The import of milking machines and dairy machinery to Malaysia fluctuated significantly between 2013 and 2023, with the highest import value recorded in 2017 and a notable dip in 2014. In 2023, the import value stood at 12.993 million US dollars, representing a moderate year-on-year increase of 3.59% from 2022. The Compound Annual Growth Rate (CAGR) over the last two years was 3.69%, while the CAGR over the last five years was 7.72%, indicating a steady growth trend.
The forecast for 2024 to 2028 suggests a continued upward trend, with an anticipated CAGR of 2.61%. By 2028, the import value is expected to reach 15.345 million US dollars, indicating a 13.77% growth rate over the five-year period.
Future trends to watch for include technological advancements in milking and dairy machinery, potential economic fluctuations affecting trade, and Malaysia's commitment to improving its dairy industry, which could drive further increases in imports.
