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Thailand reaps Bt9 billon trade deficit from FTAs

MCOT News, Thailand

Thailand reaps Bt9 billon trade deficit from FTAs

10 August 2006

BANGKOK, Aug 10 (TNA) - Thailand is suffering a nearly Bt9 billion (about US$239.5 million) trade deficit chalked up between October last year and May this year as a result of the free trade agreements (FTAs) it has entered with China, India, Australia and New Zealand.

Quoting statistics compiled by the Commerce Ministry on trading activities with these four countries during the period, government spokesman Surapong Suebwonglee said on Wednesday that during the period, Thailand exported goods worth Bt609 billion, imported Bt618 billion of goods from these countries, resulting in a Bt8.99 billion deficit.

Under the Chinese-Thai FTA Agreement, Thailand exported Bt383 billion worth of goods while importing Bt419 billion from China.

With India, Thailand exported Bt20 billion worth of goods while importing Bt5.9 billion. The top Thai export item is colour TV sets, and the other way round, stick shifts from India top Thailand’s import

With Australia, Thailand exported nearly Bt187 billion of products mostly vehicles, against Bt183 billion of imports mostly gold.

Thailand also enjoys a trade surplus with New Zealand under the bilateral free trade agreement. Thai exports amounting to Bt18 billion to New Zealand during the period included crude oil and by-products
from bituminous ore and the country imported goods mostly dairy products worth Bt9.5 billion.