Imports to Thailand soared 14.66 percent year-on-year to USD 22.41 billion in November 2018, beating market estimates of a 8.34 percent growth and after a 11.23 percent rise in October. Imports rose mainly due to higher purchases of crude oil (+102 percent); machinery and parts (+10.9 percent) and chemicals (+17.4 percent). The most important import partners were: China (20.9 percent of total imports), Japan (14.2 percent), the US (6.3 percent), Malaysia (5.1 percent) and United Arab Emirates (4.1 percent). Considering the first eleven months of the year, inbound shipments jumped 14.77 percent compared to the same period the preceding year. Many of the materials Thailand imports are assembled into completed goods and shipped out again. Imports in Thailand averaged 10515.38 USD Million from 1991 until 2018, reaching an all time high of 24937.81 USD Million in March of 2012 and a record low of 2760 USD Million in February of 1992.
Imports in Thailand is expected to be 17930.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Thailand to stand at 20607.00 in 12 months time. In the long-term, the Thailand Imports is projected to trend around 21310.00 USD Million in 2020, according to our econometric models.