BANGKOK, 8 Dec 2014, The Federation of Thai Industries (FTI) has said the nation’s garment exports will grow significantly next year.
Vice President of the FTI and Advisor of the Thai Garment Manufacturers Association Wallop Wittanakorn attributed the predicted growth to the recovering U.S. economy.
The US recovery will likely lead to the nation’s placing more garment orders from Thailand, offsetting the declining demand from Japan, according to Mr.Wallop, adding that demands from South Korea and Hong Kong would also increase on-year. However, exports to the EU might take a dip thanks to the expired Generalised System of Preferences(GSP), which reverts the reduced export tax of 2.4% back to 12%.
The FTI Vice President also predicted that women’s dress shirts, shirts with environmental messages printed on, highly ventilated clothing, and clothes made from recycle materials would be in trend next year.