In 2023, the import of footwear with uppers of rubber or plastics to Malaysia was valued at 287.73 million USD. For 2024, the forecasted value stands at 299.46 million USD. Year-on-year, the import values are expected to rise by approximately 4.0% in 2025, 3.8% in 2026, 3.6% in 2027, and 3.4% in 2028. Over the forecasted period from 2024 to 2028, the Compound Annual Growth Rate (CAGR) is estimated at around 3.7%.
Future trends to watch for include:
• The impact of economic policies and trade agreements on import tariffs.
• Technological advancements in manufacturing, potentially affecting costs and import volumes.
• Changes in consumer preferences towards sustainable and eco-friendly materials.
• The effect of regional competition and market saturation on import dynamics.
