Based on the analysis, Thailand's basic metals exports to Indonesia in 2023 stood at 351.91 million USD. The actual data from 2013 to 2023 indicate fluctuations with significant drops in 2014 and 2016, but recovery phases in 2017, 2018, and renewed growth in 2021. The year-on-year variation in 2023 was a modest increase of 0.92%, with a negative average yearly variation (CAGR) over the last 5 years at -0.091%.
Looking forward from 2024 to 2028, forecasted data suggests a steady but slow increase with a forecasted 5-year CAGR of 0.73% and an overall growth rate of 3.73%. The trends over this period show a stabilizing direction after previous years of volatility.
Future trends to watch for include:
- Global economic conditions impacting basic metals demand and prices
- Trade policies between Thailand and Indonesia or on a broader regional scale
- Technological advancements in metal production and export efficiency
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