Textile Exports Increased In The First Half Of Malaysia

Li Zhiliang, Vice Minister of the Ministry of international trade and industry of Malaysia, pointed out that the export volume of textiles in Malaysia in the first half of this year (2014) was 5 billion 800 million MA (about 1 billion 782 million US dollars), which grew by 20.8% over the same period (2013), and the main export products were textile yarns, garments and fabrics.

The main export markets were the United States, Japan, mainland China, territories and Singapore, with an import volume of 4 billion 200 million Ma, which grew by 13.5% over the same period last year. The main imports were textiles and garments, and the main source of imports was China, Indonesia, Vietnam, Taiwan and Thailand.

Malaysia's textile exports amounted to 10 billion 200 million Malaysian dollars last year and its imports amounted to 7 billion 700 million ma.

Ma's textile production index reached 108.8 points in the first half of this year, up 12.7% from the same period last year, indicating that the textile and garment industry has been restored to normal and expanded trend by the economic recovery.

Vice Minister Li continued that the Malaysia textile and clothing industry had no longer enjoyed the EU general preferential system since January 1st of this year, but still can make use of Malaysia Turkey.

Export products to the European Union for tax concessions.

On the other hand, Zheng Wentian, President of the General Chamber of Commerce of cloth department store in Malaysia, pointed out that the recent weakness of the Malaysian dollar is directly related to the textile industry in the country.

The impact of import and export business, coupled with the implementation of the 6% consumption tax from April 1st (2015), will result in the weakening of purchasing power of consumers and the decrease in sales volume.

The canal appeals to the Malaysia government to sympathize with the public, such as arranging the financing of small and medium sized enterprises to help the industry bail out.

President Zheng calls.

The government revoked the import tariff of cloth garments, so that the operators could reduce the cost of doing business and sell cheap goods in order to attract tourists to purchase, in addition to earning foreign exchange, it also promoted the development of tourism.

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