Thailand's wearing apparel exports to Indonesia are forecasted to slightly decline from USD 13.666 million in 2024 to USD 13.634 million in 2028. When examining year-on-year variations, there is a negligible decrease, exemplified by a 0.06% drop each year. The compounded annual growth rate (CAGR) over these five years is negative, indicating a slow yet consistent decline.
In comparison, the actual value for 2023 stood higher, showing a trend towards gradual reduction. Key factors for this trend could include emerging competition, shifts in consumer preference, and economic conditions both in Thailand and Indonesia.
Future trends to watch for include:
- Market adaptations to new fashion trends.
- Trade policies affecting Thailand-Indonesia relations.
- Technological advancements in textile manufacturing.
- Economic indicators influencing consumer purchasing power in Indonesia.
