In 2023, Malaysia's agricultural revenue stood at RM 125.1 billion. The industry has shown fluctuations in recent years, with notable growth in 2017 and 2021 and a significant drop in 2022.
Over the past two years, the revenue has experienced a 2.11% year-on-year growth in 2023, following a decline of -17.31% in 2022. The compound annual growth rate (CAGR) over the last five years (2018-2023) is 2.84%. Looking ahead, the forecasted CAGR for the upcoming five years (2024-2028) is 1.52%, with a total anticipated growth of 7.81% by 2028.
Future trends to watch in the Malaysian agriculture sector include advancements in sustainable farming practices, increased adoption of agricultural technology, and shifts in trade policies that could impact export revenues. Additionally, market dynamics such as climate change and global economic conditions will play critical roles in shaping revenue trajectories.
