Based on historical data, the value of iron and steel imports to Thailand has exhibited fluctuating trends. A notable decline occurred in 2015 with a 19.53% drop, and again in 2020 with a 15.54% reduction. The import value rebounded significantly in 2021 with a 22.52% increase. The most recent data indicates stable year-on-year growth of around 1.57% by 2023, projecting continual growth through 2028 with a forecasted 5-year CAGR of 1.22% and an overall growth rate of 6.28%.
Future trends to monitor include the global iron and steel market conditions, trade policies, and Thailand's infrastructure development plans, which may influence import volumes. Economic recovery post-pandemic and technological advancements in steel production could also affect import patterns.