The import volume of insecticides to Malaysia has experienced significant fluctuations over the years. In 2013, the import volume stood at 8.9708 million kilograms and by 2023, it had increased to 18.892 million kilograms. The year-on-year variations showcased high volatility, particularly notable in 2015 with a 43.49% increase and 2018 with an 18.69% decline. Over the past two years, the growth rate has stabilized with year-on-year increases of approximately 2.92% in 2023 and 3.07% in 2022. The average annual growth over the last five years (CAGR) was 5.01%.
Looking forward, the forecast from 2024 to 2028 anticipates a continued gradual growth in the import volumes, with an expected CAGR of 1.98% and a total growth rate of 10.29% by 2028.
Future trends to watch for:
- Potential impacts of environmental regulations on the demand for insecticides.
- Shifts in agricultural practices or pest management strategies influencing import volumes.
- Economic conditions affecting the purchasing power and needs of agricultural sectors.
