The support activities for transportation in Malaysia showed a substantial growth trend from 2013 to 2019, with the value of the sector rising from 4.23 billion Malaysian Ringgits to 9.12 billion. The most significant growth occurred in 2015 with a 38.26% increase. However, the sector faced a downward trend in 2020 with a 14.66% decline, likely due to the COVID-19 pandemic. A recovery followed in subsequent years, with 2023 registering a value of 9.64 billion, marking a year-on-year increase of 9.72%. The average annual growth rate over the past five years has been moderate, with a CAGR of 3.09%.
Future trends to watch for:
• The forecasted data indicates a continued growth with a five-year CAGR of 4.1%, reaching 12.49 billion by 2028. • Factors such as advancements in logistics technology, increased trade activities, and government initiatives supporting infrastructure development may drive this growth. • Monitoring the impact of geopolitical developments and global economic conditions will also be critical in forecasting future trends accurately.
