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Textile exports will pick pace in H2 - Thailand Textile Institute
24 Jul '09
2 min read
According to the Director of the Thailand Textile Institute, Mr Virat Tandejanurat, exports of textile and garments are expected to pick up pace in the second half of 2009, as buyers shy away from high cost producers.
He said orders have started increasing as this is the peak season but at the same time the foreign buyers have also kept away from countries and companies suspected of using child labour in the garment factories.
Thai products are seen as quality products, available at a very competitive price, due to which overseas buyers have shifted to Thailand based manufacturers from other countries like China, Bangladesh and Sri Lanka.
He continued by saying that the country's exports from the textile and garment sector which had shown a negative growth rate of 14.9 percent in the first half is expected to fall further to 7-10 percent in the second half.
He said the industry's total exports are expected to fall to US $7.2 billion from $7.4 billion in 2008 and about 56 new factories opened in the first half of the year, employing some 20,000 workers, while 40 factories with 6,000 employees have shut down.
He continued by saying, "We need technical textiles to support the local automotive industry and elsewhere FDI in this industry has increased, and if we can attract the same over here, it will be useful for our existing industries".
Exports of textiles and garments to the US accounts for 40 percent of all exports from the sector, fell by 28% in the first half, while shipments to the second biggest market; the European Union dipped by 5.9 percent.
He said orders have started increasing as this is the peak season but at the same time the foreign buyers have also kept away from countries and companies suspected of using child labour in the garment factories.
Thai products are seen as quality products, available at a very competitive price, due to which overseas buyers have shifted to Thailand based manufacturers from other countries like China, Bangladesh and Sri Lanka.
He continued by saying that the country's exports from the textile and garment sector which had shown a negative growth rate of 14.9 percent in the first half is expected to fall further to 7-10 percent in the second half.
He said the industry's total exports are expected to fall to US $7.2 billion from $7.4 billion in 2008 and about 56 new factories opened in the first half of the year, employing some 20,000 workers, while 40 factories with 6,000 employees have shut down.
He continued by saying, "We need technical textiles to support the local automotive industry and elsewhere FDI in this industry has increased, and if we can attract the same over here, it will be useful for our existing industries".
Exports of textiles and garments to the US accounts for 40 percent of all exports from the sector, fell by 28% in the first half, while shipments to the second biggest market; the European Union dipped by 5.9 percent.
Fibre2fashion News Desk - India
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