Global recession hits Thailand’s key export sectors

Global recession is taking its toll on Thailand’s exports too. The industry sources have warned that Thailand could lose up to 1 million industrial jobs over the next several quarters. Recession has badly hit the Thailand’s key export sectors such as garments, electric and electrical appliances, ceramics and furniture. According to Thaveekij Jaturajarernkul, chairman of the labour committee and the Federation of Thai Industries, export orders are expected to fall by 30 per cent next year.

“Consequently, 15 to 20 per cent of the workforce is expected to be laid off at the start of 2009,” he told The Nation newspaper.

Industry currently employs about 6 million people in Thailand. Many Thai factories are already operating five days a week instead of the previous six as a result of declining export orders this year, said Thaveekij.