Forecast: Food Products Exports to Belgium by Thailand

From 2013 to 2023, Thailand's food product exports to Belgium experienced fluctuations with a general declining trend, standing at $114.68 million in 2023. Year-on-year variation ranged from -12.46% in 2015 to 10.51% in 2018, indicating periods of both contraction and growth. Over the last five years, the average Compound Annual Growth Rate (CAGR) was approximately -0.8%, highlighting a slight overall decline.

Forecasts from 2024 suggest a continuing downward trend, with a 5-year CAGR expected to be around -0.13%. This indicates a modest annual decline in export values reaching $113.77 million by 2028 which equates to an overall 0.62% drop over the period.

Future trends to watch for include potential shifts in global trade policies, changes in consumer demand in Belgium, and economic factors such as currency fluctuations and production costs in Thailand. Monitoring these variables could provide insights into potential opportunities or further declines in the export market.