Key Market Indicators
**Malaysian Clothing Accessories Export Expected to Decline by 2028** Kuala Lumpur - Malaysia's clothing accessories export market is projected to decrease over the next five years. By 2028, the sector is expected to reach approximately $10.7 million, down from the current $11.1 million in 2023. This represents a compound annual growth rate (CAGR) decline of 0.6% year on year. Since 1994, Malaysia's clothing accessories supply has seen a yearly decrease of 1.4%. In the current year, Malaysia stands as the third-largest exporter in this category. However, the Netherlands has surpassed Malaysia, with an export value of $11.1 million. Following the Netherlands, Malaysia, and Italy occupy the second, third, and fourth positions, respectively, in the global rankings. **Rising Imports Despite Export Decline** On the import front, Malaysia's clothing accessories market is set for growth. Imports are forecasted to reach approximately $1.4 million by 2028, up from $1.3 million in 2023. This marks a steady average annual increase of 1.5%. Since 1994, the demand for imported clothing accessories in Malaysia has risen by an average of 2.2% per year. This growth trend contrasts with the downward trajectory seen in the nation's export figures.