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Exports from textile & garment sector to plunge in Q3
02
Apr '09
The textile and garment sector in Thailand, just like their competitors in other countries is going through the worst phase in recent history. Exports from the sector are expected to fall by 5-7 percent to US $875 million in the first quarter of 2009.

The outlook of the second quarter also seems bleak as garment manufacturing companies are complaining of not having enough orders to service in the next three months. Production has been cut by nearly 15 percent in most of the units.

However, the saving grace is that most of the companies in the sector have not laid-off their employees and have reduced working hours. Exports to the worst affected regions like US, Europe and Japan account for 82 percent of all exports from the sector.

The worst scenario that experts foresee is that the new college graduates who pass out in this year will face a lot of difficulties finding jobs, as many companies have frozen new recruitments due to the industrial slowdown across many sectors.

Fibre2fashion News Desk - India

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