According to recent news from Thai media, Thailand’s economic downturn has extended to the garment export industry. According to the latest export statistics from the Thai-Malaysian clothing market, clothing exports this year did not reach the previously expected growth target of 15%. The clothing wholesale and retail business in this market was affected by the economic recession, resulting in the full-year sales target falling short of the 30 billion baht target, with sales revenue of only about 25 billion baht.
The chairman of the Malaysian Clothing Export Service Center said that this year the center’s garment export business suffered from the impact of domestic political turmoil at the beginning of the year and the global economic downturn, resulting in this year’s garment exports being unable to reach the expected growth target of 15%, about 30 billion baht. Data show that this year’s clothing exports can only achieve the target of 25 billion baht, unable to reach last year’s level of 28 billion baht. As for the situation next year, he said that currently the main customers in the Malaysian mother market are mainly from ASEAN countries, such as the Philippines, Malaysia and neighboring countries bordering Thailand. Thai clothing can be said to be highly competitive in terms of quality, quality, and market. In particular, Thailand’s advantages in design are even more obvious. 15% of Thai clothing is exported to the EU, and the export price per piece is around 200 baht, but the retail price may increase by 400%.
