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Bright outlook for Thai textile export sector in 2014: TTI
04
Feb '14
Thailand’s textile export sector has a bright outlook this year, owing to the country’s advanced textile production technology, according to the Thai Textile Institute (TTI), reports the National News Bureau of Thailand.
 
Last year, Thai textile industry produced goods worth US$ 7 billion, growing at 3.6 percent year-on-year, according to Ms. Suthinee Phupaka, director of the TTI. 
 
The export sector performance of the textile industry showed an eight percent growth, as competent textile production technology enabled the textile export firms to fulfill demands from Asean markets as well as from the US, the EU and China, she informed.
 
Besides Thailand, Indonesia is the only other country among Asean nations that has complete textile production chain consisting of yarn, fabric and garment production. However, the difference lies in the fact that while Indonesia excels in mass production, Thailand has better production technology and customization.
 
On 2014 outlook for the textile industry, the director said the industry has a potential to register a growth of 7-8 percent, due to demands from trading partner countries.
 
She mentioned that there was a 30 percent drop in orders during October-November 2013 due to political uncertainty in the country.
 
In 2012, Thailand’s textile exports 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.
 

Fibre2fashion News Desk - India

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