Malaysia's exports of basic pharmaceutical products and pharmaceutical preparations to Indonesia have shown a general upward trend from 2013 to 2023, despite some fluctuations. The export value peaked in 2021 at 38.175 million USD before slightly declining in 2022 to 35.903 million USD. By 2023, the figure recovered somewhat to stand at 37.078 million USD.
Year-on-year variations for the last two years indicate a decline of 5.95% in 2022, followed by a rebound of 3.27% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years (2019-2023) is 3.22%, reflecting moderate growth.
Forecasts predict continued growth, with the export value expected to reach 42.781 million USD by 2028. The forecasted 5-year CAGR from 2024-2028 stands at 2.13%, indicating steady, albeit slower, growth.
Future trends to watch for include potential impacts from regulatory changes in both Malaysia and Indonesia, shifts in global pharmaceutical demand, and the influence of emerging health crises which could accelerate or disrupt this growth trajectory.
