The output and export volume of Thai textile companies have declined

According to a report by Thailand’s “The New Paper” on May 14, 2013: The director of the Office of Industrial Economics of the Ministry of Industry of Thailand said that the output and export volume of Thai textile companies in 2013 declined due to four reasons, namely: 1. The production cost of the textile industry has increased. This phenomenon is the negative impact of Thailand’s minimum daily wage policy of 300 baht; 2. The lack of labor; 3. The appreciation of the Thai baht; 4. Economic problems in the European and American markets. The Office of Industrial Economics predicts that Thailand’s total exports of textile products will reach US$2.448 billion in 2013, a decrease of 3.41% compared with the same period last year. As for the output of ready-made clothes, the cumulative output for the whole year is expected to reach 18.7 billion pieces, a decrease of 2.7% compared with the same period last year.