Presenting a rather gloomy picture for the country's clothing and apparel exporters, sources said that exports this year are likely to register a five percent fall following which around 30 percent of current operators may go out of business.
A volatile baht and shift in quota system are some of the reasons cited for this expected fall. Thailand's clothing export value will reach Bt3.4 billion from the current Bt3.6 billion.
However, sources said the clothing sector will recover from the temporary market loss in the following year. But entrepreneurs will have to improve efficiency in order to avoid huge losses.
ASEAN-branded clothing is also expected to emerge in the region, as there is a population of 500 million people. So, it is a good opportunity for Thai entrepreneurs to position their products.