Based on the data provided, the export volume of herbicides, anti-sprouting products, and plant-growth regulators from Malaysia stood at 82.471 million kilograms in 2023. Observing the year-on-year changes, there was a consistent but moderating growth rate from 38.303 million kilograms in 2013 to 79.873 million kilograms in 2022. The growth rate experienced variations, with significant increases in the earlier years before stabilizing in recent years. Over the last two years, the exports grew by 3.43% and 3.25% respectively. The five-year CAGR leading up to 2023 was 3.36%, showcasing a consistent but slowing growth trend.
Looking ahead, the forecasted data indicates continued growth, with export volumes expected to reach 94.704 million kilograms by 2028. However, the forecasted CAGR over the next five years is 2.18%, suggesting a slowdown compared to historical trends. This points toward a steady, albeit decelerating, increase in export volumes.
Future trends to watch for include potential changes in global agricultural practices, environmental regulations, and technological advancements in agriculture, which could influence both production and demand for these chemical products. Monitoring trade policies and competition from other exporting countries will also be essential for anticipating changes in export performance.
