The import of non-monetary gold in unwrought forms to Thailand has demonstrated significant fluctuations over the past decade. In 2023, the import value stood at $12.747 billion, marking a consistent upward trend from 2020, although still below the 2013 peak. Year-on-year variations were substantial, such as an 88.11% increase in 2017 and a -56.25% decline in 2014. The estimated CAGR over the last five years was 2.7%. Going forward, forecasts predict continued growth, with a forecasted 2.29% CAGR over the next five years, culminating in a value of $14.741 billion by 2028, indicating a stable expansion trend.
Future trends to watch for:
- Global economic conditions and their effects on gold prices and demand.
- Geopolitical stability, which can significantly impact gold imports.
- Technological advancements in gold production and refining.
- Changes in Thailand's regulatory environment regarding gold importation.
