Floods see govt cut 2012 export growth target Skip to main content

Floods see govt cut 2012 export growth target

The Nation October 15, 2011 11:04 am

The severe flooding has prompted the Commerce Ministry to revise downward its export growth target for next year from 15 per cent because of damage to many industrial estates and the logistic systems.

Anchalee Promnart, deputy director-general of the Department of Export Promotion, said the serious floods would lower exports in the first quarter next year, as many enterprises have suspended their operations and shipments.

The financial crunch in Europe and economic problems in the United States are also expected to contribute to lower trade growth in the global market and affect Thai exports next year.

The department will soon call for a meeting with exporters and producers about export targets and promotion strategies for next year. It will also seek remedies for enterprises affected by flooding, she said.

Anchalee said Thailand should still achieve its 20-per-cent export-growth target to US$230 billion (Bt6.9 trillion) this year.

In addition, Thailand's high-profile health and beauty industry is expected to see exports rise 20 per cent to more than Bt130 billion this year as awareness grows of health and beauty products and recognition increases of the quality of Thai products and services.

Ketmanee Lertkitcha, president of the Thai Cosmetics Manufacturers Association, said that because of high competition in the cosmetics market, Thai manufacturers are trying to create their own quality-brand products to attract foreign buyers.

"Manufacturers are trying to adapt quality herbs and plants into our products, as foreign customers are paying more attention to natural products with special physiological actions to benefit health," she said.

Nahkah Tawichawatt, vice president of the Herbal Industry Club of the Federation of Thai Industries, said Thai herb producers will next year focus more on promoting herbal and supplementary products overseas after focusing on the domestic market.

The herbal products trade is expected to grow to Bt90 billion next year, from Bt80 billion this year, he said.

To promote Thai health and beauty products, the Commerce Ministry will host the "Thailand Health and Beauty Show 2011" at Bitec from October 30 to November 3.

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