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MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY
MEDIA STATEMENT
MALAYSIA EXTERNAL TRADE STATISTICS
TRADE PERFORMANCE FOR YEAR 202 2 AND DECEMBER 202 2
In 2022, Malaysia’s trade continued to demonstrate a remarkable performance and
registered another record-breaking achievement with trade, exports, imports and trade
surplus soaring to a new high. This is a positive reflection that the nation’s trade
performance is on an upward trajectory, boosted by higher external demand and
strong commodity prices.
Trade surpassed RM2 trillion for the second consecutive year and registered the
fastest growth since 1994. Exports reached RM1 trillion, exceeding the Twelfth
Malaysia Plan projection for 2025 by 24%, three years ahead of the target.
Meanwhile, imports posted another milestone by surpassing RM1 trillion mark for the
first time. Trade surplus was posted for 25 th consecutive year since 1998.
In terms of markets, exports to major trading partners notably ASEAN, China, the
United States (US), the European Union (EU) and Japan registered a new record
high. Significant export growth was also recorded to emerging markets notably Egypt,
Sri Lanka, Mozambique, Papua New Guinea, Togo, Djibouti and Afghanistan.
Similarly, exports to Free Trade Agreement (FTA) partners registered the highest
value thus far. Meanwhile, exports to markets under the Regional Comprehensive
Economic Partnership (RCEP) agreement, which came into force last year, posted
double-digit expansion.
Exports of manufactured, agriculture and mining sectors registered an all-time high
with double-digit growth. This resilient growth was driven by robust exports of
electrical and electronic (E&E) products, petroleum products, liquefied natural gas
(LNG), palm oil and palm oil-based agriculture products, crude petroleum as well as
machinery, equipment and parts with each product recording more than RM10 billion
increase with double-digit growth. All these products also posted the highest export
value ever except crude petroleum.
Malaysia’s solid trade performance was in line with countries in the region notably
Taiwan and the Republic of Korea (ROK) following steady global demand.
Despite the challenging global landscape, we will continue to enhance the promotion
of international trade and exports to reinforce business resilience and sustain
economic growth momentum.
Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz
18 January 2023
by higher exports of E&E products, petroleum products, crude petroleum as well as
machinery, equipment and parts.
Breakdown of exports to ASEAN countries:
- Singapore RM232 billion, increased by 33%;
- Thailand RM65 billion, ↑26%;
- Indonesia RM56 billion, ↑43%;
- Viet Nam RM53 billion, ↑17%;
- Philippines RM28 billion, ↑24%;
- Brunei RM7 billion, ↑42%;
- Myanmar RM5 billion, ↑118%;
- Cambodia RM2 billion, ↑22%; and
- Lao PDR RM946 million, ↑735%.
Exports to all ASEAN countries recorded expansion. Singapore, Thailand and
Indonesia were the top three export destinations in 2022, accounting for 78% of
Malaysia’s total exports to ASEAN. Exports to almost all ASEAN countries registered
new record high.
Exports to Singapore, the largest market in ASEAN with a share of 51% of total
exports to the region, grew by RM58 billion on strong exports of E&E products.
Exports to Thailand (14% share) rose by RM13 billion following higher exports of
crude petroleum while exports to Indonesia (12% share) expanded by RM16.
billion on account of higher exports of petroleum products.
Imports from ASEAN edged up by 37% to RM319 billion, with main imports
comprising E&E products, petroleum products as well as chemicals and chemical
products.
China – Exports Surpassed RM200 Billion for the First Time
In 2022, China remained as Malaysia's largest trading partner for 14 consecutive
years with 17% share of Malaysia’s total trade, expanding by 15% to RM487.
billion compared to 2021.
Exports surpassed RM200 billion mark for the first time, expanding by 9% to
RM210 billion and was the highest value ever recorded. The expansion was driven
by strong exports of E&E products, LNG as well as palm oil and palm oil-based
agriculture products.
China was also Malaysia’s largest import source, accounting for 21% of total
imports, climbed by 20% to RM276 billion. Main imports were E&E products,
machinery, equipment and parts as well as chemicals and chemical products.
