Luxury goods imports boom in first quarter
The Commerce Ministry is planning stringent import restrictions on luxury goods after imports of expensive products skyrocketed to more than Bt100 billion in the first four months of the year.
Rachane Potjanasuntorn, director-general of Foreign Trade Department, said yesterday that imports of electrical appliances jumped 43 per cent in April. In addition, various kinds of goods from China also flooded into the Kingdom. The department will closely monitor imports of luxury goods. Luxury-goods imports rose 13.7 per cent to US$2.87 billion (Bt110 billion) during January to April. In April alone, the value increased 10 per cent to $715 million. Major import goods included electrical appliances, miscellaneous equipment, medical goods and pharmaceuticals, watches and parts and home decorative items. "We will closely monitor all imported goods to facilitate an assessment of why imports are high. We wonder why some goods can be produced in the country and why consumers prefer to buy imports," he said. Rachane added that the Commerce Ministry would coordinate with the Agriculture and Cooperatives Ministry, Customs Department, Food and Drug Administration and Industrial Standards Office to closely monitor all imported products. The information will help concerned agencies to draw up protective measures.
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