Post by account_disabled on Jan 3, 2024 5:22:54 GMT
Thailand's cross-border trade with Vietnam is likely to grow at approximately 30%CAGR over the next three years, mainly driven by the expansion of Vietnam's domestic production and consumption industries. This will have a positive impact on the Thai cross-border shipping business. Although at present there are problems with road conditions and differences in transportation laws. and the complexity of customs procedures It is still a major obstacle to cross-border transport of goods to Vietnam. In June 2018, member countries in the Mekong River Basin officially began opening cross-border freight transport under the GMS-CBTA agreement to reduce obstacles in both customs procedures and traffic systems. EIC assesses that the agreement is as follows. It is said that it will reduce transportation time by approximately 45% and reduce transportation costs by more than 20% from traditional cross-border transportation. From the past analysis of the cross-border freight forwarding business, EIC found that the number of registered freight vehicles does not reflect the competitiveness of operators.
This is reflected in the performance of operators with more than 100 registered Industry Email List freight vehicles, which is lower than the overall performance average in markets with average revenue growth of approximately 10% and average gross profit margins of approximately 20% However, cross-border freight operators will face many challenges. Whether it is infrastructure limitations Competition is likely to intensify from both Thai and foreign operators under the GMS-CBTA agreement and the expansion of the rail transport network will be another option for those wishing to transport goods to Vietnam. Thailand's cross-border trade with neighboring countries plays an increasingly important role in the economy. Especially Vietnam, which is considered an important transit trading partner country. It accounts for more than 60% of the overall cross-border trade volume. It is well known that Thailand has traded with neighboring countries for a long time and in the past the government has always given importance to trade in the region. During the past 5 years (2014-2018), border trade to Myanmar Laos, Cambodia, and Malaysia expanded by approximately 3%CAGR, while cross-border trade to southern China, Singapore, and Vietnam grew by more than 12%CAGR. In 2018.
Thailand's cross-border trade was valued at over 300 billion baht or higher in volume. 2 million tons. Although the value of trade across the Thai border with southern China is as high as 100 billion baht, the proportion of trade volume is not very large. This is because the majority of cross-border exports are high-value products such as computer parts and electronic equipment, while the cross-border trade volume to Vietnam is as high as 1.3 million tons, accounting for more than 60% of the overall cross-border trade volume. Over 95% is exported. Vietnam is therefore a market worth watching and an opportunity for shipping operators. Important Thai export products to Vietnam include fresh, frozen and dried fruits, non-alcoholic beverages. and electronic equipment parts In the medium term (2019-2021), Thailand's cross-border trade with Vietnam is likely to expand by approximately 30%CAGR in line with the Vietnamese economy's continued growth. both from the production and consumption sectors within the country Vietnam is considered one of the countries with the fastest economic growth in the world and is also of interest to foreign investors in setting up production bases for export.
This is reflected in the performance of operators with more than 100 registered Industry Email List freight vehicles, which is lower than the overall performance average in markets with average revenue growth of approximately 10% and average gross profit margins of approximately 20% However, cross-border freight operators will face many challenges. Whether it is infrastructure limitations Competition is likely to intensify from both Thai and foreign operators under the GMS-CBTA agreement and the expansion of the rail transport network will be another option for those wishing to transport goods to Vietnam. Thailand's cross-border trade with neighboring countries plays an increasingly important role in the economy. Especially Vietnam, which is considered an important transit trading partner country. It accounts for more than 60% of the overall cross-border trade volume. It is well known that Thailand has traded with neighboring countries for a long time and in the past the government has always given importance to trade in the region. During the past 5 years (2014-2018), border trade to Myanmar Laos, Cambodia, and Malaysia expanded by approximately 3%CAGR, while cross-border trade to southern China, Singapore, and Vietnam grew by more than 12%CAGR. In 2018.
Thailand's cross-border trade was valued at over 300 billion baht or higher in volume. 2 million tons. Although the value of trade across the Thai border with southern China is as high as 100 billion baht, the proportion of trade volume is not very large. This is because the majority of cross-border exports are high-value products such as computer parts and electronic equipment, while the cross-border trade volume to Vietnam is as high as 1.3 million tons, accounting for more than 60% of the overall cross-border trade volume. Over 95% is exported. Vietnam is therefore a market worth watching and an opportunity for shipping operators. Important Thai export products to Vietnam include fresh, frozen and dried fruits, non-alcoholic beverages. and electronic equipment parts In the medium term (2019-2021), Thailand's cross-border trade with Vietnam is likely to expand by approximately 30%CAGR in line with the Vietnamese economy's continued growth. both from the production and consumption sectors within the country Vietnam is considered one of the countries with the fastest economic growth in the world and is also of interest to foreign investors in setting up production bases for export.