The US – Manufactured Goods Bolstered Export Growth
Trade with Malaysia’s third largest trading partner, the US, grew by 23% to
RM267 billion from the preceding year and constituting 9% of Malaysia’s total
trade in 2022.
Exports to the US posted an all-time record high, rising by 17% to RM167 billion.
The expansion was supported mainly by strong exports of manufactured goods which
increased by 18% to RM164 billion and accounted for 98% of Malaysia’s total
exports to the country. The expansion was backed by higher exports of E&E products,
petroleum products, iron and steel products as well as optical and scientific
equipment.
Imports from the US expanded by 34% to RM100 billion comprising mainly E&E
products, transport equipment as well as machinery, equipment and parts.
The EU – Exports Registered the Highest Value Thus Far
Trade with the EU in 2022 which represented 7% of Malaysia’s total trade, grew by
20% to RM216 billion from the previous year.
Exports to the EU was up by 21% to RM126 billion, the highest value recorded
thus far due to strong exports of manufactured goods which accounted for 88% of
Malaysia’s total exports to the region. Higher exports was seen for E&E products,
Imports from Japan increased by 12% to RM83 billion. Major imports were E&E
products, machinery, equipment and parts as well as manufactures of metal.
FTA Markets – Exports Registered Highest Value
Trade with FTA partners in 2022 recorded a double-digit growth of 26% to RM1.
trillion from a year ago, accounting for 67% of Malaysia’s total trade.
Exports to FTA partners recorded the highest value at RM1 trillion, increased by
25% and absorbed 68% of Malaysia’s total exports. Major export products were
E&E products, petroleum products, chemicals and chemical products, LNG as well as
palm oil and palm oil-based agriculture products which contributed 65% of
Malaysia’s total exports to FTA markets. Exports to all FTA partners recorded
increases except Canada, Peru and Chile.
Export expansion were recorded to Hong Kong SAR, by 24% to RM95 billion and
Mexico (↑44% to RM16 billion), attributed to solid exports of E&E products. Exports
to Turkiye rose by 22% to RM17 billion and Pakistan (↑0% to RM6 billion),
boosted by strong exports of palm oil and palm oil-based agriculture products.
Exports to Australia expanded by 41% to RM48 billion and New Zealand (↑57%
to RM6 billion), led by robust exports of petroleum products. Meanwhile, exports to
the ROK rose by 43% to RM54 billion, driven by higher exports of LNG and India
(↑21% to RM54 billion, crude petroleum).
Imports from FTA partners increased by 27% to RM847 billion comprising mainly
E&E products, petroleum products as well as chemicals and chemical products.
Emerging Export Markets
In 2022, significant growth in exports were recorded to the emerging markets notably
Egypt, Sri Lanka, Mozambique, Papua New Guinea, Togo, Djibouti and Afghanistan.
Exports to Egypt expanded by 25% to RM3 billion, Djibouti (↑118% to RM1.
billion) and Afghanistan (↑76% to RM1 billion), following robust exports of palm
oil and palm oil-based agriculture products. Meanwhile, exports to Sri Lanka climbed
by 14% to RM3 billion, Mozambique (↑32% to RM2 billion), Papua New
Guinea (↑59% to RM2 billion) and Togo (↑69% to RM2 billion), boosted by
strong exports of petroleum products.
Export Performance of Major Sectors
In 2022, exports of manufactured, agriculture and mining goods recorded the highest
value thus far with double-digit growth. Increases in exports were seen for all products
except rubber products as well as crude fertilisers and crude minerals.
Exports of Manufactured Goods Dominated by E&E products
In 2022, exports of manufactured goods accelerated by 22% compared to 2021 to
RM1 trillion, making up 84% of total Malaysia’s exports. E&E products held the
biggest share of total exports at 38%, grew by 30% to RM593 billion. The
increase was driven by robust demand for semiconductors due to acceleration of
global technology upcycle and business digitalisation.
