Malaysia’s exports jump 25% in 2022 to RM1.6 trillion in record-breaking trade performance: Miti

Malaysia’s trade performance in 2022 surpassed RM2 trillion for the second consecutive year and registered the fastest growth since 1994 theSun theSundaily exports imports trade investments Malaysia Finance

: Malaysia’s trade performance in 2022 surpassed RM2 trillion for the second consecutive year and registered the fastest growth since 1994, with exports expanding 25 per cent to RM1.55 trillion.Minister of International Trade and Industry Tengku Datuk Seri Zafrul Aziz

He noted that this was “a positive reflection that the nation’s trade performance is on an upward trajectory, boosted by higher external demand and strong commodity prices.” Tengku Zafrul said significant export growth was also recorded in emerging markets, notably Egypt, Sri Lanka, Mozambique, Papua New Guinea, Togo, Djibouti, and Afghanistan, while exports to free trade agreement partners registered the highest value thus far.

The growth was driven by robust exports of electrical and electronic products, petroleum products, liquefied natural gas, palm oil and palm oil-based products, crude petroleum as well as machinery, equipment and parts with each product segment recording over a RM10 billion increase with double-digit growth.

On the outlook for 2023, Miti expects Malaysia’s trade performance to grow at a softer pace in tandem with the outlook by World Trade Organisation , which anticipated global trade to grow by 1 per cent.

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