The forecasted contribution of the refined petroleum products industry to Malaysia's GDP shows a steady increase from 3.6% in 2024 to a stable 3.7% from 2025 to 2028. Compared to 2023, the value was slightly lower, indicating an upward trend over the next five years. Year-on-year variations from 2024 to 2028 are minimal, showing a consistent industry performance. The compound annual growth rate (CAGR) for this period is positive but modest, highlighting stable, incremental growth in the sector.
Future trends to watch for include:
• Technological advancements in refining processes which can improve efficiency and output.
• Fluctuations in global crude oil prices impacting the industry.
• Government policies and regulations affecting energy sectors.
• Increasing demand for sustainable and cleaner energy alternatives.
