The import of bicycle frames and forks and parts thereof to Malaysia experienced fluctuations from 2013 to 2023. The values dropped significantly in 2014 and 2015 but saw a rebound starting in 2016. Continued growth was observed from 2017 to 2023, with the value reaching 4.1202 million USD in 2023. The year-on-year variation over the last two years is approximately 2.36% for 2022 and 2.26% for 2023. The Compound Annual Growth Rate (CAGR) for the past five years stands at 2.08%.
Future trends to watch for include:
- Forecasted steady growth with CAGR of 1.72% over the next five years leading up to 2028.
- A total projected growth rate of 8.9% by 2028, indicating a positive but moderate increase in import values.
