From 2013 to 2023, the import of insecticides to China displayed notable fluctuations. While the value began at $150.25 million in 2013 and increased to $192.66 million in 2023, the year-on-year percentages reveal significant variations. Notably, the import value declined in 2015 and 2017 but showed strong recovery in 2018. The recent two years, 2022 and 2023, saw moderate increases of 2.9% and 2.76%, respectively.
The compound annual growth rate (CAGR) over the last five years (2019-2023) stands at approximately 1.86%. From 2024 onwards, forecasts indicate a steady upward trend, with a projected CAGR of 2.07% over the next five years, culminating in an import value of $219.73 million by 2028.
Future trends to watch for:
- Potential impacts of global trade policies on import values.
- Developments in local agricultural practices and insecticide production.
- Shifts in environmental regulations affecting chemical imports.
- Economic factors influencing demand and spending on insecticides.
