for industrial processing.
If the border with Cambodia remains closed, Mrs Arada said Thailand may need to import more from Laos, though that trade has increased transport costs and longer transport times.
During the first five months of this year, Thai exports to Cambodia totalled 146 billion baht, an 8.7% year-on-year increase.
Border exports were valued at 63.1 billion baht, a 9% increase.
Imports from Cambodia amounted to 21.7 billion baht, up 7.1% year-on-year, with border imports tallying 17.7 billion baht, a 20% increase.
She said the border closure will impact the country's total border trade target this year.
The original goal was 3% growth, with trade valued at 1.87 trillion baht.
However, due to the closure, border trade growth is now anticipated to tally 1-2% from previous year's total of 1.82 trillion baht, according to the DFT.
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