The import of plastics and articles thereof to Malaysia has seen a fluctuating yet overall upward trend in value from 2013 to 2023. Starting from $6.4113 billion in 2013 and reaching $10.032 billion in 2023, the series displayed significant variations year-on-year. Notable spikes and drops include a 13.35% increase in 2014, a 14.07% decrease in 2020, and a recovery with an 18.29% increase in 2021. The last two years witnessed a 8.6% increase in 2022 and a 3.01% increase in 2023. The Compound Annual Growth Rate (CAGR) over the last five years was 2.65%.
Future trends forecast a consistent increase, with imports expected to rise steadily from $10.321 billion in 2024 to $11.537 billion in 2028, reflecting a forecasted CAGR of 2.25% over the next five years.
Moving forward, key trends to watch include:
- Increased global demand for plastic products influencing import volumes.
- Technological advancements in plastic manufacturing reducing costs and boosting imports.
- Regulatory changes and environmental policies impacting plastic import patterns.