The Malaysian textile exports to Lithuania have seen notable growth over the last decade. Starting at $72.89 thousand in 2013, the value surged dramatically to $1169 thousand by 2016 and further to $1378.4 thousand by 2017. However, there was a noticeable dip to $999.81 thousand in 2018 before stabilizing and rising again to $1391.2 thousand in 2022. By 2023, the value stood at $1459.1 thousand. Over the past two years, the year-on-year variations were 5.24% in 2022 and 4.88% in 2023. The compound annual growth rate (CAGR) for the last five years is 7.85%.
Future forecast indicates a steady growth trend, with the forecasted value reaching $1813.5 thousand by 2028, reflecting a 5-year CAGR of 3.41% from 2024 onwards and an overall 18.25% growth in this period.
Future trends to watch for include changes in trade policies, shifts in demand for textiles in Lithuania, and potential disruptions in the global supply chain that could affect export volumes. Monitoring these factors will be essential for anticipating future export performance.
