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| Thailand expects positive growths in fashion industry |
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Thailand earned US$17.628 billion from fashion exports in 2009, a moderate increase of 2.24% from 2008, according to the country's Department of Export Promotion (DEP). Of which, US$6.443 billion (-10.5%) came from the textile sector; US$2.961 billion from apparel (-15.53%); US$1.422 billion from leather goods, travel kits and shoes (-19.7%); and US$9,761 billion from gems and jewelry (+18%).
Following an export slowdown in 2009 due to global economic downturn, Srirat Rastapana, Director General of DEP at Ministry of Commerce of Thailand, expected recovery this year.
Fashion exports for 2010 are projected at US$20.315-20.999 billion, or a 9-13% growth. The textile sector is expected to earn US$7.058-7.205 billion, up 10-12% from 2009. Apparel exports are estimated to grow 10-15% to US$3.238-3.386 billion, while export of fabrics and yarns is likely to make a 10% improvement, or US$3.819 billion. For leather goods, the export value is forecast to grow 0.98% to US$1.429 billion. Export of gems and jewelry is expected to increase by 10-15% to US$11.826-12.364 billion, with reference to DEP's projections.
A major contribution to this positive growth figure is that the government and private sectors are joining forces to extend competitive advantages and promote sustainable development in the Thai fashion industry on its course to stand out as ASEAN's fashion center, said Mrs Srirat.
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