Between 2013 and 2023, the import of fungicides to Indonesia grew significantly, with values increasing overall despite short-term fluctuations. The import value stood at $149.62 million in 2023, reflecting a year-on-year growth rate of 3.94%. Over the last two years, the annual growth rate has slowed slightly, with a CAGR of 4.16%. Looking further back, the average variation per year over the last 5 years witnessed a modest CAGR of 7.5%.
The forecast for the upcoming years until 2028 shows a continued upward trend albeit at a slower pace, with the import value expected to reach $179.24 million. The forecasted 5-year CAGR is 2.84%, indicating steady but moderate growth.
Future trends to watch for include potential changes in agricultural practices, new regulations on pesticide usage, and technological advancements in crop protection. These factors could significantly impact the rate of fungicide imports to Indonesia.
