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Thai textile and garment exports decline in 2012
06
Feb '13
The exports of textiles and clothing from the Southeast Asian nation of Thailand registered US$ 7.22 billion in 2012, down 12.2 percent year-on-year, according to the Thai Garment Manufacturers Association (TGMA) and the Thailand Textile Institute (THTI).
 
Segment-wise, exports of textiles dipped by 13.68 percent year-on-year to US$ 4.27 billion, while apparel exports fell by 9.95 percent year-on-year to US$ 2.95 billion.
 
The slump in Thai textile and clothing exports is attributed to a slowdown in key markets, especially the EU.
 
Last year, Thai textile and garment exports to the EU stood at US$ 1.09 billion, showing a significant drop of 24.27 percent year-on-year.
 
Thai textile and clothing exports to other major markets also fell in 2012. Exports to China decreased to US$ 388.5 million, down 15.5 percent year-on-year, while those to the US and Japan fell to US$ 1.2 billion and US$ 698.1 million, down 14.08 percent y-o-y and 4.81 percent y-o-y, respectively.
 
During the same twelve-month period, Thailand’s textile and apparel industry spent US$ 442.8 million on machinery, a surge of 30.58 percent year-on-year.
 
In 2012, Thailand’s textile and garment industry imported raw materials worth US$ 3.99 billion, showing a decline of 2.81 percent year-on-year. While imports of fibre and yarn declined by 7.1 percent y-o-y to US$ 2.15 billion, fabric imports increased by 2.74 percent y-o-y to US$ 442.8 million.
 

Fibre2fashion News Desk - India

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