The export value of Electrical and Electronic Equipment from Malaysia stood at 91.269 billion USD in 2023. Over the past decade, the sector has displayed notable fluctuations with a mixture of both growth and contractions. The exports grew consistently between 2016 and 2018, peaked in 2021 with a 24.15% increase year-on-year, and showcased a slight upturn in 2022 and 2023 with 2.89% and 2.76% growth respectively. The Compound Annual Growth Rate (CAGR) over the last five years is around 1.91%, signifying a period of moderated growth when compared to previous years.
Future trends indicate a steady growth trajectory with forecasted figures reaching 104.05 billion USD by 2028, representing a 5-year CAGR of 2.06% and a 10.75% growth rate over the period. It is essential for stakeholders to observe:
- Technological advancements and global digital transformation
- Shifts in international trade policies and tariffs
- Market demand changes in developed and emerging markets
- Supply chain adjustments and component shortages
