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New York State Senator Presents Proclamation on Malaysia’s 66th National Day 

Malaysia’s

New York State Senator Presents Proclamation on Malaysia’s 66th National Day 

Malaysia’s Location is of Strategic Importance for Global Trade and Shipping

A New York State Senator has issued a proclamation in honor of Malaysia’s consulate general in New York at a reception recently held at the Malaysian mission in the presence of the members of the consular corps, UN accredited diplomats and the Malaysian diaspora. 

New York State Senator John C. Liu presented the Proclamation to the Malaysian consulate general in New York on the occasion of Malaysia’s 66th National Day, with consul general Amir Farid Abu Hasan accepting it. 

The Proclamation cites, among other things, that “… Malaysia is one of the most diverse countries in the world, with different cultures assimilating from the very beginning of its history; many of these cultures have worked together to contribute to Malaysia’s uniquely diverse heritage, while vigorously maintaining their identities and customs”.  

The citation also cites the 66th National Day of Malaysia as a “special day, with glorious celebrations heralding another year of independence all over Malaysia, from Perlis to Kuala Lumpur to Sabah and Sarawak; for many Malaysians, National Day of Malaysia reflects on the unity, peace and prosperity of the country …” 

While accepting the Proclamation, consul general Amir recalled the historic moment when Malaya (as Malaysia was known then) stepped into the international arena as a free and independent nation, released from the British colonial yoke. He referred to the “proud moment in history” when Tunku Abdul Rahman (he was the country’s first prime minister and foreign minister after it gained its independence, continuing in that post when the federation of Malaysia was formed in 1963) raised the flag of independent Malaysia. 

“Malaysia has successfully evolved from an agricultural nation and moved towards further industrialization,” Amir said. 

The presence of ASEAN diplomats charged with promoting trade and investments at the event, emphasized the key role trade and economic ties play in strengthening the overall U.S.-ASEAN bilateral relations.   Malaysian Trade Commissioner in New York, Nyaee Ayup, whose office promotes trade with the U.S., said:  “I am happy about this Proclamation … it should also help profile Malaysia in trade and business circles.” 

With an increasingly receptive market for sophisticated products and services, including in technology, manufacturing, and healthcare, Malaysia remains the 19th largest trading partner of the United States, with two-way trade peaking at $ 72.9 billion in 2022. 

New York State Senator John C. Liu, in an interview with Global Trade Magazine, underscored Malaysia’s importance for New York and, indeed, for the United States.  “We look up to Malaysians and try to emulate them … they have strength and harmony in diversity,” he said. 

“We think of New York as the center of the universe, sometimes deservedly and sometimes undeservedly.  The Malaysian community reminds me about our own diversity … we can emulate them and learn from them,” Liu added unabashedly.

The composition of Malaysia’s population is characterized by a mixture of ethnic groups and their respective cultures, comprising Malay, Chinese, Indian and native groups.  The Malaysian social fabric rests on six pillars – sustainability, care, compassion, respect, innovation, prosperity and development – “which have guided the country’s destiny”, as one Malaysian community leader present at the Proclamation ceremony put it. 

Malaysia is one of the 10 member states of the Southeast Asia bloc known as the Association of Southeast Asian Nations (ASEAN) whose economic significance and strategic location have become key factors in the Indo-Pacific calculations of successive U.S. administrations.  

The other nine ASEAN member states are Brunei, Cambodia, Indonesia, Laos, Myanmar, the Philippines, Singapore, Thailand and Vietnam. 

Indeed, the ASEAN group of nations is clustered along the crucial trade and shipping route, the Strait of Malacca, which many experts describe as the “lifeline” of East-West sea trade. 

The Strait of Malacca is a narrow stretch of water, 500 miles long between the Malay Peninsula to the northeast and the Indonesian island of Sumatra to the southwest, connecting the Indian Ocean and the Pacific Ocean. As the main shipping channel between the Indian and Pacific oceans, it is one of the most important shipping lanes in the world. It is named after the Malaysian state of Malacca.

According to the International Transport Administration of the U.S. Department of Commerce, Malaysia’s central location in the Asia Pacific region makes it an ideal gateway to Asia and ASEAN markets.   There are more than 40 seaports across Malaysia. Sixteen of these ports have container facilities. The largest container port in Westport, along the Straits of Malacca in Port Klang, an hour’s drive from Kuala Lumpur.  

Air cargo facilities are well developed in the five international airports. In Peninsular Malaysia, these are the Kuala Lumpur International Airport (KLIA), Penang International Airport, and Langkawi International Airport. Malaysia’s modern KLIA is the nation’s largest airport, located south of Kuala Lumpur. Cargo import and export procedures are fully automated at KLIA.  

