From 2013 to 2023, imports of non-electric wall clocks to Indonesia experienced significant fluctuations. The highest import value was recorded in 2017 with a sharp decline in 2018 and fluctuating stability until 2023, where the value stood at 594.93 thousand US Dollars. Over the last two years, the year-on-year variation showed slight declines of -1.43% in 2022 and -1.42% in 2023. The CAGR over the last five years was recorded at 4.4%, indicating moderate growth despite annual volatilities.
Forecasts suggest a declining trend in imports from 2024 to 2028, with a year-on-year decrease each year. The forecasted CAGR over these five years is -1.24%, predicting a gradual reduction in import values to 550.11 thousand US Dollars by 2028.
Future trends to watch for include:
- Potential impacts of global economic conditions on import capabilities.
- Shifts in local consumer preferences for non-electric vs. electric wall clocks.
- Policy changes that may either incentivize or discourage imports.
