The export of glasses for corrective spectacles from Malaysia has seen significant fluctuations over the years. Starting at 497.07 thousand USD in 2013, the value experienced a substantial surge, peaking at 2692.7 thousand USD in 2015. Following this peak, there was a notable decline in 2017, which was followed by a recovery trend. By 2023, the export value stood at 2001.7 thousand USD, reflecting a relatively modest growth rate in recent years.
Year-on-year variations have been erratic with significant surges and drops: 170.01% increase in 2014, followed by a 100.63% increase in 2015, and a sharp decline of -49.51% in 2017. More stable growth trends were observed from 2018 onwards, with recent years showing mild growth (3.64% in 2023).
For the last five years, the compound annual growth rate (CAGR) stood at 4.64%, indicating a slower but consistent growth trajectory. Future forecasts project a steady increase, from 2079.0 thousand USD in 2024 to 2369.4 thousand USD by 2028, with a forecasted 5-year CAGR of 2.65%.
Future trends to watch for include potential impacts of technological advancements in eyewear, shifts in global demand, and Malaysia's strategic positioning in the international eyewear market. These factors could influence the export landscape considerably in the coming years.