The New York State Senate’s gesture in presenting the Proclamation to Malaysia is also being seen as an acknowledgement of the “crucial importance” of the ASEAN region in the Indo-Pacific region.  Other ASEAN diplomats, preferring to remain anonymous, remarked that their group saw “huge potential for trade, business and investment” in cooperation with the United States.  They were also keen to acquire U.S. technology which could further push their countries towards modernization and greater industrialization.   

 

dry bean

Global Dry Bean Market 2020 – Key Insights

IndexBox has just published a new report: ‘World – Dry Bean – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global dry bean market revenue amounted to $30.1B in 2018, reducing by -2.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). In general, dry bean consumption continues to indicate a relatively flat trend pattern.

The pace of growth appeared the most rapid in 2016 with an increase of 7.7% year-to-year. In that year, the global dry bean market attained its peak level of $31B. From 2017 to 2018, the growth of the global dry bean market remained at a lower figure.

Consumption by Country

The countries with the highest volumes of dry bean consumption in 2018 were India (6.9M tonnes), Myanmar (3.9M tonnes) and Brazil (2.8M tonnes), together accounting for 36% of global consumption. These countries were followed by Nigeria, Niger, the U.S., Tanzania, Mexico, Kenya, Uganda, China and Burkina Faso, which together accounted for a further 34%.

From 2014 to 2018, the most notable rate of growth in terms of dry bean consumption, amongst the main consuming countries, was attained by China, while dry bean consumption for the other global leaders experienced more modest paces of growth.

In value terms, India ($6.9B) led the market, alone. The second position in the ranking was occupied by Myanmar ($2.7B). It was followed by Nigeria.

The countries with the highest levels of dry bean per capita consumption in 2018 were Niger (111 kg per person), Myanmar (72 kg per person) and Burkina Faso (35 kg per person).

Market Forecast to 2030

Driven by increasing demand for dry bean worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.1% for the period from 2018 to 2030, which is projected to bring the market volume to 48M tonnes by the end of 2030.

Production by Country

The countries with the highest volumes of dry bean production in 2018 were India (6.2M tonnes), Myanmar (4.9M tonnes) and Brazil (2.9M tonnes), with a combined 37% share of global production. Nigeria, Niger, the U.S., Tanzania, China, Mexico, Uganda, Kenya and Burkina Faso lagged somewhat behind, together comprising a further 36%.

From 2014 to 2018, the most notable rate of growth in terms of dry bean production, amongst the main producing countries, was attained by Niger, while dry bean production for the other global leaders experienced more modest paces of growth.

Harvested Area 2014-2018

In 2018, approx. 48M ha of beans (dry) were harvested worldwide; going down by -3.2% against the previous year. The harvested area increased at an average annual rate of +2.2% from 2014 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2016 when harvested area increased by 8.8% year-to-year. Over the period under review, the harvested area dedicated to dry bean production reached its maximum at 49M ha in 2017, and then declined slightly in the following year.

Yield 2014-2018

In 2018, the global average dry bean yield amounted to 788 kg per ha, jumping by 3.9% against the previous year. The yield figure increased at an average annual rate of +1.2% from 2014 to 2018. In 2018, the average dry bean yield reached its peak level and is likely to continue its growth in the immediate term.

Exports 2014-2018

Global exports amounted to 3.9M tonnes in 2018, therefore, remained relatively stable against the previous year.

In value terms, dry bean exports amounted to $3.3B (IndexBox estimates) in 2018.

Exports by Country

Myanmar was the key exporter of beans (dry) exported in the world, with the volume of exports amounting to 1M tonnes, which was approx. 27% of total exports in 2018. The U.S. (439K tonnes) held an 11% share (based on tonnes) of total exports, which put it in second place, followed by China (10%), Argentina (8.9%) and Canada (8.8%). Brazil (162K tonnes), Ethiopia (136K tonnes), Egypt (102K tonnes), Nicaragua (83K tonnes), Australia (75K tonnes) and Kyrgyzstan (75K tonnes) followed a long way behind the leaders.

