BANGKOK, 4 May 2011 – Exports of Thai lifestyle products are flourishing thanks to the global economic recovery; the sector is expected to grow by as much as 12% year-on-year this year despite the twin disasters in Japan.
According to Thai Lifestyle Products Federation Secretary-General Jiraboon Vidhayasingha, last year’s export of Thai lifestyle products, especially for textiles, toys, stationery, and furniture, was valued at 3.3 billion US dollars, or equivalent to 95 billion baht,.
The rise of lifestyle products export is attributed to the global economic recovery and rising trade activities in ASEAN, which have led to a sharp increase in purchase orders despite the fact that the products are considered luxury goods. The US alone accounts for 30% of the total exports. The twin disasters in Japan have not damaged the sector either, said the Secretary-General.
In addition, entrepreneurs in the sector have not been affected by the appreciating trend of the Thai baht since they have already increased their product prices in tune with the expected exchange rate, and are therefore not affected.
Entrepreneurs however are worrying about the domestic political instability and having problems regarding access to capital.
