In 2024, Thailand's Washing and Drying Machine Exports Fall to $440 Million

Thailand Washing and Drying Machine Exports

For the fourth consecutive year, Thailand recorded decline in shipments abroad of household washing and drying machines, which decreased by -11.9% to 1.9M units in 2024. Over the period under review, exports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by 28%. Over the period under review, the exports attained the peak figure at 4.5M units in 2016; however, from 2017 to 2024, the exports remained at a lower figure.

In value terms, washing and drying machine exports dropped markedly to $357M (IndexBox estimates) in 2024. Overall, exports showed a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of 42% against the previous year. As a result, the exports reached the peak of $1.1B. From 2018 to 2024, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam (522K units), Japan (310K units) and Australia (295K units) were the main destinations of washing and drying machine exports from Thailand, together comprising 51% of total exports. Indonesia, the United States, South Korea and Malaysia lagged somewhat behind, together accounting for a further 21%.

From 2014 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +11.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for washing and drying machine exported from Thailand were Vietnam ($93M), Japan ($83M) and Australia ($61M), with a combined 54% share of total exports. the United States, South Korea, Indonesia and Malaysia lagged somewhat behind, together accounting for a further 20%.

In terms of the main countries of destination, South Korea, with a CAGR of +15.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) (1.3M units) was the largest type of household washing and drying machines exported from Thailand, accounting for a 65% share of total exports. Moreover, washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) exceeded the volume of the second product type, washing machines; household or laundry-type, with built-in centrifugal drier, (not fully-automatic), of a dry linen capacity not exceeding 10kg (369K units), threefold. The third position in this ranking was taken by drying machines; of a dry linen capacity not exceeding 10kg (297K units), with a 15% share.

From 2014 to 2024, the average annual growth rate of the volume of washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) exports stood at -3.5%. With regard to the other exported products, the following average annual rates of growth were recorded: washing machines; household or laundry-type, with built-in centrifugal drier, (not fully-automatic), of a dry linen capacity not exceeding 10kg (-16.2% per year) and drying machines; of a dry linen capacity not exceeding 10kg (+1.9% per year).

In value terms, washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) ($249M) remains the largest type of household washing and drying machines exported from Thailand, comprising 70% of total exports. The second position in the ranking was held by washing machines; household or laundry-type, with built-in centrifugal drier, (not fully-automatic), of a dry linen capacity not exceeding 10kg ($58M), with a 16% share of total exports. It was followed by drying machines; of a dry linen capacity not exceeding 10kg, with a 14% share.

From 2014 to 2024, the average annual rate of growth in terms of the value of washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) exports amounted to -3.8%. With regard to the other exported products, the following average annual rates of growth were recorded: washing machines; household or laundry-type, with built-in centrifugal drier, (not fully-automatic), of a dry linen capacity not exceeding 10kg (-15.5% per year) and drying machines; of a dry linen capacity not exceeding 10kg (-0.9% per year).

Export Prices by Country

In 2024, the washing and drying machine price stood at $200 per unit in 2023 (FOB, Thailand), flattening at the previous year. Overall, export price indicated modest growth from 2014 to 2023: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, washing and drying machine export price increased by +11.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 94% against the previous year. As a result, the export price attained the peak level of $324 per unit. From 2018 to 2023, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Japan ($268 per unit), while the average price for exports to Indonesia ($134 per unit) was amongst the lowest.

From 2014 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform