It is expected that Thai electrical appliance exports will improve in line with key trade partner economic recoveries in 2013. Currently, ASEAN is the largest export destination for our electrical appliances and this should grow with the coming of AEC in 2015. It is expected that air conditioners, refrigerators and related components will help drive our electrical appliance exports this year. However, the industry will have to observe extra caution toward external risks, e.g., the Eurocrisis and US fiscal negotiations, as well as internal risks such as the new THB300 national minimum wage, plus a stronger Baht and labor shortages.
We at KResearch project that the value of Thai electrical appliance exports in 2013 will reach perhaps USD24.1-24.9 billion, up 5.5-9.0 percent YoY.
ASEAN will take the lion's share of such exports, likely around 18.7 percent of them, valued at USD4.65 billion, up 14.9 percent YoY. Significantly, exports to Cambodia, Laos and Myanmar should grow 16.7 percent YoY to USD450 million. Over the medium term, the Thai electrical appliance industry should continue to be driven by foreign investments, but competition for such investments within ASEAN will likely intensify amid a less favorable investment climate. As a result, the BOI's new investment promotion policies should help support the Thai electrical appliance industry ahead.
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