 Market Review of Thailand Plastics Industry
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Thai Toy Industry sets target for 2007
Export Value increase at 10%
Miss Duangjai Kusrivinit, the president of the Thai Toy Industry Association said that the value of the Thai toy export for the 11 months in 2006 was USD203 millions or ThaiBaht 7.74 thousand millions in equivalence, 12% increase compared to 2005’s
The export of Thai toys for 2007 is expected to expand to approximately 10% as customers trend to buy more toys of better quality. The new markets in Latin America region are including Mexico, Brazil, Chili and Argentina.
At present, Mexico sets its import tax barrier to ban toy products from China to as high as 350%. Toys from Thailand is then able to penetrate the Mexican market because more customers seem to turn to buy toys with better quality although the price of Thai toys are not as high as Japan’s or EU’s.
In addition, EU customers, rejecting cheap products of lower quality are placing their orders with Thailand while in USA, in spite of the slight economy slow-down, American parents are still buying high-quality toys. At present, there are toy manufacturers from Thailand setting up their ventures abroad so that they can directly import goods from Thailand to penetrate the local market and tese manufacturers usually make it a success there.
Moreover, the appreciation of Thai Baht currency since 2006 affected the export value of the exporters as they couldn’t work out the actual cost of the merchandises. They also faced the problem of having to bear the increasing cost as they can not alter the price that have been agreed upon before the appreciation of Thai Baht. For better competence of Thai exporter, the exchange rate of Thai Baht should be 38-39 Baht/USD.
(extracted from Plastic Journal March-April 2007) |
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Thailand Economic Overview
Bank of Thailand issued its press release on Economic and Monetary Condition for May 2007:
External Sector in May 2007: The trade balance recorded a surplus of 656 million US dollars. This was due to the export value of 12,839 million US dollars, equivalent to an increase of 19.9 per cent year-on-year. Export growth occurred in all categories:
- Manufacturing Production: The Manufacturing Production Index (preliminary) rose by 6.3 per cent year-on-year, let mostly by the export-oriented production. This included the production in the electronics and leather products categories. The Food category expanded well with the increase in sugar production
- External Sector in May 2007: The trade balance recorded a surplus of 656 million This was due to the export value of 12,839 million US dollars, equivalent to an increase of 19.9 per cent year-on-year. Export growth occurred in all categories, including the labor-intensive category which returned to expansion after a contraction in April. The value of imports totaled 12,183 million US dollars, growing by 6.2 per cent year-on-year.
JETRO believes Thailand Economics in the next half year will be brightened.
Mr. Yoishi Kato, JETRO president gave his view on Thailand economics that at the end of this year there will be a celebration for His Majesty the King’s Eighty Years Birthday Anniversary and the election for the new government will be implemented then the economics and the investment will be picked up. While Mr. Mutsumoto Testsuo, the president of K and U Enterprise which runs the Seafood export business said that as a business man, he is still be certain of doing business in Thailand because Thai government always cares for Japanese investors and gives priority to them whenever there were any urgent matter occurred. But what made him worried was the strong of Thai Baht. As soon as Thai currency is weaker than today, the Japanese investors will come to put more investment or expand more of their business bases.
(Extracted from Thansetthakij 24 - 27 June 2007) |
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Italy and Thailand strengthen their closer tie
Italy launches the big event to promote trade and investment in Thailand
Mr. Ignazio Di Pace, Italian Ambassador to Thailand revealed of trade connection between Thailand and Italy during the past 5 years that its growth rises in an average of 20%. In the year 2006, the trade value between the two countries was increased 20% or 3,000 million USD (102,000 million Thai Baht). The import value from Italy was 1,468 million Baht and for 2007, at the beginning of the year, Italy-Thailand trade value is growing to 23.81% comparing to the same period of last year.
In 2006, Italy exported its merchandises to Thailand in the second rank comparing to Germany and other EU countries. For investment, Italy has many various industry segments and divided into many clustering groups. Meanwhile, Thailand also supports the clustering of industries so the policy is in the same way. For the Italian investors that are likely to move to Thailand, many are in the industry segments of Jewelry, Textile, Metalworking, Packaging, Electric parts and eyeglass lenses.
(Extracted from Thansetthakij Newspaper) |
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