The export value of leather clothing accessories from Malaysia stood at 8.0314 Million US Dollars in 2023. Over the past two years, the year-on-year variations showed increases of 3.14% in 2022 and 2.98% in 2023, suggesting a steady growth trajectory recently. Reflecting on the past five years, the compound annual growth rate (CAGR) was 8.8%, indicating a strong upward momentum in this period.
Looking forward to the future trends, the forecast data predicts consistent growth in the coming years, with a forecasted five-year CAGR of 2.22%, translating to an estimated growth rate of 11.58% by 2028. Factors to closely monitor include global demand shifts, trade policies, and Malaysia's competitive positioning in the international leather goods market.