Based on historical data, Indonesia's import of parts and accessories for bicycles and motorcycles displayed significant fluctuations. The value peaked in 2013 and saw a general decline until 2016. A considerable rise occurred between 2017 and 2018, followed by fluctuations. As of 2023, the import value stands at $694.98 million.
Year-on-year variations over the last two years were 7.46% for 2022 and 2% for 2023. The 5-year CAGR from 2019-2023 is approximately 0.31%, indicating an almost stagnant growth during this period.
Future trends to watch for:
- An anticipated steady annual growth rate with a forecast 5-year CAGR of 1.55% from 2024-2028.
- Projected growth rate of approximately 8% over the next five years due to economic recovery post-pandemic and potential increases in demand for advanced bicycle and motorcycle components.
