From 2013 to 2019, Malaysia's textiles and clothing value added showed a general upward trend, peaking in 2017. Post-2019, the sector was negatively impacted, possibly due to global disruptions, reflected in declines in 2020 and stabilization thereafter through 2023. Considering the value in 2023 remained at 1.86, the sector has exhibited stagnation.
Year-on-year variations reveal significant growth (12.2%) in 2015, followed by fluctuations with a marked decline in 2020 (-8.4%). The average CAGR over the last five years (2018-2023) demonstrates a negative trend at -1.63%, indicative of the sector’s volatility and susceptibility to external economic factors.
The forecast from 2024 to 2028 predicts a marginal decline with a -0.08% CAGR, suggesting limited recovery in value addition. Future trends to watch include potential impacts from technological innovations, trade agreements, and shifts in global supply chain dynamics, which may affect Malaysia's textile and clothing sector’s competitiveness and value addition.
