Based on the forecasted data for banana production in Malaysia from 2024 to 2028, the production is expected to gradually decline from 313.9 thousand metric tons in 2024 to 305.14 thousand metric tons in 2028. When considering the actual data from 2023, which stood at 316 thousand metric tons, the forecast indicates a consistent downward trend.
By calculating the year-on-year percentage variation, the forecasted production shows the following trends:
- 2024 vs 2023: -0.66%
- 2025 vs 2024: -0.72%
- 2026 vs 2025: -0.71%
- 2027 vs 2026: -0.70%
- 2028 vs 2027: -0.69%
The Compound Annual Growth Rate (CAGR) over the five-year period from 2023 to 2028 is approximately -0.72% per year, indicating a modest but consistent annual decline in banana production.
Future trends to watch for in banana production in Malaysia include potential impacts from climate change, technological advancements in agriculture, and shifts in market demand. Monitoring these factors will be essential for understanding the dynamics of the banana production industry in Malaysia.
