|
|
| • EXCH RATES |
|
Baht/$ 33.41/44
Bid/Ask
|
GOLD |
14,150
+ 100
|
|
Rivals encounter higher labour costs
PHUSADEE ARUNMAS
The export prospects of Thai fashion products remain promising this year as Thai manufacturers have become more competitive against regional rivals, notably India and China, where labour costs have been rising.
Exports of fashion products including textiles, gems and jewellery, travel gear, leather goods and shoes fared better than expected in the first four months of this year, according to Rachane Potjanasuntorn, the director-general of the Department of Export Promotion.
The fashion product segment accounted for $5.18 billion in export value, representing 9.3% of the country's total exports, in the four-month period. The value was up 30% over the same period last year.
Of the total, textile products earned $2.3 billion, a rise of 8.6%, with the key destinations including the United States, Japan, the United Kingdom, France, Germany and the Netherlands.
According to Mr Rachane, shipments for the textile and garment businesses for the full year are forecast at $7.67 billion, a rise of 10% over last year.
Dej Pathanasethpong, president of the Thai Garment Manufacturers Association, said increased exports were due partly to the fact that China, the world's leading exporter, was focusing more on the domestic market, notably to capitalise on business opportunities from the Beijing Olympics.
Mr Dej said China started feeling the pinch from higher production costs driven by rising costs of living and lower export subsidies from the government.
He forecast Thailand's textile and garment shipments would increase by up to 15% this year.
Shipments of travel gear, leather goods and shoes totalled $577.12 million for the first four months of this year, up 3.5%. The key markets included the US, Hong Kong, China, Vietnam, Denmark and Belgium. Mr Rachane forecast 5% growth from the sector for the year, to $1.83 billion.
The export outlook for gems and jewellery is also promising, with the department forecasting 10% growth year-on-year to at least $5.92 billion. For the first four months, the segment gained 76.7% to $2.29 billion.
Wichai Assarasakorn, president of the Thai Gem and Jewelry Traders Association, attributed the rise mainly to higher prices of gold, silver and diamonds, which were up significantly from the year before.
Mr Wichai predicted the sector would expand by up to 20% this year from $5.38 billion in export value in 2007.
He said Thai products had shown higher competitiveness than those of rivals, particularly India and China, where producers had been hit hard by rising wage costs.
Prev
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Next
