Textile exports to improve

Textile and garment manufacturers are optimistic of achieving dramatic export growth due to higher selling prices this year.

After meeting Industry Ministry permanent secretary Chakramont Phasukavanich yesterday, Garment Manufacturers' Association president Dej Pathanasethpong said textile and garment exporters could raise their selling prices for their year-end orders by 3 to 4 per cent after manufacturers in China lifted their prices by more than 10 per cent.

We could not raise our prices in the past five years because of fierce competition, particularly from China, whose share of the global market is 37 per cent. However, I believe high inflation around the world will continually push up product prices, he said. In the first four months, exports of textiles and garments were worth US$2.309 billion (Bt74.55 billion), an increase of 8.6 per cent from the same period last year.

The export growth target this year is around 12 per cent.

Source:nationmultimedia.com