ID :
208874
Thu, 09/22/2011 - 15:11
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Shortlink :
http://m.oananews.org//node/208874
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Thai garment export growth to meet 2011 target
BANGKOK, September 22 (TNA) - Exports of Thai garment, excluding textiles, are projected to grow 12 per cent this year, enabling the country to earn more than US$3.3 billion and meet the target set by the Commerce Ministry, said Sukit Kongpiyajarn, president of Thai Garment Manufacturers Association (TGMA).
During the first seven months of this year, garment exports grew 9.66 per cent from the same period last year and the country earned about US$1.98 billion, Sukit said.
Exports of textiles between January-July, 2011 were valued at US$4.98 billion, up 17.34 per cent from the corresponding period of 2010, he said.
Total exports value for garment and textiles during the first seven months of 2011 was US$6.96 billion, an increase of 15.06 percent from a year ago.
There are signs that exports of both products in 2012 could decline to 9-10 percent as the U.S., which is Thailand’s number one importer, could be hit by unemployment rates as high as 9 per cent, while the European Union, which is the number two importer, could begin tightening its budget.
Thailand, said Sukit, will probably have to focus more on the ASEAN market. Thai manufacturers may have to relocate their production outlets elsewhere where wages are cheaper on the back of the government’s plan to hike daily wages for workers to 300 baht.
Also, Sukit said TGMA members may have to switch from being original equipment manufacturers (OEM) to Smart OEMs, which will allow them to produce more and under their own brand names. (TNA)
During the first seven months of this year, garment exports grew 9.66 per cent from the same period last year and the country earned about US$1.98 billion, Sukit said.
Exports of textiles between January-July, 2011 were valued at US$4.98 billion, up 17.34 per cent from the corresponding period of 2010, he said.
Total exports value for garment and textiles during the first seven months of 2011 was US$6.96 billion, an increase of 15.06 percent from a year ago.
There are signs that exports of both products in 2012 could decline to 9-10 percent as the U.S., which is Thailand’s number one importer, could be hit by unemployment rates as high as 9 per cent, while the European Union, which is the number two importer, could begin tightening its budget.
Thailand, said Sukit, will probably have to focus more on the ASEAN market. Thai manufacturers may have to relocate their production outlets elsewhere where wages are cheaper on the back of the government’s plan to hike daily wages for workers to 300 baht.
Also, Sukit said TGMA members may have to switch from being original equipment manufacturers (OEM) to Smart OEMs, which will allow them to produce more and under their own brand names. (TNA)
