Thailand is ready to become the production hub for electrical appliances following the upcoming launch of the ASEAN Economic Community (AEC) and improved signs of exports to US and Japanese markets.
Nantawan Sakultanak, director-general of the International Trade Promotion Department, said the value of electric appliances exports reached over US$6 billion. She believed the sector’s export this year will reach its target of a five-per cent expansion.
She said the export trend for electric appliances this year should adjust positively compared to last year, as the world’s economy this year expanded higher than last year, while US and Japanese markets have started to pick up with better purchasing power and Asian economies have seen signs of improvements.
Thailand has set a goal of electric appliances exports this year at US$24.1 billion or a 5 per cent expansion. In Q1, the country could see a growth of 4.9 per cent export in the business worth US$5.8 billion.
Items to be exported more in June and July this year are television sets and digital television sets due to the upcoming World Cup tournament next month. The market share for Japan, US and China together account for 35 per cent, while markets with high growth potential are the United Arab Emirates, Singapore, Vietnam and South Korea.
