Thailand textile export sector sees bright perspective in 2014

The Thailand textile export performed well as it possessed competent textile production technology that enabled to fulfill demands from new ASEAN markets as well as recovering markets in China, Europe and the U.S.

Thailand textile export sector sees bright prospects in 2014 year with the bringing in of advanced textile production technology, according to the Thailand Textile Institute (THTI).

According to Ms. Suttinee Poopaka, the Director of the THTI, the industry produced 7 billion U.S. Dollars’ worth of products last year, expanding by 3.6%. She indicated the figures comprised an 8% export growth and a 2 % contraction in the fabric sector. The latter suffered mainly because of the nation’s ailing economy.

As for the 2014’s textile outlook, the industry has a potential to expand 7-8%, citing demands from trading partner countries as the major driving factor, the director said.

However, a negative factor influencing the sector at the moment is local politics, which accounted for a 30% drop of the orders during the months of October to November.

Thailand and Indonesia are the only 2 ASEAN nations that have a one-stop service for textile, offering thread, clothes and fabric production. But, Thailand has an edge over the production technology and customization while Indonesia excels in mass production.