Exports of Thailand-Made Plastic Products Are Expected to Hit US$3 Billion This Year

Exports of Thailand-made plastic products are expected to hit US$3 billion this year, according to a report on August, well exceeding the amount of US$2.3 billion last year. The economic value of the plastics industry as a whole will be over 300 billion baht, accounting for about 3% of the country's GDP. The report said two leading plastics raw material providers, SCG (Thailand) Co. Ltd and PTT Public Company Limited, have recently announced an increase of production to meet the rising demand for plastics from ASEAN and China. Thus, Thailand will provide 500 million tons of plastics each year, becoming the largest supplier in Asia. It is the country's strategy to expand its market share before the set up of AEC in 2015, according to the report. Khun Veerasak Kositpaisal, Chairman of the Federation of Thai Industry Plastic Industry Club, was quoted in the report as saying that the industry is facing a shortage of labor supply. He hoped the government can promote research in the plastics industry as well as provide technical training to the workers, the report stated. Source: plasticsnews.com