The forecast for the import of statuettes and other ornaments of wood to Malaysia shows a consistent decline in volume from 2024 to 2028. The values start at 286.27 thousand kilograms in 2024 and decrease steadily to 242.43 thousand kilograms by 2028. This marks a clear downward trend, indicating a year-on-year decrease of approximately 4% to 4.5%. The compound annual growth rate (CAGR) over these five years highlights an average annual decline of about 3.7%.
Key trends to watch for in the future include shifts in consumer preferences towards alternative materials, potential changes in import regulations, and the influence of global economic factors such as trade agreements and currency fluctuations. Additionally, the impact of sustainability concerns and environmental regulations may further influence the market dynamics of wooden ornaments. Monitoring these aspects will be crucial for anticipating future market behavior.