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Textile and garment export sees strong growth

23
Dec '08
In the period from January to October, of the ongoing year, Thailand fetched near about US$ 6.086 billion by exporting textile and garment products. The figures represented a year–on–year growth of 5.4 percent. Experts suggest this is a very impressive growth in the context of global economic downturn.

Because of financial crisis, consumers in US have reduced their expenditure, especially on clothes. Thus garment export sector in Thailand suffered decline in October, stood at $1.605 billion, down 2.6 percent year-on-year.

On the other hand, exports to the other major markets still kept strong growth, especially EU and Japan, totaled $1.143 billion and 401.6 billion respectively, escalated by 5.51 and 30.86 percent.

According to available statistics from Thailand Textile Institute, exports to South East Asian countries (ASEAN) also enjoyed fruitful results, represented a year-on-year growth of 14.7 percent to $871.8 million, including Vietnam for $190.17 million; Indonesia at $159.81 million and Malaysia for $114.06 million.

In the meanwhile, Thailand imported textile and garment products worth $3.185 billion during January to October period, showcasing a rise of 22.8 percent over similar period previous year. During this time, the country expended $2.732 billion and $453.5 million on textile and garments respectively.

For further statistics click here

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