E&E products that recorded significant export growth in 2022 were:
- Electronic integrated circuits, increased by 32% to RM301 billion;
- Parts for electronic integrated circuits, increased by 119% to RM43 billion;
- Apparatus for transmission or reception of voice, images and other data, ↑47%
to RM31 billion;
- Photosensitive semi-conductor devices, ↑29% to RM26 billion; and
- Computers, ↑32% to RM20 billion.
Expansion in exports of E&E products were seen to the US, Singapore, China and
Hong Kong SAR.
- Intermediate goods, valued at RM705 billion or 54% share of total
imports, increased by 29%, due to strong imports of primary fuel and
lubricants;
- Capital goods, amounted to RM120 billion or 9% of total imports, grew by
15%, on account of higher imports of non-transport capital goods; and
- Consumption goods, totalled RM104 billion or 8% of total imports,
expanded by 24%, as a result of growing imports of processed food and
beverages mainly for household consumption.
China remained as the largest import source since 2011, followed by Singapore,
Taiwan, the US and Japan. These markets contributed 54% to Malaysia’s total
imports. Meanwhile, imports from ASEAN was valued at RM319 billion or 24%
share of Malaysia’s total imports and imports from the EU amounted to RM90.
billion with a share of 7%.
TRADE PERFORMANCE FOR DECEMBER 2022
Highest Trade, Exports and Imports for December
Malaysia’s trade remained sturdy in December 2022 with trade, export and imports
registering new record high for the month of December. Trade rose by 8% to
RM236 billion compared to December 2021. Exports increased by 6% to
RM131 billion and imports was higher by 12% to RM104 billion, resulting in a
trade surplus of RM27 billion, a decrease of 11%.
The export expansion was underpinned by higher exports of petroleum products, E&E
products and LNG. Meanwhile, exports to major trading partners notably ASEAN, the
EU and Japan recorded double-digit growth.
Compared to November 2022, exports and trade surplus grew by 1% and 27%,
while trade and imports contracted by 0% and 3% respectively.
Export Performance of Major Sectors
Petroleum Products and E&E Boosted Manufactured Exports
In December 2022, exports of manufactured goods which accounted for 83% of total
exports grew by 4% year-on-year (y-o-y) to RM110 billion, underpinned by
petroleum products and E&E products which respectively posted more than RM
billion increase.
Exports of agriculture goods (8% share) declined marginally by 0% to RM11.
billion compared to December 2021 on the back of lower exports of palm oil and palm
oil-based agriculture products.
Exports of mining goods (7% share) increased by 31% y-o-y to RM9 billion, the
21 st successive month of double-digit growth led by higher exports of LNG.
On a month-on-month (m-o-m) basis, exports of manufactured and agriculture goods
climbed by 0% and 24% respectively while exports of mining goods contracted by
6%.
Performance of Imports
Imports Recorded Double-Digit Expansion Since February 2021
Imports in December 2022 recorded double-digit growth for 23 consecutive months,
rising by 12% to RM104 billion compared to the same month last year. Imports of
intermediate goods grew by 7% to RM54 billion, capital goods (↓2% to RM
billion) and consumption goods (↑17% to RM9 billion).
# Notes:
- It should be noted that, conceptually, the export and import figures in the external trade statistics are different
from that in the goods account of the balance of payments compilation. The compilation of international
merchandise trade statistics is usually based on customs records, which essentially reflect the physical
movement of goods across borders, and follow international guidelines on concepts and definitions i.
International Merchandise Trade Statistics: Concepts and Definitions 2010 (IMTS 2010) which is different from
the principles of the System of National Accounts (SNA) and the Balance of Payments Compilation. Goods
are defined in the SNA as “physical objects for which a demand exists, over which ownership rights can be
established and whose ownership can be transferred from one institutional unit to another by engaging in
transactions on markets”.
- “This is a preliminary release, full details would be published in the “MONTHLY EXTERNAL TRADE
STATISTICS” report by the Department of Statistics, Malaysia, to be disseminated on Friday, 27th January
2023 and can be downloaded through statistic at the Department of Statistics, Malaysia’s portal
(newss.statistics.gov/newss-portalx/ep/epLogin.seam).
- This media release can be accessed through the portal of Malaysian External Trade Statistics, Ministry of
International Trade and Industry (miti.gov) and Malaysia External Trade Development
Corporation (matrade.gov).
