Malaysia's rubber and plastic products exports to Singapore have shown a steady increase based on the forecast data from 2024 to 2028. The values are predicted to grow from 817.27 million USD in 2024 to 857.31 million USD in 2028. This forecasted growth suggests a consistent upward trend, with an average annual growth rate of approximately 1.2% over the five-year period. As of 2023, the export value stood at 807.16 million USD, making the year-on-year increase for 2024 around 1.3%.
Key observations:
- The year-on-year growth rate for 2024-2025 is 1.3%.
- The year-on-year growth rate for 2025-2026 is 1.2%.
- The year-on-year growth rate for 2026-2027 is 1.2%.
- The year-on-year growth rate for 2027-2028 is 1.1%.
- The Compound Annual Growth Rate (CAGR) over the five-year period is 1.2%.
Future trends to watch for include potential impacts from global economic shifts, advancements in sustainable materials, and changes in trade policies between Malaysia and Singapore. Monitoring these factors will be crucial for accurate forecasting and strategic planning.
