In the October-December 2021 quarter, Malaysia had imported apparel from Vietnam worth $22.858 million. This rose to $34.226 million in Q1 2022, then to $41.381 million in Q2, and $48.115 million in Q3, reaching a peak of $53.680 million in Q4 2022. The annual import total for 2022 was $177.404 million, an increase from the $95.307 million recorded in 2021, according to trade data from Fibre2Fashion’s market insight tool TexPro.
As a net exporter of fabric, Malaysia shipped textile intermediary products worth $19.204 million in the first quarter of 2023. However, these outbound shipments have been on a downward trend for the past three quarters. They were recorded at $31.940 million in Q2 2022, and then decreased to $30.807 million in Q3 and $29.080 million in Q4 2022, before dropping to $19.204 million in Q1 2023.
In the first quarter (Q1) of 2023, Malaysia’s apparel imports from Vietnam decreased to $42.631 million, following previous quarters of consistent growth.
Despite being a net fabric exporter to Vietnam, a downward trend in shipments was noted.
Also, Malaysia’s trade with Vietnam included nearly identical amounts of yarn exports and imports.
Malaysia’s trade with Vietnam also includes yarn, based on demand. Therefore, Malaysia’s yarn imports and exports to Vietnam have been nearly identical in previous quarters. Malaysia exported yarn worth $7.143 million in Q1 2023 and $8.804 million in Q4 2022. Meanwhile, its yarn imports were valued at $8.117 million in Q1 2023 and $9.590 million in Q4 2022, as per TexPro.
Fibre2Fashion News Desk (KUL)
