Thailand's coffee import value stood at USD 177.92 million in 2023, reflecting a year-on-year increase of 4.22%. Over the past decade, the import value has demonstrated substantial growth, starting from USD 78.432 million in 2013. Although there have been fluctuations, such as a 14.46% decline in 2016, the overall trend has been upwards, with notable increments such as 46.7% in 2017. More recently, the average annual growth rate (CAGR) over the last five years (2018-2023) was 5.22%. Forecasted data suggest a continued steady increase with a projected CAGR of 3.01% for the next five years, leading to an expected import value of USD 215.51 million by 2028.
Future trends to watch for:
- Shifts in global coffee production affecting supply and prices.
- Changes in consumer preferences towards specialty and premium coffee.
- The impact of economic conditions and currency fluctuations on import values.
- Potential growth in domestic coffee production and its effect on imports.