The Thailand Garment Industry & Economy

Where the economy is concerned, ThailandÆs GNP and GDP (gross domestic product) will be analyzed, including major business and trading partners, imports and exports, trade deficits and/or surpluses. Where trade is concerned, many aspects will be discussed. First, the types of regulations and agencies within Thailand that monitor trade will be illustrated. This will be followed by a discussion of current international situations, agencies and legislation affecting ThailandÆs economy and the garment industry

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ome the aforementioned barriers to economic growth. Thailand Garment Industry The Thai garment industry is very important in helping with the economic development of Thailand and its transition from an agrarian to an industrial society. Even though it employs only ten percent of the overall labor force, ThailandÆs garment industry accounts for more than 12.5 percent of total GNP. The top ten garment companies in Thailand all have foreign interests, and Thais depend on the United States for most of their raw material imports, especially where cotton is concerned. Exports of textiles and garments by Thailand were forecast to grow approximately 13 percent in 1992 to approximately $4 billion (100 billion baht) (Bangsberg, September 25, 1991, p. A4). However, these figures represent a slowdown from recent years. For example, in 1990, overseas sales grew 14 percent over 1989, but in 1989 exports jumped 40 percent over 1988 figures. This shows the dramatic leveling off in the early 1990s of the Thai economy overall, and the amazing boom years of the late 1980s. The Thai governmentÆs business economics department says the slower growth lately is due to a couple of factors, namely recession hit markets and a sharp climb in local dema
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Some common words found in the essay are:
Bangsberg September, Miller June, Japanese Thailand, Kelly April, Investment BOI, According Thai, Khmer Rouge, China Thai, Stier March, Industry Thai, garment industry, thai economy, border trade, thailand garment industry, june 18 1990, miller june 18, 18 1990, september 25, journal commerce, miller june, ten percent, 25 1991, september 25 1991, bangsberg september 25, bangsberg september,
Approximate Word count = 4366
Approximate Pages = 17 (250 words per page)