According to Thailand’s “World Journal”, Thai textile product exporters pointed out that the depreciation of the Vietnamese dong has made domestic manufacturers unable to compete with it. Exports are expected to decrease in the next 3-5 months, and manufacturers must lower export prices to compete with Vietnam.
Bang Luo, secretary-general of the Thai Textile Industry Association, said that the Vietnamese dong has depreciated by 5%, and domestic exporters can barely compete with it. They are currently exporting based on previous orders, but they are afraid that exports will decrease in the next 3-5 months. If the Vietnamese dong depreciates by 10% in the future, domestic companies must reduce prices by 5% to ensure competition; if the Vietnamese dong depreciates by 20%, importers may give priority to importing from Vietnam.
