BANGKOK, 17 Feb 2014, According to the Thai Lifestyle Products Federation (TLPF), the lifestyle goods industry this year can expect to generate 100 billion baht in revenue, an increase of 5% compared to the figures in 2013.
The projection is the highest in five years, said TLPF’s Secretary Jirabul Wittayasingha, adding that positive factors include the economic recovery of European countries and America, as well as the weakening of the Thai baht which is now in a range of 32-33 baht against the greenback. He said that the United States contributes 25% to the overall exports sector.
Mr. Jirabul continued that Thailand’s lifestyle goods industry also benefited from the current disputes between Japan and China as well as between Australia and Indonesia that have seen declines in trade to and from those countries.
The TLPF Secretary however said that the only negative factor that investors should look out for is political instability, adding however that the agency has advised manufacturers to explain the situation to their trading partners in order to reassure them.
Thailand is currently offering a wide range of lifestyle products, including souvenirs, items of home decoration and furniture, as well as household appliances, toys, stationery, and office supplies.