- The December 2022 data is provisional and subject to revision in later issue.
- With effect from reference month April 2018, selection of codes for exports and imports of palm oil and palm
oil-based products has been reviewed and revised for better representation of the product and this has
resulted in some changes to the data.
- FTA partners comprises of 22 countries: China, Singapore, Japan, Thailand, Republic of Korea, Indonesia,
India, Australia, Viet Nam, Philippines, New Zealand, Turkiye, Pakistan, Myanmar, Cambodia, Brunei, Chile,
Lao PDR, Hong Kong SAR, Canada, Mexico and Peru.
- With effect from reference month of February 2020, the United Kingdom no longer be a Member State of the
European Union (EU).
- Commencing from reference month of June 2022, Harmonised Commodity description and Coding system
2022 (HS2022) also known as Customs Duties Order (PDK) 2022 was used for the processing of external
trade statistics (merchandise). This coding classification replaced the HS2017 which were in use from April
2017 to May 2022. However, for Standard International Trade Classification (SITC) Rev is still in use with
appropriate update.
- Total figure may not add up due to rounding.
Note: Total figure may not add up due to rounding
TABLE 1: SUMMARY OF MALAYSIA’S EXTERNAL TRADE
Year/
Total
Exports
Total
Imports
Trade
Balance
Total
Trade
Period (RM Million) (RM Million) (RM Million) (RM Million)
2021 f
January 89,676 73,057 16,619 162,734.
February 87,804 69,680 18,124 157,484.
March 105,228 80,867 24,361 186,095.
April 105,630 85,293 20,337 190,924.
May 92,387 78,531 13,855 170,919.
June 105,316 83,217 22,099 188,534.
July 97,124 83,564 13,560 18 0,688.
August 95,379 74,245 21,134 169,624.
September 110,882 84,650 26,232 195,532.
October 114,488 87,905 26,582 202,393.
November 112,670 93,383 19,286 206,054.
December 124,432 92,948 31,484 217,381.
2021 (Jan-Dec)f 1,241,022 987,344 253,678 2,228,366.
2022 p
January 111,068 92,507 18,560 203,575.
February 102,266 82,451 19,814 184,718.
March 131,559 104,911 26,647 236,471.
April 127,584 104,105 23,479 231,689.
May 120,491 107,793 12,697 228,285.
June 146,026 124,162 21,863 270,189.
July 134,073 118,488 15,585 252,562.
August 141,271 124,234 17,036 265,505.
September 144,253 112,415 31,837 256,669.
October 131,586 113,525 18,061 245,111.
November 129,663 107,907 21,756 237,571.
December 131,891 104,131 27,760 236,023.
2022 (Jan-Dec)p 1,551,736 1,296,635 255,100 2,848,372.
Change m-o-m (%) 1 - 3 27 - 0.
Change y-o-y (%) 6 12 - 11 8.
2021 f
Q1 282,709 223,604 59,104 506,314.
Q2 303,335 247,042 56,293 550,377.
Q3 303,386 242,459 60,926 545,845.
Q4 351,591 274,237 77,353 625,828.
2022 p
Q1 344,893 279,871 65,022 624,764.
Q2 394,102 336,061 58,040 730,164.
Q3 419,598 355,139 64,459 774,737.
Q4 393,141 325,563 67,577 718,705.
Change q-o-q (%) - 6 - 8 4 - 7.
Change y-o-y (%) 11 18 - 12 14.
2021 f 1,241,022 987,344 253,678 2,228,366.
2022 p 1,551,736 1,296,635 255,100 2,848,372.
Change y-o-y (%) 25 31 0 27.
TABLE 4: MAJOR EXPORT PRODUCTS (4th QUARTER 2022 )
Products Q
2022 p
Q
2022 p
Q
2021 f
Change
q-o-q
Change
y-o-y
RM Million RM Million RM Million % %
Total Exports 393,141 419,598 351,591 - 6 11.
E&E Products 154,959 155,642 132,156 - 0 17.
Petroleum Products 42,114 56,380 26,778 - 25 57.
