Flood Crisis: Dragging Thailand's Textile And Garment Industry Into A Serious Recession

Thailand textile Clothing industry It is one of the industries affected by catastrophic floods as an important textile product. clothing The central part of the production base in Thailand has been ravaged by huge floods, which not only caused local manufacturers to suffer losses, but also had a combined impact on downstream industries. The number of textile and garment factories affected by this catastrophic flood accounts for 51.4% of the total number of textile and garment factories in Thailand. Most of them are located in Bangkok and surrounding prefectural governs, of which clothing accounts for the largest proportion, followed by spinning, weaving and home textiles.

The Thai Farmers' Research Center believes that there should be a lot of them. Order In the fourth quarter of 2011 for the next quarter of sales, Thailand's textile and clothing exports will be significantly hit by the large scale floods in China, resulting in lower export volume than originally predicted. In addition, Thailand's textile and garment industry is likely to lose business opportunities in the international market, because the major trading partners will transfer some of their orders to other competitors in the region with equal production quality, such as Indonesia and Vietnam, which are equal to Thailand.

The above factors will lead to an increase of 3.0-5.0% in Thailand's textile and clothing exports in 2011 compared with the same period last year, to $79-81, while the growth rate in 2010 was 19.1%. Badly hit products will be ready-made garments, yarns and fibers. As for the trend in the first half of 2015, textile and garment production and exports are expected to recover in the first and second quarters after manufacturers recovered from the floods. However, if the recovery takes a long time, the relevant industries may have to look for other production bases or turn to rely on imported commodities.

The next stage must follow the flood situation in the western part of Bangkok until the Samut Sakhon government as a way to release the flood. As most of the textile and garment factories in the middle and lower reaches, such as the production base of dyeing, textile and garment factories, may increase the number of disaster hit factories, which will lead to the worsening export of textile and garment industry.

In addition, another difficult economic measure is the loss of business opportunities and competitiveness, that is, the capacity loss during post disaster reconstruction is the same as that of competitors being taken away from trading partners, especially in the competitive textile and garment industry.