After two years of decline, exports of gifts, premium and decorative items are expected to grow in 2017 by 2% to 24.5 billion baht. According to Thai Gifts Premium & Decorative Association, the return to growth this year will be spurred by rising gift and decorative products export to the ASEAN market and the expected shift of orders from China.
The first ten months of 2016 saw an increase in demand for gifts, premium and decorative products from Vietnam, the Philippines and Indonesia. Demand increased by 33%, 22% and 20% respectively. There was also a significant increase in export value to Japan. The export of said items grew higher than what was initially predicted.
ASEAN demand has never grown at a double digit rate before but now, it is the 3rd largest market of Thai gift and decorative products. The United States is the largest importer of Thai decorative and gift products followed by Japan and the ASEAN. The association is confident that it will reach its full-year export growth target this year. However, the global economic downturn particularly in the US and China including fluctuations in currency exchange recorded a 2% reduction in export value for the first 9 months of the year.
In order to continue with its growth momentum in 2017, the association plans to change its export strategies for Thai gift products. Gift and premium products will be promoted at several tourist destinations like theme parks, zoos and museums to take advantage of the opportunity provided by the tourism industry. In previous years, manufacturers only focused on modern trade retailers and chain stores.
Thai manufacturers are also upgrading their facilities and production processes with the latest technologies. More producers are expected to follow suit so that international standards will be met by next year. Thailand will also be promoted as an ASEAN hub for gift design and business matching for designers, traders and producers.
Millions of tourists visit Thailand every year. Aside from the usual tourist destinations, a visitor has an option to experience diving with the help of Thailand Dive and Sail. The trip will be arranged according to requirements so that a visitor will be able to enjoy the beauty of the underwater.