THAILAND: Garment exports decline 10.34% in H1
Thailand's garment exports have fallen 10.3% to $1.48bn in the first half 2012, according to the statistics released by the Thai Garment Manufacturers Association (TGMA).
The year-on-year slump is largely due to reduced shipments to its two major markets, the US and EU, which fell 15.18% and 20.61% respectively to $497.5m and $409m.
Within the EU, Belgium is the biggest market, which rose by 5.57% to $71.35m. But this was offset by declines in shipments to Germany, which fell 24.0% to $69.5m, and the UK, which dropped 32.7% to $56.9m.
In contrast, Thailand's garment exports to major markets in Asia enjoyed strong growth during the period - including Japan (up 30.2% to $180.4m), ASEAN countries (up 40.3% to $78m, and South Korea (up 78.3% to $19.m).
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