Barter is the present and the future of international trade, especially for people who is starting in the import export business. Barter and more: Triangular operations.
China pipped Japan as Thailand's largest trade partner for the first time last year, a Thai bank research centre reported today, Thai-Chinese trade reached US$64.97 billion in 2013, or 13.6% of the total trade value that year, slightly above the 13.2% accounted for by Thai-Japanese trade, according to Kasikorn Research Centre, a subsidiary of Kasikorn Bank.
Exports to China in January 2014 declined 0.77% year-on-year, while imports from China grew 3.4% year-on-year, according to the economic think tank. Kasikorn Research noted that China's trade surplus with the Association of Southeast Asian Nations (Asean) had been on the rise since trade tariffs were eased under a free trade agreement that came into effect in 2003.
Chinese shipments to Asean were 16.9% of their total in 2013, rising from 8.5% in 2003 when the Asean-China FTA became effective, the researchers said. Thailand's trade with Asean was 4.3% of the Asean total in 2013, compared to 3.8% in 2003, indicating that its products were losing market share in the region to China.
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