Malaysia’s trade, exports, imports and trade surplus in 2022 maintained its stellar performance despite the challenging global environment.
This showed that the Malaysian business community remained resilient following robust global demand and high commodity prices, said MATRADE Chief Executive Officer, Datuk Mohd Mustafa Abdul Aziz.
Last year, Malaysia’s trade reached RM2.8 trillion, crossing the RM2 trillion mark for the second successive year. Export performance was remarkable, expanding by 25 per cent, to RM1.6 trillion, surpassing RM1.5 trillion mark for the first time.
“I am glad to share that our exports also exceeded the projection in the Twelfth Malaysia Plan for 2025, three years ahead of the target. Imports, meanwhile, breached the 1 trillion-ringgit mark for the first time, reaching nearly RM1.3 trillion in 2022,” said Mohd Mustafa.
He added that as a prominent global trading nation, Malaysia exports high value and competitive range of products to over 200 international markets.
This affirms Malaysia’s position as a reliable trading partner, accessing new and emerging markets through various trade agreements at the regional and bilateral levels. In 2022, Malaysia’s top 10 export destinations contributed 87.7 per cent share of total exports.
“Leveraging on the outstanding trade performance, MATRADE as the national trade promotion agency, shall strive further to nurture and grow more Malaysian entrepreneurs to venture into exports. MATRADE has been the main focal point in facilitating Malaysian exporters, ministries, agencies, chambers and associations by connecting them with foreign buyers,” said Mohd Mustafa.
For 2023, MATRADE devised a number of high-value export programmes to support Malaysia’s exporting community including industries like electrical and electronic, machinery and equipment, aerospace, food and beverages, medical and pharmaceuticals, building materials, oil and gas as well as services such as ICT and ship building, to name a few.
-NIAGATIMES
