Thailand’s textile industry exports are estimated to rise %

According to Thailand’s “World Journal” report, Thailand’s Minister of Industry Pracha pointed out that Thailand’s textile industry plays an important role in economic development, with an average annual export volume of up to 240 billion baht.
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Dean of Thailand’s textile industry, Wei La, said that although economic and financial problems have currently occurred, it is still expected that the export value of the textile industry in 2008 will increase by 10%. Textiles are a necessity of life, with a total value of 7.77 billion US dollars.
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Weirat revealed that the export trend in 2009 can only be assessed after observing the situation in the first quarter of 2009, but it is predicted that Thailand will benefit from the US policy of strictly supervising Chinese imports. After European countries strictly controlled imports from China, merchants turned to buying from Thailand, and China is also Thailand’s export market.
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Wi La said that before the US financial turmoil occurred, the export value of textiles in 2013 reached US $ 12 billion in 2013, and increased the expansion of the ASEAN market.
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​​ ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ out of Taiwan, South Korea, Japan, and China import textiles from abroad, the total import volume reaches 1 billion US dollars. If Thailand can increase its market share, it will increase Thai textile industry exports.
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Willat said that under the current situation, he believes that there will be no layoffs in the Thai textile industry. The Thai textile industry as a whole still lacks 30,000 skilled workers. Currently, there are about 700,000-800,000 workers in the textile industry. Market news points out that 180 textile factories have closed down since 2008, but as many as 190 new factories have been established.
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The reasons for the closure of textile factories vary. For example, factory owners are unwilling to adjust themselves to cater to the market, and are unwilling to adjust trading methods, etc., resulting in factories being unable to compete with other factories. Factories must invest in high-tech machinery to produce high-quality goods.