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Lifestyle products see decline in export values from last year

The export of lifestyle products from Thailand this year is expected to grow 3 per cent from the value of almost Bt400 billion last year, according to the Export Promotion Department’s forecast.



However, the growth this year will be lower than for last year’s 6.6 per cent as the global economy is slowing down, said the department’s director-general, Banjongjitt Angsusingh.
She added that lifestyle products are one of the country’s key categories of exports, accounting for 4.8 per cent of total exports. Exports within this product category, which includes travel kits, leather goods, toys, stationary items and kitchenware, have enjoyed continued expansion.
Their key markets are the US, Japan and China.
The country’s export value of lifestyle products in the first four months of this year was US$3.9 billion (Bt120.3 billion), down 0.67 per cent year on year. The US-China trade war has had a positive impact on Thai exports of lifestyle and fashion products as sales to the US were boosted.
 The Kingdom’s exports of lifestyle products, such as clothes, gloves, travel kits and furniture, to the US rose 12 per cent in the period.
The department will hold the STYLE Bangkok fair this year during October 17-21 at Bitec Convention Centre. The fair is among the leading lifestyle products events in Asia and features both local and international products.
The highlights of the fair are expected to include “eco” products, “eco-friendly” raw materials, as well as products some believe bring luck and prosperity to life. The event will target 50,000 visitors from 70 countries and is expected to ring up sails of at least Bt2 billion.

Published : June 23, 2019

By : The Nation