In 2023, the Philippines exported rubber and plastic products worth 5.6456 million US Dollars to Malaysia. Forecasted data indicates a continual decline in export values over the next five years. In 2024, the exports are expected to drop to 4.7949 million USD, a year-on-year decrease of approximately 15.1%. This downward trend is consistent, with predicted values of 3.9868 million USD in 2025, showing another annual reduction of around 16.8%. By 2026, exports are projected at 3.1949 million USD, a further drop of 19.9%. The decline continues with forecasts of 2.4188 million USD for 2027 (a 24.3% decrease) and 1.6582 million USD in 2028 (a 31.4% drop). The compounded annual growth rate (CAGR) over the five-year period from 2024 to 2028 suggests an average annual decrease of 21.1%.
Future trends to watch for include potential shifts in Malaysia’s import policies, innovation in the rubber and plastic sectors in the Philippines, and global economic factors that may influence demand and supply dynamics. Monitoring these elements will be crucial for understanding and potentially mitigating the forecasted declining trend.