From 2014 to 2018, average annual rates of growth with regard to dry bean exports from Myanmar stood at +11.1%. At the same time, Brazil (+25.7%), Australia (+24.2%), Kyrgyzstan (+19.2%), Argentina (+8.3%), Egypt (+4.8%), Nicaragua (+4.2%) and Canada (+3.9%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in the world, with a CAGR of +25.7% from 2014-2018. By contrast, the U.S. (-2.5%), China (-5.7%) and Ethiopia (-12.1%) illustrated a downward trend over the same period. Myanmar (+9.1 p.p.), Brazil (+2.5 p.p.) and Argentina (+2.4 p.p.) significantly strengthened its position in terms of the global exports, while Ethiopia and China saw its share reduced by -2.3% and -2.7% from 2014 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest dry bean supplying countries worldwide were China ($573M), Myanmar ($570M) and the U.S. ($390M), with a combined 47% share of global exports. Canada, Argentina, Egypt, Brazil, Nicaragua, Ethiopia, Australia and Kyrgyzstan lagged somewhat behind, together comprising a further 34%.

In terms of the main exporting countries, Australia recorded the highest growth rate of the value of exports, over the period under review, while exports for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average dry bean export price stood at $831 per tonne in 2018, shrinking by -6% against the previous year. Over the period under review, the dry bean export price continues to indicate a deep decrease. The most prominent rate of growth was recorded in 2016 an increase of 0.3% against the previous year. Over the period under review, the average export prices for beans (dry) attained their maximum at $1,083 per tonne in 2014; however, from 2015 to 2018, export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was China ($1,422 per tonne), while Myanmar ($548 per tonne) was amongst the lowest.

From 2014 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other global leaders experienced a decline in the export price figures.

Source: IndexBox AI Platform

toilet paper

Global Toilet Paper Market – U.S. ($375M), Germany ($320M), and the Netherlands ($164M) Are the Biggest Importers

IndexBox has just published a new report: ‘World – Toilet Paper – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

The global toilet paper market revenue amounted to $60.4B in 2018, going up by 6.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).

The market value increased at an average annual rate of +2.9% over the period from 2007 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2008 with an increase of 12% year-to-year. The global toilet paper consumption peaked in 2018 and is expected to retain its growth in the immediate term.

Exports 2007-2018

In 2018, approx. 2.1M tonnes of toilet paper were exported worldwide; going up by 4.9% against the previous year. Over the period under review, toilet paper exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when exports increased by 5.3% against the previous year. Over the period under review, global toilet paper exports reached their peak figure in 2018 and are expected to retain its growth in the near future.

In value terms, toilet paper exports totaled $3.7B (IndexBox estimates) in 2018.

Exports by Country

China (229K tonnes) and Germany (222K tonnes) represented the main exporters of toilet paper in 2018, finishing at approx. 11% and 11% of total exports, respectively. It was followed by Italy (127K tonnes), France (113K tonnes), Poland (109K tonnes) and Sweden (104K tonnes), together comprising a 21% share of total exports. Canada (84K tonnes), El Salvador (80K tonnes), Mexico (73K tonnes), Slovakia (73K tonnes), the U.S. (71K tonnes) and Austria (70K tonnes) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Mexico, while exports for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average toilet paper export price amounted to $1,735 per tonne, increasing by 5.9% against the previous year. Over the period under review, the toilet paper export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 when the average export price increased by 15% y-o-y. Over the period under review, the average export prices for toilet paper attained their maximum at $1,903 per tonne in 2011; however, from 2012 to 2018, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($2,648 per tonne), while Slovakia ($1,346 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other global leaders experienced more modest paces of growth.

Imports 2007-2018

In 2018, the global toilet paper imports amounted to 2.1M tonnes, growing by 5.1% against the previous year. The total import volume increased at an average annual rate of +1.4% over the period from 2007 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2010 when imports increased by 7.9% year-to-year. Over the period under review, global toilet paper imports attained their peak figure in 2018 and are likely to continue its growth in the immediate term.

In value terms, toilet paper imports amounted to $3.6B (IndexBox estimates) in 2018.

Imports by Country

The U.S. (208K tonnes) and Germany (199K tonnes) represented roughly 20% of total imports of toilet paper in 2018. It was followed by the Netherlands (100K tonnes), achieving a 4.9% share of total imports. The following importers – France (87K tonnes), China, Hong Kong SAR (83K tonnes), Denmark (72K tonnes), Saudi Arabia (66K tonnes), Canada (66K tonnes), Belgium (64K tonnes), the Czech Republic (60K tonnes), Norway (52K tonnes) and Austria (48K tonnes) – together made up 29% of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Saudi Arabia, while imports for the other global leaders experienced more modest paces of growth.

In value terms, the U.S. ($375M), Germany ($320M) and the Netherlands ($164M) were the countries with the highest levels of imports in 2018, with a combined 24% share of global imports.

