Thai textile and garment industry believe the industry will be able to withstand the U.S. economic crisis and a global recession next year at least 2-3% growth.

Thai garment enterprises Dej Pathanasethpong Association, said: “We still believe that the garment industry to maintain export growth, although the vision of the world economy in the doldrums, but the export industry is expected to reach 8,000,000,000 U.S. dollars.” He said that ASEAN and Japan, export growth is expected to make up for Large export markets such as the United States and Europe reduced.

This year, the world’s garment industry output value of about 700,000,000,000 U.S. dollars, of which the United States and the European Union accounted for 55%. As the two giants of economic weakness in the economy, the global market has shrunk by 10%.

As for the production, supply the world demand for Asia’s 75-78% of the total supply of Chinese goods 35%, followed by the ASEAN, accounting for 20%, India and South Asia account for 17-18%.

He said the most affected manufacturers may be located in North Africa, Central and South America, as well as businesses, many of the United States, France and Italy in the local investors to invest.

Once they start their own companies at risk, those investors in other countries have to cut capacity or temporary closure of the enterprise. Purchase orders will flow to companies in Asia, export-led growth in the region.

He pointed out that the Chinese textile and garment industry in trouble because of tight labor, wages, leading to the closure of the production of a number of mainland enterprises.

He said: “The worst-case scenario is that industrial growth was flat. But we still believe that the industry will grow this year, Asian countries such as Vietnam and China have begun to import fabric Thailand because Thailand cloth design more advanced.”

He predicted that this year, Thai textile and garment exports to grow 7-8% to 7,800,000,000 U.S. dollars. Domestic consumption in about 1,000 billion baht, is expected to continue to be strong, particularly in the rural population, due to the high prices of agricultural products, to increase their income.