Bangladesh Malaysia's Third Largest Apparel Supplier Accounting 10% Market Share in Q1

By: Asia Business Outlook Team | Thursday, 13 July 2023

Bangladesh was Malaysia's third-largest apparel supplier, accounting for more than 10% of the market share in the first quarter of this year. Malaysia imports clothing from Bangladesh and receives raw materials, including fabric, from the country's textile industry. According to trade data, both countries can pursue a proposed free trade agreement (FTA) by leveraging their strengths in the textile industry. They recently agreed to investigate the possibility of such a trade agreement.

A Malaysian trade delegation discussed various issues, including a potential trade agreement, at the Third Foreign Office Consultation in Dhaka.

In the first quarter of 2022, Malaysia imported apparel worth $48.943 million from Bangladesh, accounting for 10.06 percent of Malaysia's total apparel imports of $486.711 million. With market shares of 29.99% and 14.39%, respectively, China and Singapore were the first and second largest suppliers.

Malaysia imported $2,051.032 million in apparel last year, with imports from Bangladesh accounting for $234.673 million, or 11.44 percent of the total.

Malaysia exported fabric worth $14.694 million from January to March 2023, up from $12.412 million in October to December 2022 and $13.272 million in January to March 2022. Fabric exports were $53.527 million in 2022, $51.938 million in 2021, $36.560 million in 2020, and $42.722 million in 2019.