The Thailand Textile Institute has announced a drop of 15% in textile and clothing exports for the first half of the year.

Between January and June exports reached $3.058 billion, below the level attained in the first half of 2008. Textiles have been affected the most with a total $1.58 billion, down 16% with clothing exports down 13.9% to $1.47 billion.

Thailand has been particularly hit by the recession. Declining consumption in the USA, Thailand’s leading client, has led to imports shrinking by 27.55% to $702.1 billion. With $584.4 million in imports the European Union has lowered its intake by 12.86%. Southeast Asia itself has reduced orders to a value of $447.5 million, down by 12.22%.

By Jonathan Fulwell (Source: Matthieu Guinebault)