Between 2013 and 2023, Thailand's import of degreased shorn wool has shown variability, with significant fluctuations. As of 2023, the import value stood at 48.792 million USD. The year-on-year growth rates highlight key trends: there was a notable increase of 70.59% in 2014, which contrasts with the -11.27% drop in 2015. The data reveals an upward trajectory towards 2023, with an annual growth rate of 2.55% in the last recorded year. The Compound Annual Growth Rate (CAGR) over the past five years from 2018 to 2023 was nearly 1.95%, indicating moderate growth.
Forecasted data from 2024 to 2028 suggests a steady ascent, with a 5-year CAGR of 1.92% and a projected overall growth rate of 9.98% over the period. This indicates a consistent, albeit modest, increase in imports, which aligns with general economic trends and demand patterns.
Future trends to watch for:
- Changes in global wool prices and supply chain stability.
- Potential shifts in Thailand’s manufacturing and textile industry demands.
- Impact of trade policies and tariffs on wool imports.
- Growth in local wool production capabilities which may affect import levels.