Thailand’s shoe industry exports are estimated to reach 100 million baht (approximately 100 million U.S. dollars)

According to Thailand’s “World Journal”, Tan Long, advisor to the chairman of the shoe industry of the Thai Institute of Industry, said that the U.S. financial crisis has spread to Europe, but it is believed that Thailand’s shoe industry exports will still be 33 billion baht. Because we received a lot of foreign orders in the first six months of 2008, exports are expected to grow by 5%.
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Tan Long said that the impact of the U.S. financial crisis on Thailand may be seen in 2009, but the share of exports to the United States has decreased significantly, accounting for only 23% of total exports, with the European market accounting for 39% and other countries accounting for 38%.
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It is estimated that the export volume of Thailand’s footwear industry will not decrease in 2009 and may be the same as in 2008. The main reason is that the European market is developing well. Rival countries such as China and Vietnam are currently experiencing labor and energy shortages, giving Thailand an advantage in international trade.
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In addition, Europe has implemented anti-dumping measures and levied anti-dumping duties of 16.5% and 10% on the exports of shoemaking industries from China and Vietnam, allowing Thai footwear to gain an advantage in exports. However, domestic manufacturers still need to continue to find new markets, while improving production efficiency and improving product design to increase product value.