Import of live animals to Malaysia has experienced a notable downward trend from its peak in 2014 to 2023, where it stood at 66.427 Million US Dollars. Over the period from 2013 to 2023, the market has seen significant fluctuations with a notable dip beginning in 2017, indicating a broader trend of decline. The year-on-year variations highlight significant decreases from 2014 with sporadic minor increases, ultimately reflecting a cumulative annual growth rate (CAGR) that evidences an overall decrease.
Looking ahead, from 2024 onwards, the forecast indicates a continued decline with an average annual decrease (CAGR) of -0.59%. By 2028, the import value is predicted to be approximately 63.976 Million US Dollars. Key future trends to monitor include potential shifts in domestic policies regarding animal health and trade, changes in international trade agreements, and fluctuations in demand for live animals in both local and regional markets. Additionally, any advancements in alternative animal farming and breeding technologies could further impact the import dynamics in this sector.