Palm Oil & Palm Oil Based
Agriculture Products 22,343 24,924 24,278 - 10 - 8.
Chemicals & Chemical Products 20,583 20,030 19,934 2 3.
LNG 20,236 18,869 11,890 7 70.
Machinery, Equipment & Parts 15,137 16,354 14,381 - 7 5.
Optical & Scientific Equipment 15,136 15,419 13,285 - 1 13.
Manufactures of Metal 13,793 15,502 18,924 - 11 - 27.
Palm Oil-
Based Manufactured Products 9,078 10,557 9,889 - 14 - 8.
Iron & Steel Products 7,817 8,365 9,005 - 6 - 13.
TABLE 5: MAJOR EXPORT MARKETS (4th QUARTER 2022 )
Markets Q
2022 p
Q
2022 p
Q
2021 f
Change
q-o-q
Change
y-o-y
RM Million RM Million RM Million % %
Total Exports 393,141 419,598 351,591 - 6 11.
Singapore 62,253 63,998 48,436 - 2 28.
China 55,185 54,418 55,344 1 - 0.
USA 43,340 44,571 39,996 - 2 8.
Japan 25,373 26,741 20,531 - 5 23.
Hong Kong SAR 23,992 28,045 21,380 - 14 12.
Thailand 16,536 16,468 14,214 0 16.
ROK 14,594 14,396 10,632 1 37.
Indonesia 13,621 17,565 12,050 - 22 13.
Viet Nam 13,577 12,619 13,934 7 - 2.
India 13,145 14,061 14,091 - 6 - 6.
TABLE 6: MAJOR EXPORT PRODUCTS ( 2022 )
TABLE 7: MAJOR EXPORT MARKETS ( 2022 )
Products
2022 p 2021 f Change
RM Million RM Million %
Total Exports 1,551,736 1,241,022 25.
E&E Products 593,494 455,953 30.
Petroleum Products 163,004 96,205 69.
Palm Oil & Palm Oil Based Agriculture Products 96,525 75,811 27.
Chemicals & Chemical Products 80,609 70,683 14.
LNG 67,985 38,192 78.
Manufactures of Metal 63,560 61,556 3.
Machinery, Equipment & Parts 60,453 49,921 21.
Optical & Scientific Equipment 56,694 46,928 20.
Palm Oil-Based Manufactured Products 41,364 32,703 26.
Iron & Steel Products 33,354 29,408 13.
Markets
2022 p 2021 f Change
RM Million RM Million %
Total Exports 1,551,736 1,241,022 25.
Singapore 232,565 173,973 33.
China 210,623 192,474 9.
USA 167,161 142,243 17.
Japan 98,240 75,816 29.
Hong Kong SAR 95,596 76,706 24.
Thailand 65,842 52,162 26.
Indonesia 56,053 39,180 43.
ROK 54,780 38,224 43.
India 54,687 45,202 21.
Viet Nam 53,656 45,627 17.
TABLE 10: MAJOR IMPORT PRODUCTS (4th QUARTER 2022 )
Products Q
2022 p
Q
2022 p
Q
2021 f
Change
q-o-q
Change
y-o-y
RM Million RM Million RM Million % %
Total Imports 325,563 355,139 274,237 - 8 18.
Electrical & Electronic Products 101,908 102,619 91,475 - 0 11.
Petroleum Products 35,237 48,164 25,924 - 26 35.
Chemicals & Chemical Products 27,063 29,667 26,424. 1 - 8 2.
Machinery, Equipment & Parts 23,869 23,806 19,174 0 24.
Manufactures of Metal 15,896 16,204 13,909 - 1 14.
Crude Petroleum 15,779 17,573 2,567 - 10 514.
Transport Equipment 14,411 14,770 8,837 - 2 63.
Optical & Scientific Equipment 7,713 7,602 7,236 1 6.
Processed Food 7,371 7,429 6,883 - 0 7.
Iron & Steel Products 6,817 8,220 9,533 - 17 - 28.
