Based on the provided forecast data for the import of mattocks, picks, hoes, and rakes to Malaysia, there is a clear declining trend observed from 2024 to 2028. The import values in million US dollars for each year are:
- 2024: 2.8503
- 2025: 2.5993
- 2026: 2.3534
- 2027: 2.1124
- 2028: 1.8762
Year-on-year variation in percentage:
- 2024-2025: -8.81%
- 2025-2026: -9.45%
- 2026-2027: -10.23%
- 2027-2028: -11.18%
The compound annual growth rate (CAGR) for the period 2024-2028 is -10.03%, indicating a consistent yearly decline in import values.
Future trends to watch for the import of these tools into Malaysia include potential changes in local agricultural practices, advancements in local manufacturing capabilities, and shifts in government policies related to import tariffs and subsidies for domestic production. Monitoring these factors can provide insights into the sustainability of the declining import trend.
