Thai Garment exporters expect sales to contract this year - The Nation
Thai Garment exporters expect sales to contract this year - The Nation
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Thailand’s garment exporters may face a 4% drop in exports this year. The industry, which is facing slow down due to severe competition from China and South Asia, was expecting a nominal export growth of 2% this year. The slowdown in exports is due to foreign-exchange losses amid the slow global economy, the Thai Garment Manufacturers Association has stated.
Vallop Vitanakorn, an adviser to the association, said last week that the minimal depreciation of the baht and deflation in the EU were weighing heavily on the industry.
