The import of agricultural sprays and powder dispersers to Malaysia shows fluctuating trends between 2013 and 2023. In 2023, the value stood at 0.55752 million. After a significant drop in 2014, the import values continued to decline until 2016. A sharp increase in 2017 was observed, followed by steady fluctuations and a gradual decline from 2018 onwards. Over the past two years, the year-on-year variation showed a decline, with -3.48% in 2022 and -3.54% in 2023. The average annual decline (CAGR) over the last five years was -5.47%.
The forecast for 2024 to 2028 suggests a continued decline in import values. The forecasted 5-year CAGR is -3.37%, leading to an expected value of 0.45073 million by 2028, representing a 15.76% decrease from 2023.
Future Trends to Watch For:
- Global supply chain disruptions that could affect agricultural imports.
- Changes in domestic agricultural policies and self-sufficiency efforts.
- Technological advancements in agricultural spraying equipment that could alter import demands.
- Economic factors such as exchange rates and trade agreements impacting import costs and competitiveness.
