The import of agricultural, horticultural, or forestry machinery to Thailand has experienced fluctuations over the past decade. Between 2013 and 2017, there was a notable decline, hitting its lowest in 2015. However, a moderate recovery began in 2017 and has continued steadily each year since then. By 2023, the import value stood at 24.194 million USD, marking a slight but consistent year-on-year growth of 1.01%. The past five years have shown an average annual growth (CAGR) of 0.92%, reflecting a gradual recovery in import demand.
Looking ahead to 2028, forecasts suggest an ongoing modest increase, with a five-year CAGR of 0.73% and an overall growth rate of 3.7% from 2023 to 2028.
Future trends to watch for:
- Technological advancements in machinery that could drive import growth.
- Policy changes affecting the import of agricultural machinery.
- Shifts in domestic agricultural practices impacting machinery needs.
