Since 1980 there have also been dramatic changes in the composition of
imports (Table 1.4). First, the decline in oil prices after 1985 and the
exploitation of the oil and gas reserves of the Gulf of Thailand (see p.15)
have drastically reduced the expenditure on energy imports. Second, and
closely related to the rapid expansion of manufactured exports, is the growth
in the importation of machinery, non-consumer manufactured goods,
components and raw materials. In these respects the Thai manufacturing
sector has become heavily dependent on imports, particularly from Japan
and the NIEs.