The export of Urea including Aqueous Solution from Malaysia stood at 2142 million kilograms in 2023. The year-on-year variation from 2022 to 2023 was 3.8%, with a Compound Annual Growth Rate (CAGR) of 3.77% over the last five years. From 2013 to 2023, the trend saw significant fluctuations, with the most substantial increase observed in 2017 (69.04%) and significant drops in 2014 (-13.86%) and 2020 (-13.19%). The overall trend since 2013 shows robust growth, albeit with some volatility. The CAGR between 2013 and 2023 stands at varying levels, indicating periods of both strong and weak growth.
The forecast for the next five years up to 2028 predicts a steady increase in export volumes, with the CAGR at 2.75% and an anticipated 14.54% growth rate by 2028. This suggests a stabilized growth pattern, indicating a more consistent and predictable expansion in the Malaysian urea export market.
Future trends to watch for include:
- Global demand shifts impacting Malaysian export volumes.
- Changes in international trade policies and tariffs affecting export profitability.
- Technological advancements in urea production enhancing efficiency.
- Environmental regulations influencing production processes and output.
