Malaysia’s 2022 total trade surges 27.8% to RM2.8T

KUALA LUMPUR: Malaysia’s total trade surged by 27.8 per cent to RM2.8 trillion in 2022 versus RM2.2 trillion in the year before, said the Department of Statistics Malaysia (DoSM).

Exports grew 25 per cent to RM1.6 trillion in 2022 as compared to RM1.2 trillion in 2021, while imports rose by 31.3 per cent to RM1.3 trillion as against RM987.3 billion a year before, it said in a statement in conjunction with the release of the Malaysia External Trade Statistics by State 2023 report.

It said that seven states registered double-digit growth for exports and imports, namely Labuan, Sarawak, Kedah, Johor, Perlis, Penang and Sabah.

Higher exports were recorded in most states, namely Penang (RM107.7 billion, 30.3 per cent), Johor (RM84.7 billion, 35.2 per cent), Sarawak (RM45.4 billion, 52.7 per cent), Selangor (RM22.4 billion, 8.8 per cent), Kedah (RM14.4 billion, 36.1 per cent), Sabah (RM8.8 billion, 27 per cent), Labuan (RM8.2 billion, 75.3 per cent), Kuala Lumpur (RM2.9 billion, 4.5 per cent), and Pahang (RM2.9 billion, 8.9 per cent), it said.

The department said exports also rose in Negeri Sembilan (RM2.2 billion, 9.4 per cent), Melaka (RM1.2 billion, 4.1 per cent), Kelantan (RM1.2 billion, 42.1 per cent), Perlis (RM392.1 million, 34.2 per cent) and Terengganu (RM325.7 million, 1.9 per cent).

However, it said exports fell in Perak by RM2.2 billion or 5.6 per cent to RM37.1 billion.

Penang remained the top exporter with a share of 29.9 per cent, followed by Johor (21 per cent) and Selangor (17.8 per cent), it said.

“The export expansion was underpinned by strong exports of electronic integrated circuits in Penang and Selangor, while refined petroleum products were the main contributors of exports in Johor,” it said.

DoSM said that higher imports were registered by all states, namely Johor (RM96.3 billion, 49.7 per cent), Penang (RM61.1 billion, 26.4 per cent), Selangor (RM56.0 billion, 20.2 per cent), Kedah (RM16.2 billion, 28.0 per cent), Melaka (RM15.6 billion, 61.4 per cent), Kuala Lumpur (RM15.5 billion, 21.0 per cent), and Negeri Sembilan (RM12.9 billion, 41.2 per cent).

Expansion in imports was also posted by Sarawak (RM10.8 billion, 46.0 per cent), Pahang (RM7.3 billion, 47.7 per cent), Perak (RM4.8 billion, 14.9 per cent), Sabah (RM2.1 billion, 25.8 per cent), Labuan (RM1.4 billion, 71.2 per cent), Terengganu (RM1.1 billion, 21.9 per cent), Perlis (RM425.0 million, 50.9 per cent) and Kelantan (RM191.0 million, 9.9 per cent), it said.

“Selangor continued to dominate Malaysia’s imports with a share of 25.7 per cent, followed by Penang (22.6 per cent) and Johor (22.4 per cent).

“Higher imports recorded in Selangor were contributed by other electrical and electronic products, with electronic integrated circuits as the main contributors for Penang and refined petroleum for Johor,” it added. – Bernama

Source: https://www.thestar.com.my/business/business-news/2023/06/12/malaysia039s-2022-total-trade-surges-278-to-rm28t