TABLE 11: MAJOR IMPORT SOURCES (4th QUARTER 2022 )
Sources Q 4
2022 p
Q 3
2022 p
Q 4
2021 f
Change
q-o-q
Change
y-o-y
RM Million RM Million RM Million % %
Total Imports 325,563 355,139 274,237 - 8 18.
China 71,408 73,823 61,914 - 3 15.
Singapore 32,280 38,160 27,999 - 15 15.
Taiwan 27,572 30,752 21,658 - 10 .3 27.
USA 25,516 29,480 20,788 - 13 22.
Japan 21,133 22,181 19,769 - 4 6.
Indonesia 16,503 21,225 16,981 - 22 - 2.
ROK 15,492 15,039 15,490 3 0 1
Thailand 13,121 15,155 12,851 - 13 2.
Saudi Arabia 11,867 13,274 3,191 - 10 271.
Australia 11,185 12,136 5,978 - 7 87.
TABLE 12: MAJOR IMPORT PRODUCTS ( 2022 )
Products
2022 p 2021 f Change
RM Million RM Million %
Total Imports 1,296,635 987,344 31.
E&E Products 393,804 314,546. 1 25.
Petroleum Products 148,716 89,546 66.
Chemicals & Chemical Products 115,512 96,550 19.
Machinery, Equipment & Parts 89,376 68,638 30.
Manufactures of Metal 63,853 54,216 17.
Crude Petroleum 52,941 14,130 274.
Transport Equipment 50,982 33,588 51.
Iron & Steel Products 33,438 33,452 - 0 4
Optical & Scientific Equipment 29,851 26,855 11.
Processed Food 29,013 24,857 16.
TABLE 13: MAJOR IMPORT SOURCES ( 2022 )
Sources
2022 p 2021 f Change
RM Million RM Million %
Total Imports 1,296,635 987,344 31.
China 276,504 229,015 20.
Singapore 135,649 93,633 44.
Taiwan 106,069 75,203 41.
USA 100,424 74,727 34.
Japan 83,271 73,942 12.
Indonesia 74,173 56,126 32.
ROK 59,772 50,083 19.
Thailand 56,186 45,383 23.
Australia 39,846 22,562 76.
Saudi Arabia 38,239 12,502 205.
Source: Department of Statistics, Malaysia
Tabulated by: MATRADE
Notes:
p - provisional data
f - final data
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PR202212 ENG - asjfmgh,mcnb
Course: Economic (944)
44 Documents
Students shared 44 documents in this course
University: Kolej Tingkatan Enam Tunku Abdul Rahman Putra
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MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY
MEDIA STATEMENT
MALAYSIA EXTERNAL TRADE STATISTICS
TRADE PERFORMANCE FOR YEAR 2022 AND DECEMBER 2022#
In 2022, Malaysia’s trade continued to demonstrate a remarkable performance and
registered another record-breaking achievement with trade, exports, imports and trade
surplus soaring to a new high. This is a positive reflection that the nation’s trade
performance is on an upward trajectory, boosted by higher external demand and
strong commodity prices.
Trade surpassed RM2 trillion for the second consecutive year and registered the
fastest growth since 1994. Exports reached RM1.552 trillion, exceeding the Twelfth
Malaysia Plan projection for 2025 by 24%, three years ahead of the target.
Meanwhile, imports posted another milestone by surpassing RM1 trillion mark for the
first time. Trade surplus was posted for 25th consecutive year since 1998.
In terms of markets, exports to major trading partners notably ASEAN, China, the
United States (US), the European Union (EU) and Japan registered a new record
high. Significant export growth was also recorded to emerging markets notably Egypt,
Sri Lanka, Mozambique, Papua New Guinea, Togo, Djibouti and Afghanistan.
Similarly, exports to Free Trade Agreement (FTA) partners registered the highest
value thus far. Meanwhile, exports to markets under the Regional Comprehensive
Economic Partnership (RCEP) agreement, which came into force last year, posted
double-digit expansion.
Exports of manufactured, agriculture and mining sectors registered an all-time high
with double-digit growth. This resilient growth was driven by robust exports of
electrical and electronic (E&E) products, petroleum products, liquefied natural gas
(LNG), palm oil and palm oil-based agriculture products, crude petroleum as well as
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