The value of imported toys, games and sports requisites to Malaysia has seen significant fluctuations from 2013 to 2023, with an overall upward trend. In 2023, the import value stood at $593.22 million. Notable year-on-year variations include a substantial increase of 27.34% in 2017 and a significant drop of 13.11% in 2018. Despite occasional declines, the Compound Annual Growth Rate (CAGR) over the past five years averaged 4.22%, indicating steady growth.
Most recent trends show a modest year-on-year increase of 3.05% from 2022 to 2023, suggesting resilience in the import market. Forecasts predict continued growth, with import values expected to reach $684.93 million by 2028, driven by an average growth rate of 2.26% per year.
Future trends to watch for include:
- Shifts in consumer preferences towards digital and interactive toys.
- Economic conditions impacting disposable income and spending power.
- Regulatory changes affecting import tariffs and duties.
- Technological advancements in the toy and games industry driving demand.