Import Prices by Country

In 2018, the average toilet paper import price amounted to $1,747 per tonne, jumping by 3.1% against the previous year. Overall, the toilet paper import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 when the average import price increased by 9.5% against the previous year. Over the period under review, the average import prices for toilet paper attained their maximum at $1,937 per tonne in 2011; however, from 2012 to 2018, import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Norway ($2,473 per tonne), while Saudi Arabia ($1,460 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, Hong Kong SAR, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

menswear

U.S. Menswear Market – Rising Work Clothes Consumption Buoys Current Market Growth

IndexBox has just published a new report: ‘U.S. Men’s And Boys’ Cut And Sew Apparel Market. Analysis And Forecast to 2025′. Here is a summary of the report’s key findings.

The revenue of the menswear market in the U.S. amounted to $2.9B in 2018, jumping by 5.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.5% over the period from 2013 to 2018; the trend pattern remained consistent, with only minor fluctuations being recorded over the period under review. The pace of growth was the most pronounced in 2018, when the market value increased by 5.6% against the previous year. In that year, the menswear market reached its peak level, and is likely to continue its growth in the immediate term.

Menswear Production in the U.S.

In value terms, menswear production totaled $1.7B in 2018. The total output value increased at an average annual rate of +1.7% from 2013 to 2018; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2015, with an increase of 5.3% y-o-y.

Exports from the U.S.

In 2018, menswear exports from the U.S. totaled 39 tonnes, waning by -25.9% against the previous year. Overall, menswear exports continue to indicate a deep contraction. The growth pace was the most rapid in 2016, with an increase of 83% year-to-year. In that year, menswear exports reached their peak of 82 tonnes. From 2017 to 2018, the growth of menswear exports remained at a lower figure. In value terms, menswear exports totaled $416K (IndexBox estimates) in 2018. Over the period under review, menswear exports continue to indicate an abrupt drop. The pace of growth was the most pronounced in 2016, when exports increased by 110% y-o-y. In that year, menswear exports attained their peak of $1.1M. From 2017 to 2018, the growth of menswear exports failed to regain its momentum.

Exports by Country

Belgium (10 tonnes), New Zealand (5.8 tonnes) and Jamaica (4.3 tonnes) were the main destinations of menswear exports from the U.S., with a combined 52% share of total exports.

From 2013 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Belgium (+1,931.7% per year), while the other leaders experienced more modest paces of growth.

In value terms, Jamaica ($122K) emerged as the key foreign market for menswear exports from the U.S., comprising 29% of total menswear exports. The second position in the ranking was occupied by New Zealand ($44K), with a 11% share of total exports. It was followed by the UK, with a 9.1% share.

Export Prices by Country

The average menswear export price stood at $11 per kg in 2018, declining by -16.1% against the previous year. In general, the menswear export price continues to indicate a drastic deduction. Export prices varied noticeably by the country of destination; the country with the highest export price was Jamaica ($28 per kg), while the average price for exports to Belgium ($1 per kg) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of export prices was recorded for supplies to New Zealand, while the export prices for the other major destinations experienced more modest paces of growth.

Imports into the U.S.

Menswear imports into the U.S. totaled 70K tonnes in 2018, surging by 9.6% against the previous year. In value terms, menswear imports amounted to $785M (IndexBox estimates) in 2018.

Imports by Country

In 2018, China (30K tonnes) constituted the largest supplier of menswear to the U.S., accounting for a 42% share of total imports. Moreover, menswear imports from China exceeded the figures recorded by the second largest supplier, Honduras (9.4K tonnes), threefold. Viet Nam (9.1K tonnes) ranked third in terms of total imports with a 13% share.

From 2013 to 2018, the average annual rate of growth in terms of volume from China totaled -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (+6.2% per year) and Viet Nam (+9.8% per year).

In value terms, China ($285M) constituted the largest supplier of menswear to the U.S., comprising 36% of total menswear imports. The second position in the ranking was occupied by Viet Nam ($136M), with a 17% share of total imports. It was followed by Honduras, with a 9.5% share.

Import Prices by Country

The average menswear import price stood at $11 per kg in 2018, remaining stable against the previous year. Over the period under review, the menswear import price, however, continues to indicate a mild curtailment. The growth pace was the most rapid in 2016, when the average import price increased by 0.4% y-o-y. Over the period under review, the average import prices for men’s and boys’ cut and sew apparel attained their peak figure at $12 per kg in 2013; however, from 2014 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average import prices amongst the major supplying countries. In 2018, the country with the highest import price was Jordan ($23 per kg), while the price for Pakistan ($5.9 per kg) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of import prices was attained by Cambodia, while the import prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform