The import of furniture parts to Malaysia in 2023 stood at 72.468 million USD. From 2013 to 2023, there has been a general upward trend with occasional dips, and the compound annual growth rate (CAGR) over the last five years has been 2.19%. Year-on-year variations for the last two years were 1.8% in 2022 and 1.73% in 2023. Forecasts from 2024 to 2028 indicate a steady increase with an estimated CAGR of 1.34% and a forecasted growth rate of 6.9% over the next five years.
Future trends to watch for:
- Global supply chain dynamics and potential disruptions.
- Changes in trade policies and tariffs impacting import costs.
- Innovation in technology and materials that could alter the demand for traditional furniture parts.
- Economic conditions and consumer spending power influencing import volumes.