Malaysia's export of plastics and articles thereof has seen fluctuations over the years. From 2013 to 2023, the value ranged from approximately $6.83 billion to $10.45 billion, reflecting an overall upward trend with notable variations. Key years include 2014 with a 10.72% increase, 2018 with a significant jump of 26.15%, and 2021 with an 18.26% rise. However, some years showed declines, such as -14.09% in 2020. The average annual growth rate over the past five years stood at 2.12%. In 2023, the export value was $10.45 billion USD, reflecting a 2.99% year-on-year increase, with a forecasted 5-year CAGR of 2.24% staring from 2024.
Future trends to watch for include increasing global demand for sustainable and recyclable plastics, potential impacts of regional trade agreements, and evolving environmental regulations which might influence production and export patterns. Monitoring technological advancements in the plastics industry will also be crucial for predicting future growth trajectories and market competitiveness.
