December 18, 2008
BANGKOK (AFP) - Thai electronics goods exports are likely to be stagnant next year due to a slowdown in orders caused by the global economic crisis, an industry body said Wednesday.
Katiya Greigarn, chairman of the Federation of Thai Industries' Electrical Electronics and Allied Industry Club, said export growth in 2009 was likely to be around zero percent.
"We have seen some signals of little growth for next year. Those include a drop in exports in certain sectors in the last quarter this year and shortened contract orders for next year," Katiya said.
"That reflects changes due to the global economic crisis."
Currently around 90 percent of electric and electronic goods manufactured in Thailand are for export while the rest are sold in domestic markets, he said.
The industry projected exports in 2008 at 1.6 trillion baht (43.48 billion dollars), up 10 percent from the previous year, but similar growth in 2009 is unlikely as electric goods exports started slowing down in October.
The top market for Thai exporters was Europe this year, but next year they were likely to target China, India, Southeast Asia and the Middle East where higher growth is forecast, Katiya said.
Atchaka Sibunruang Brimble, secretary general of Thailand's Board of Investment, said the country's electric and electronics goods had suffered from a 30-50 percent drop in export orders this month.
"This crisis is happening fast and fiercely. It is likely to drop further although the severity of the problem is different in different sectors," Atchaka said.
Exports account for about 60 percent of the Thai economy, with the country's major markets in the United States, Japan and the European Union.
