Malaysia's textiles exports to Indonesia experienced notable fluctuations from 2013 to 2023. Standing at $103.09 million in 2023, the market saw variations in year-on-year growth rates, reflecting economic, industry, and geopolitical factors. Over the last two years, there was a slight positive change, with a 0.96% increment each year. However, the average annual growth rate over the past five years was 1.86%, suggesting a mild upward trend.
Looking ahead, forecasted data from 2024 to 2028 indicates steady growth. The Compound Annual Growth Rate (CAGR) for this period is projected to be 0.76%, with a cumulative growth rate of 3.87%. This reflects a stable outlook, though not significantly accelerating.
Future trends to watch for include:
- The impact of regional trade agreements and tariffs on trade volume
- Market demand shifts towards sustainable and eco-friendly textiles
- Technological advancements in textile production influencing competitiveness
