Today’s post comes courtesy of MPN Intertrade.
Times are tough. The economy has made business brutal for buyers and sellers alike where costs are skyrocketing and profits are dwindling. Even a country like China, which is known for its low-cost products and labor, has hindered export growth. Thailand also (only second to China in manufacturing and export in the region) faces a similar problem.
But wait, all is not lost. Thailand has been battling back ever since the flood in 2011 and now is home to a wide variety of innovative, low-cost, and profitable products for international importers, wholesalers and retailers.
Here are the top 5.
1. Gems & Jewelry
Renowned for its amazing craftsmanship, manufacturing, and designs, Thailand is one of the leading exporters of gems and jewelry. The industry is active in showcasing its products to the local and international markets with several events, public relations and marketing with the most popular being the Bangkok Gems & Jewelry Fair, which is held twice every year.
Whether you are looking to get your own gems or precious stones cut, designed and even polished, Thailand is the best place to get jewelry thanks to its low labor costs, skilled craftsmen and its proximity to major gemstone-producing countries.
2. Thai Silk
As the name aptly describes, it is a fine and high-quality fabric that is hand-woven, making it extremely unique. Thailand is home to a wide variety of ready-made garments as well as a selection of traditional Thai silk fabrics. The use of Thai silk is vast as it can create beautiful decoration and handicraft coverings, clothing, and sheets.
3. Food & Beverage
With an aim to be the ‘Kitchen of the World’, Thailand is one of the leading exporters of canned/frozen foods and ready-to-eat meals. Having a competitive advantage in food-processing technology and low-labor cost, there is no doubt that Thailand offers tasty, high quality, and affordable foods.
Apart from meals and food, there are plenty of exotic fruits, vegetables and beverages (juices, syrups, etc.) that Thailand has to offer the international markets.
More articles on the food & beverage industry:
4. Artificial or Fresh Flowers/Orchids
Thailand is populated with an enormous variety of fresh and artificial orchids as well as other types of flowers. The range of colors, styles, and designs make orchids a very popular purchase. Fresh flowers are specially wrapped with a water source when exporting and can last at least a week in containers till they reach their destination.
These fresh or artificial flowers are quite inexpensive and can be used for decorations, wedding ornaments or simply livening up your gardens.
5. Spa & Cosmetic Products.
The country’s cosmetic and spa industry is booming with Thais manufacturing their own brands and gaining popularity overseas. There is a huge recognition for products that follow health and safety standards so quality has improved, while prices remain relatively the same. Herbs such as extracts from lemongrass, turmeric, and mangosteen peel in particular have high potential for export. Much like the industry for gems and jewelry, buyers should look to attend the Health and Beauty Show this year.
Word of Caution: These products listed above are profitable due to their high-quality and low-cost, one thing this article does not account for is the cost of shipment and freight. Selecting the right freight forwarders is an important factor in business success and can make a huge difference in profit or loss.
Not sure of your forwarder? Hire a sourcing company – MPN Intertrade (Thailand) handles the A to Z of product sourcing and export. Contact us today.