Thai garment exports are expected to increase by 5% over last year

It is reported that from January to April 2013, Thailand's garment exports dropped by 5% year-on-year, mainly due to the impact of the sharp appreciation of the Thai baht exchange rate and the global economic slowdown.

Song Ba said that if the exchange rate of the Thai baht is depreciated to a level of 31 baht against the dollar, and companies continue to strengthen their investment in garments, it will help export growth of garments. Thailand's garment exports in 2013 are expected to increase by 5% compared with 2012's 898 million baht.

Looking at the overall situation of Thailand's textile and garment industry, after experiencing the period of rising operating costs resulting from the increase in the minimum daily wage, the current competitiveness and adjustment power of manufacturers have increased, and the overall output has increased significantly.

Some of the companies are investing in neighboring countries, including Laos, Myanmar, Cambodia, and Vietnam, because of the low labor cost in these countries, and the average daily salary per person is only about 100é“¢.

Song Ba suggested that Thailand's textile and garment enterprises should introduce new and high technologies to increase the added value of their products and still be able to compete in the market after the formation of the ASEAN Economic Community (aEC). Take Thai silk as an example, you can increase the added value of products through the introduction of nanotechnology or adding flavor channels.