Based on the provided data, the value added by Wholesale, Retail Trade, Restaurants, and Hotels in Thailand increased significantly from 2013 to 2023. The value stood at 99.585 billion US dollars in 2023. The series experienced fluctuation, but overall, it showcased a positive trend. The year-on-year variation was noticeable, with periods of both decline and growth.
In the past two years, growth was recorded at 2.67% in 2022 and 2.55% in 2023. The compound annual growth rate (CAGR) over the last five years was 2.81%, indicating a consistent yet moderate annual increase.
Future trends to watch for:
- The forecast indicates steady growth from 2024 to 2028, with a forecasted 5-year CAGR of 1.92% and a forecasted growth rate of 9.98% over the same period.
- Expect slight deceleration in growth as the market matures, coupled with a potential impact of global economic conditions and policy changes within Thailand.
