Thailand: Spades And Shovels Market 2025

Spades And Shovels Market Size in Thailand

In 2021, the Thai spades and shovels market increased by 28% to $X, rising for the second year in a row after two years of decline. Overall, consumption enjoyed a resilient expansion. Spades and shovels consumption peaked in 2021 and is likely to see gradual growth in the near future.

Spades And Shovels Exports

Exports from Thailand

For the third year in a row, Thailand recorded decline in shipments abroad of spades and shovels, which decreased by -16.2% to X tons in 2021. Over the period under review, exports, however, recorded noticeable growth. The growth pace was the most rapid in 2018 with an increase of 206%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, spades and shovels exports contracted dramatically to $X in 2021. Overall, exports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2018 when exports increased by 278%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Lao People's Democratic Republic (X tons), Cambodia (X tons) and the United States (X tons) were the main destinations of spades and shovels exports from Thailand, together accounting for 79% of total exports.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +108.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spades and shovels exported from Thailand were Lao People's Democratic Republic ($X), the United States ($X) and Cambodia ($X), with a combined 73% share of total exports.

In terms of the main countries of destination, Cambodia, with a CAGR of +111.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average spades and shovels export price amounted to $X per ton, shrinking by -29.8% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 100%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then declined dramatically in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Spades And Shovels Imports

Imports into Thailand

In 2021, supplies from abroad of spades and shovels increased by 22% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports saw strong growth. The growth pace was the most rapid in 2020 with an increase of 76% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, spades and shovels imports soared to $X in 2021. Overall, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +9.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +65.8% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 50%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, China (X tons) was the main spades and shovels supplier to Thailand, with a 97% share of total imports. It was followed by Malaysia (X tons), with a 1.6% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China stood at +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+32.3% per year) and Japan (-48.0% per year).

In value terms, China ($X) constituted the largest supplier of spades and shovels to Thailand, comprising 95% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 1.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+17.2% per year) and Japan (-47.4% per year).

Import Prices by Country

In 2021, the average spades and shovels import price amounted to $X per ton, growing by 5.3% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spades and shovels import price decreased by -22.6% against 2019 indices. The growth pace was the most rapid in 2017 when the average import price increased by 27% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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