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Thailand Experiences 20% Decline in Low-Quality Chinese Imports, According to Officials
Thailand’s low-quality imports, primarily from China, have dropped 20% due to stricter regulations and taxes. However, some businesses still struggle, facing significant sales declines amid ongoing competition.
Thailand has seen a significant 20% decline in low-quality imports, particularly from China, following regulatory measures aimed at protecting local businesses. The influx of cheap Chinese goods had previously caused factory closures and job losses, prompting the government to take action.
Government spokesperson Sasikarn Wattanachan noted that stricter regulations implemented in July led to a considerable reduction in the import value of substandard goods. These efforts targeted agricultural, consumer, and industrial products. Additionally, officials seized 506 million baht worth of counterfeit items, including apparel and e-cigarettes.
Despite these measures, some businesses feel the response was delayed. Banchob Pianphanitporn, owner of Ben’s Socks, reported an 80% drop in sales, with customers opting for cheaper Chinese alternatives. The government plans further support for Thai businesses, including requiring foreign online companies to register and pay a 7% value-added tax (VAT).
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