After a consistent period of growth, Malaysia’s garment imports from Vietnam decreased in the first quarter of 2023. The inbound shipments totaled $42.631 million from January to March 2023. This is down from $53.680 million in the period October-December 2022.
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 the 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.
Although Malaysia is a net exporter to Vietnam, a downward trend was also observed in shipments from Malaysia to Vietnam.
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 declining for the past three quarters. They went from $31.940 million in Q2 2022 to $19.204 million in Q1 2023.
Malaysia’s trade with Vietnam also includes yarn, based on demand. 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.