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Thai garment exports depict negative trend
31
Oct '12
Impacted by a fall in demand from key markets, Thailand’s garment exports for the first nine months of the current year dropped to US$ 2.246 billion, registering a year-on-year fall of 11.7 percent.
 
According to the Thai Garment Manufacturers Association (TGMA), the fall was mainly on account of reduced exports to the EU and the US, the two key export destinations. 
 
With a 34.25 percent share, the US continued to be the largest export destination for Thai garment sector during the review period, however, value of exports slumped by 13.9 percent year-on-year to US$ 769.4 million.
 
Similarly, exports to EU also slumped by 23.6 percent year-on-year to US$ 596.4 million, owing to reduced demand from leading EU markets like the UK, Spain, Germany and France.
 
Exports to Germany, the largest importer of Thai garments within EU, slumped 25.4 percent y-o-y to US$ 101.8 million, that to the UK by 37.7 percent to US$ 82.8 million, to France by 29.7 percent to US$ 81.2 million and to Spain by 39.2 percent to US$ 73.3 million. However, exports to Belgium grew by 1.21 percent to US$ 98.5 million.
 
Apparel exports from Thailand to some of the leading Asian markets posted positive growth during the period under review. Indicative of a year-on-year rise of 12.3 percent, exports to Japan grew to US$ 279.6 million, while that to China, including Hong Kong, surged by 6 percent y-o-y to US$ 72.9 million. 
 

Fibre2fashion News Desk - India

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