The import value of domestic appliances incorporating electric motors to Thailand showed significant fluctuations from 2013 to 2023, with notable peaks and troughs. The year 2016 saw an exceptional rise of 113.45% compared to the previous year, while 2017 experienced a sharp decline of 46.44%. This trend stabilized somewhat, with modest year-on-year increases between 2019 and 2023, having recorded a value of 129.95 million USD in 2023. The Compound Annual Growth Rate (CAGR) over the last five years leading up to 2023 was observed to be 5.41%.
Future trends to watch for include:
The forecasted import values show a steady growth with a 5-year CAGR of 2.06% from 2024 to 2028, indicating a more gradual upward trend compared to historical data.
By 2028, the import value is projected to reach 148.33 million USD, reflecting a total growth rate of 10.73% over the five-year forecast period.
