Life-Jackets and Life-Belts Price in Thailand - 2023

Life-Jackets and Life-Belts Price in Thailand (FOB) - 2023

In July 2023, the average life-jackets and life-belts export price amounted to $27,952 per ton, waning by -25% against the previous month. Overall, export price indicated a mild expansion from July 2022 to July 2023: its price increased at an average monthly rate of +1.2% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, life-jackets and life-belts export price increased by +47.0% against May 2023 indices. The growth pace was the most rapid in June 2023 when the average export price increased by 96% month-to-month. As a result, the export price reached the peak level of $37,276 per ton, and then dropped rapidly in the following month.

Prices varied noticeably by the country of destination: the country with the highest price was Taiwan (Chinese) ($52,070 per ton), while the average price for exports to Indonesia ($7,964 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Life-Jackets and Life-Belts Price in Thailand (CIF) - 2022

The average life-jackets and life-belts import price stood at $8,908 per ton in 2022, dropping by -17.4% against the previous year. Overall, the import price showed a pronounced setback. The most prominent rate of growth was recorded in 2015 an increase of 38%. As a result, import price attained the peak level of $14,848 per ton. From 2016 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($93,599 per ton), while the price for Vietnam ($2,636 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Life-Jackets and Life-Belts Exports in Thailand

In 2022, exports of life-jackets and life-beltses from Thailand soared to 190 tons, with an increase of 23% on the previous year. Overall, exports, however, continue to indicate a perceptible decrease. The pace of growth was the most pronounced in 2021 with an increase of 25%.

In value terms, life-jackets and life-belts exports declined slightly to $4.9M in 2022. Over the period under review, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year.

Export of Life-Jackets and Life-Belts in Thailand (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Denmark	2,843	1,587	2,273	1,257	-23.8%
United States	3,136	960	670	794	-36.7%
Singapore	109	87.7	285	471	62.9%
Australia	124	120	260	223	21.6%
Indonesia	14.1	4.8	22.5	204	143.7%
United Arab Emirates	319	47.7	59.0	197	-14.8%
China	74.9	94.5	180	195	37.6%
Italy	16.9	4.4	N/A	173	117.1%
Canada	5.2	20.6	0.1	133	194.6%
Myanmar	24.0	211	53.2	98.2	59.9%
South Africa	39.5	78.6	54.0	80.1	26.6%
South Korea	199	160	116	54.3	-35.1%
Finland	471	N/A	270	11.3	-71.2%
Others	749	698	866	1,059	12.2%
Total	8,125	4,074	5,107	4,950	-15.2%

Top Export Markets for Life-Jackets and Life-Belts from Thailand in 2022:

Denmark (53.2 tons)
Indonesia (26.9 tons)
United States (23.1 tons)
China (9.6 tons)
Myanmar (8.7 tons)
Australia (8.3 tons)
Singapore (8.2 tons)
United Arab Emirates (6.9 tons)
Canada (6.8 tons)
Italy (6.3 tons)
South Africa (3.7 tons)
South Korea (1.9 tons)
Finland (0.4 tons)

Life-Jackets and Life-Belts Imports in Thailand

In 2022, life-jackets and life-belts imports into Thailand surged to 421 tons, with an increase of 26% compared with the previous year's figure. The total import volume increased at an average annual rate of +11.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, life-jackets and life-belts imports amounted to $3.7M in 2022. The total import value increased at an average annual rate of +6.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 24% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Import of Life-Jackets and Life-Belts in Thailand (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	1,559	1,981	1,540	2,199	12.1%
United States	934	391	302	387	-25.4%
Cambodia	2.2	0.6	1,000	352	442.9%
Vietnam	50.5	58.1	76.4	93.2	22.7%
Taiwan (Chinese)	54.0	40.1	103	38.6	-10.6%
Japan	48.3	64.2	56.4	35.0	-10.2%
India	80.5	62.4	73.7	19.1	-38.1%
Others	362	299	445	623	19.8%
Total	3,090	2,897	3,595	3,747	6.6%