Exports of Thailand's home textiles comprise a variety of goods that are used to furnish homes and residences in bedrooms, living rooms and kitchens. These goods include such items as bedsheets, pillowcases, blankets and bedcovers, curtains, table linen, wall coverings, carpets, etc. Exports of home textiles to the US in the 10-year period between 1997-2006 showed an average growth rate of 16.3 percent per annum. In 2007, the export value is believed to have decelerated from the slight growth of only 2.4 percent in 2006. In 2008, it is expected that the export value will continue to fall from last year, partly due to the problem of the steadily stronger Baht that has boosted the advantage of Thailand's competitors, e.g., China, India and Pakistan in the US home textile market. Another important reason is that consumer purchasing power is weakening there as their economy slows, as well as the weaker USD that has forced American consumers to be more careful in their spending, being more frugal with such purchases as home decorations.
This factor will inevitably affect Thailand's overall home textile exports because the US market is the first-ranked export market for Thai home textiles, exhibiting a proportion of around 38 percent of out of the entire export value of around USD350 million. Thai exporters of home textiles should seek new distribution channels in other markets, particularly markets that have high populations and are showing high purchasing power – such as the European Union – and markets under FTAs with Thailand, such as Australia, Japan and China.
China, in particular, has experienced the remarkable economic growth rate for many years, which, in effect, has increased the proportion of middle-income and affluent citizens. On top of that, China will host the next summer Olympiad in August 2008. It will boost high demand for home textiles for decoration of hotels and buildings to accommodate a large influx of foreign visitors to China.
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