The export of ICT products in Malaysia experienced fluctuations between 2015 and 2023. From 2015 to 2018, there was consistent growth, peaking in 2018. However, there was a slight decline in 2019 and 2020, followed by a recovery from 2021 to 2023. In 2023, the export value reached 318.47 billion Malaysian Ringgits. Over the last two years, the year-on-year variation showed modest growth, with a 2.05% increase in 2023. The CAGR over the last five years was 2.32%, suggesting a positive trend.
Moving forward, the forecasted data indicates a steady growth trajectory from 2024 to 2028, with a forecasted five-year CAGR of 1.57%, resulting in an 8.08% growth rate by 2028. This indicates a stable increase in exports, supported by Malaysia’s ongoing investments in technology and innovation.
Future trends to watch for include the impact of global economic conditions on export demand, technological advancements driving new ICT product opportunities, and Malaysia's strategic policies to enhance its ICT sector competitiveness globally.
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