Thailand's printing industry could suffer contraction in 2014

BANGKOK, November 23 (TNA) - Thailand’s printing industry could suffer slight contraction in 2014 due to the local economic slowdown, said Kriangkrai Thiannukun, chairman of Printing and Packaging Cluster under the Federation of Thai Industries. Kriangkrai, also vice chairman of the federation, said the printing industry normally enjoys booming business before the year ends on printing orders for new calendars, greeting cards and various forms of printing. But banks, state enterprises and major corporations this year have cut orders by up to 20 percent while small and medium-sized enterprises suffer most as their orders reduced around 60 percent. It was estimated that the industry would stagger this year and could suffer contraction, with income projected at some 300 billion baht. However, the printing industry was expected to pick up pace in 2015 as the Thai economy bounces back on 3.5 – 4.5 percent growth, with the government heavily focused on economic stimulus and export policies. Meanwhile, major printing firms in Thailand’s have expanded business in neighbouring Vietnam and Myanmar to tap the ASEAN market, with a few others planning to penetrate markets in Cambodia, Indonesia and the Philippines. (TNA)