Based on the forecasted data, Malaysia's rubber and plastic products exports to Indonesia are projected to grow consistently from 2024 to 2028. In 2023, the actual export value stood at a lower level as compared to the forecasted figures, showcasing a positive trend as we move forward.
Year-on-year variations reflect a steady increase in export value:
- From 2024 to 2025: 2.84% growth
- From 2025 to 2026: 2.71% growth
- From 2026 to 2027: 2.59% growth
- From 2027 to 2028: 2.47% growth
The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is approximately 2.65%, suggesting a stable and moderate growth trajectory.
Future trends to watch for include potential impacts from technological advancements in material sciences, shifts in regulatory policies regarding plastic usage, and macroeconomic factors such as changes in trade policies and economic stability in both Malaysia and Indonesia. Monitoring these elements will be crucial for forecasting and strategizing future exports.
