Thailand: Shipping Market 2024

Shipping Market Size in Thailand

In 2022, the Thai shipping market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption saw a deep downturn. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Shipping Production in Thailand

In value terms, shipping production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production showed a slight decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

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Shipping Exports

Exports from Thailand

In 2022, shipments abroad of ships, vessels, ferry-boats for the transport of persons increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports posted a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, shipping exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X units), Malaysia (X units) and Papua New Guinea (X units) were the main destinations of shipping exports from Thailand, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Papua New Guinea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for shipping exported from Thailand were Cambodia ($X), Singapore ($X) and Australia ($X), together accounting for X% of total exports. Papua New Guinea, Indonesia, Malaysia, Myanmar, Lao People's Democratic Republic and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

Papua New Guinea, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average shipping export price amounted to $X per unit, increasing by X% against the previous year. In general, the export price, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X,852 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X,332 per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Shipping Imports

Imports into Thailand

In 2022, purchases abroad of ships, vessels, ferry-boats for the transport of persons decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, shipping imports dropped remarkably to $X in 2022. In general, imports recorded a dramatic decline. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Lao People's Democratic Republic (X units) constituted the largest shipping supplier to Thailand, accounting for a X% share of total imports. Moreover, shipping imports from Lao People's Democratic Republic exceeded the figures recorded by the second-largest supplier, Australia (X units), ninefold. Malaysia (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Lao People's Democratic Republic stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and Malaysia (X% per year).

In value terms, Malaysia ($X) constituted the largest supplier of ships, vessels, ferry-boats for the transport of persons to Thailand, comprising X% of total imports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lao People's Democratic Republic (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average shipping import price amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the import price recorded a dramatic decline. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X,379 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for Australia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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