Forecast: Exports of ICT Services in Thailand

The exports of ICT services in Thailand have shown significant fluctuations over the past decade. The value in 2023 stood at $385.66 million, reflecting a year-on-year decrease of -1.94% from 2022. From 2024 onwards, the forecasted values indicate a steady but slight decline, with an expected average annual decrease of -0.29% over the next five years, leading to $378.59 million in 2028. This suggests a challenging environment for growth in the sector on a longer horizon, especially considering the five-year CAGR of -8.54% preceding 2023. Notably, the peak was observed in 2018 with substantial growth, followed by a period of volatility impacted by global and domestic factors.

Future trends to watch for:

• Technological advancements and digital transformation initiatives which could rejuvenate export values.
• Regional trade agreements and international policy changes potentially influencing ICT services demand.
• Investment in infrastructure and capacity building focused on enhancing ICT capabilities.