In The First 5 Months Of This Year, Garment Exports In Panama Declined By 43.3%

　　 Panama This (2014) 5 months ago, the amount of exports amounted to US $324 million, a decrease of US $19 million 700 thousand over the same period (2013), and a 5.7% decline. The main reason for the export decline was a sharp decline in the volume of exports of gold, a decrease of 40 million 800 thousand US dollars over the same period last year and a decline of 97.5%.

According to Ba state Audit Administration (Contralor, a General) data show that in the first 5 months of this year, the products with larger export decline still include coffee (-44.6%), Ready-made clothes (-43.3%), cantaloupe (-25.0%), pineapple (-20.0%) and watermelon (-6.5%); the products with larger export growth include fish (54.2%), shrimps (32.7%) and coarse sugar (11.1%).

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Yuptaya, President of Thailand garment business association, said that Thailand garment manufacturers adjust themselves to adapt to international competition, and strengthen their own advantages, such as manufacturing more sophisticated production, to adapt to diversified markets, products from high-end to mid-range, and cloth production is the most diverse in the world, while strengthening development, training talents and production processes to upgrade to a more modern level, making some clothing brands in Thailand gradually become famous in Southeast Asia.

Yu Tai Ya said that at present, Thailand's 20-30 self created brands have become more popular in the ASEAN region, and are the largest number of self created brands in ASEAN countries before the ASEAN economic community was formally completed in 2015.

However, Thailand's clothing brands are still inferior to Singapore and Malaysia in terms of market competition. The number of ready-made clothing brands in these 2 countries is less than that in Thailand, but the number of branches in the ASEAN region is larger than that in Thailand, and the market visibility is larger.

Thailand garment manufacturers have only recently realized the need to explore the ASEAN market in recent years. However, the pace of development is relatively fast. It is confident that this year's clothing brands in Thailand will compete with other brands in the market. Thailand's clothing design is diversified and the quality of sewing is good, especially in Burma, Laos, Kampuchea and Vietnam.

OEM, which has undertaken foreign orders, has also recently made efforts to adjust its business strategy, enhance the diversification of processing products, upgrade processing technology and upgrade processing equipment, and transfer production plants to neighboring countries to reduce labor costs and make use of the preferential tariff treatment rights of neighboring countries. For this reason, 21 garment manufacturers in Thailand have set up 29 garment processing plants in their neighbouring countries.