Forecast: Import of Articles of Iron or Steel to Thailand

The import of articles of iron or steel to Thailand has shown significant fluctuations over the past decade (2013-2023), with notable declines in 2014 and 2020. However, recent years indicate a trend of steady growth. In 2023, the value stood at 8.5261 billion US dollars, showing a consistent increase year-on-year since 2021. The CAGR for the past five years (2019-2023) is 2.7%, reflecting moderate but stable growth.

Future projections show a forecasted increase in imports, with a 5-year CAGR of 1.93%, estimating the value to reach 9.6398 billion US dollars by 2028, translating to a 10.04% growth from 2023. This anticipates continued, albeit slower, growth driven by industrial demand and economic factors.

Trends to watch for:

• Global economic conditions and trade policies affecting steel prices.
• Thailand's infrastructure and industrial projects increasing demand for steel-related imports.
• Technological advancements and shifts in manufacturing processes affecting steel demand.