A recent downturn in exports has provoked 25 industry sectors to rethink their production strategies, the Federation of Thai Industries (FTI) has revealed. Key industries affected and readjusting include steel, machinery, construction materials and furniture, all of which significantly cater to the markets in Asia, the European Union and the United States.
The FTI recently unveiled the results of a survey involving 201 company executives and FTI members. The findings showed that of total exports, more than a third (36.2%) were dispatched to Asian markets outside of ASEAN. This was followed by ASEAN (27.6%), the EU (12.4%), and the US (11.4%). Kriengkrai Thiennukul, the FTI Chairman, said…
“The companies are shifting gears in response; some are limiting production while others are reducing work shifts and overtime.”
This strategic shift…
