Over the past decade, the import of bulbs, tubers, corms, and chicory plants to Thailand has experienced significant fluctuations. From 2013 to 2018, there was a sharp rise, peaking initially in 2014 with a nearly 100% increase, followed by a notable decline in 2015. The upward trend resumed, culminating in an impressive growth of almost 94% in 2018. However, the following years saw more stability with smaller, steady increases averaging around 4% year-on-year from 2019 to 2023.
In 2023, the import value stood at $1,176.1 thousand USD, showing a 3.63% rise from the previous year. Over the past five years leading to 2023, the average annual growth rate (CAGR) was approximately 0.93%. Projections indicate a continued gradual increase, with the import value reaching $1,370 thousand USD by 2028, reflecting an expected 5-year CAGR of 2.41%.
Future trends to watch for:
- Potential effects of global trade policies and tariffs on Thailand's import patterns.
- Advancements in agricultural technologies and their influence on domestic production versus import demands.
- Fluctuations in global supply chains due to geopolitical events and environmental factors.
- Consumer preferences and trends towards sustainable and locally sourced products.
