The import of pedestrian-controlled tractors into Thailand has shown varying trends over the past decade, with significant fluctuations in early years from 2013 to 2016 marked by a notable increase in 2013 followed by a steep decline in 2014 and 2015. However, since 2016, there has been more stability and growth with imports increasing steadily from 2018 onwards. As of 2023, the value of imports stood at $2.407 million USD.
- Year-on-year data indicates consistent growth from 2018 to 2023 with an average annual growth rate (CAGR) hovering around 2.83% in recent years.
- The most recent two years (2022 and 2023) experienced growth with values increasing by 4.93% and 4.6% respectively.
Future trends to watch for include continued moderate growth with a forecasted 5-year CAGR of 2.96%, indicative of steady progress. Potential factors affecting future trends could include technological advancements, changes in agricultural practices, government policies, and economic conditions. Keeping an eye on these variables will be key to anticipating market shifts.
