Thailand : Thai garment exports to achieve 2% growth: TGMA report

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Thai garment exports to achieve 2% growth: TGMA report

30
Oct '14

Thai garment exports is expected to achieve a 2 percent growth this year with an increase in the orders from its main markets, according to a report from the Thailand Garment Manufacturers’ Association (TGMA), the National News Bureau of Thailand said.

The export value in 2014 will be worth around US$ 2.9-3.0 billion, which will be a growth of 2 percent, due to the orders from the main markets with high purchasing power such as the United States and the European Union, the report says.

According to TGMA, the export value in the first eight months of 2014 stood at $1,956 million, a one percent increase compared to the same period last year.

The association has set its goal for 2015 at 3-5% growth in garment exports.

For the launch of the ASEAN Economic Community in 2015, TGMA is now seeking new export markets in countries such as Japan, India, Africa, Australia, and Russia as well as extending its manufacturing base in ASEAN countries.

Around 30 to 50 members of TGMA are now starting to extend their manufacturing base into other ASEAN countries, especially Vietnam and Cambodia, TGMA said. (GK)

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