Malaysia: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Malaysia

The Malaysian agricultural forestry machinery market expanded modestly to $X in 2022, picking up by 1.7% against the previous year. In general, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.6% against 2020 indices. Agricultural forestry machinery consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Agricultural Forestry Machinery Production in Malaysia

In value terms, agricultural forestry machinery production stood at $X in 2022 estimated in export price. In general, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 41%. Agricultural forestry machinery production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Agricultural Forestry Machinery Exports

Exports from Malaysia

In 2022, the amount of agricultural forestry machinery (lawn or sportsground rollers) exported from Malaysia declined dramatically to X units, which is down by -17.9% on 2021 figures. Over the period under review, exports continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2017 when exports increased by 206% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, agricultural forestry machinery exports contracted markedly to $X in 2022. In general, exports faced a significant curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 218%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Gabon (X units) was the main destination for agricultural forestry machinery exports from Malaysia, accounting for a 74% share of total exports. Moreover, agricultural forestry machinery exports to Gabon exceeded the volume sent to the second major destination, Indonesia (X units), fivefold. The third position in this ranking was held by the Philippines (X units), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Gabon amounted to +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-33.3% per year) and the Philippines (-27.7% per year).

In value terms, Gabon ($X) emerged as the key foreign market for agricultural forestry machinery (lawn or sportsground rollers) exports from Malaysia, comprising 73% of total exports. The second position in the ranking was held by Indonesia ($X), with a 15% share of total exports. It was followed by the Philippines, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Gabon totaled +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-34.5% per year) and the Philippines (-29.1% per year).

Export Prices by Country

In 2022, the average agricultural forestry machinery export price amounted to $X per unit, waning by -9.1% against the previous year. Over the period under review, the export price showed a perceptible reduction. The growth pace was the most rapid in 2021 when the average export price increased by 30%. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were the Philippines ($X per unit) and Indonesia ($X per unit), while the average price for exports to Gabon ($X per unit) and Thailand ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (-1.8%), while the prices for the other major destinations experienced a decline.

Agricultural Forestry Machinery Imports

Imports into Malaysia

Agricultural forestry machinery imports into Malaysia reduced to X units in 2022, waning by -11.8% compared with the previous year's figure. Over the period under review, imports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 46% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, agricultural forestry machinery imports dropped to $X in 2022. In general, imports saw a deep reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 39%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of agricultural forestry machinery to Malaysia, accounting for a 37% share of total imports. Moreover, agricultural forestry machinery imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was held by the United States (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-8.3% per year) and the United States (-11.7% per year).

In value terms, China ($X) constituted the largest supplier of agricultural forestry machinery (lawn or sportsground rollers) to Malaysia, comprising 38% of total imports. The second position in the ranking was held by Japan ($X), with a 15% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-8.2% per year) and the United States (-11.6% per year).

Import Prices by Country

In 2022, the average agricultural forestry machinery import price amounted to $X per unit, declining by -2.5% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 7.1% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per unit) and Japan ($X per unit), while the price for the Netherlands ($X per unit) and Brazil ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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