From 2013 to 2023, Thailand's export of tools, implements, and cutlery of base metal showed an overall upward trend, starting at 384.76 million USD in 2013 and reaching 670.39 million USD in 2023. Year-on-year variations indicate periods of volatile growth, with pronounced peaks in 2015, 2017, 2018, and 2021. Most notably, there were substantial YoY increases of 14.45%, 17.04%, 19.43%, and 25.27% in these respective years. However, in 2016 and 2020, the market saw declines of -8.23% and -13.49%, respectively. The 5-year CAGR for 2028 is forecasted to be 2.58%, with an anticipated growth rate of 13.6% over the subsequent five years.
Key future trends to watch for include:
- Technological innovations in manufacturing and automation that could further enhance export volumes.
- Shifts in global trade policies and any emerging trade agreements affecting Thailand's export markets.
- Changes in raw material costs and availability, which could impact production costs and pricing.
- Economic conditions in major importing countries, influencing demand for cutlery and tools.
