Following a sustained period of expansion in prior quarters, Malaysia experienced a decline in its imports of apparel from Vietnam during the first quarter of the present year.
The total value of inbound shipments amounted to US $ 42.631 million from January to March 2023, marking a decrease from US $ 53.680 million recorded in the October-December 2022 period.
While Malaysia maintains a net exporter status to Vietnam in terms of fabric, there has been a noticeable downward trend in shipments.
Malaysia’s apparel imports from Vietnam showed consistent growth, reaching US $ 53.680 million in Q4 2022, with the annual import total for 2022 amounting to US $ 177.404 million.
While Malaysia maintains its status as a net exporter of fabric, the outbound shipments of textile intermediary products have experienced a decline over the past three quarters.
Starting at US $ 31.940 million in Q2 2022, the shipments gradually decreased to US $ 30.807 million in Q3 and US $ 29.080 million in Q4 2022, ultimately reaching US $ 19.204 million in Q1 2023.
Malaysia’s trade relationship with Vietnam encompasses the exchange of yarn, driven by demand. Consequently, the imports and exports of yarn between Malaysia and Vietnam have displayed a close resemblance in previous quarters.
In Q1 2023, Malaysia exported yarn valued at US $ 7.143 million, whereas in Q4 2022, the export value amounted to US $ 8.804 million. Simultaneously, Malaysia’s yarn imports from Vietnam were recorded at US $ 8.117 million in Q1 2023 and US $ 9.590 million in Q4 2022, as reported by TexPro.
