MALAYSIA’S trade value recovered with a double-digit growth of 24.8% to RM2.2 tril in 2021 on (2020: RM1.8 tril) – the fastest growth since 1994 – after recording negative growth for two consecutive years.
This comes about as global trade returned to strength after experiencing the disruption of the global supply chain as well as economic uncertainty triggered by the COVID-19 pandemic.
In this regard, all Malaysian states recorded an increase in total trade dominated by Selangor (+RM112.6 bil), Penang (+RM94.4 bil) and Johor (+RM87.4 bil), according to the Malaysian external trade statistics 2022 issued by the Prime Minister’s Department.
“Malaysia’s exports valued at RM1.24 tril in 2021, weighed up 26% from RM983.8 bil in 2020,” Malaysia’s chief statistician Datuk Seri Dr Mohd Uzir Mahidin pointed out.
“The increase in exports was due to the higher exports by all states, (top three of which are) Selangor (+RM62.8 bil), Penang (+RM49.9 bil) and Johor (+RM47.9 bil).”
Among the top five major exporting states, Penang remained as the top exporter with a share of 29.3% followed by Johor (20.6%), Selangor (19%), Sarawak (6.8%) and the Federal Territory of Kuala Lumpur (3.5%).
“The export expansion was underpinned by strong exports of electronic integrated circuits in Penang,” revealed Mohd Uzir.
“Meanwhile, higher exports recorded in Johor were contributed by refined petroleum products while rubber gloves were the main contributors of exports in Selangor. Liquefied natural gas (LNG) was the main contributor of exports in Sarawak.”
Nevertheless, the spike in exports was slightly offset by a surge in imports which rose 23.3% to RM987.2 bil in 2021 from RM800.5 bil in the previous year.
The top three states with the highest imports were Selangor (+RM49.8 bil), Penang (+RM44.5 bil) and Johor (+RM39.5 bil).
Selangor remained as the largest importer with a share of 27% followed by Penang (23.5%), Johor (20%), Kuala Lumpur (7.3%) and Kedah (5.9%).
“Higher imports recorded in Selangor and Kuala Lumpur were contributed by other electrical and electronic (E&E) products,” noted Mohd Uzir.
“In addition, electronic integrated circuits were the main contributors of imports for Penang and Kedah. Meanwhile, refined petroleum products were the main contributors of imports in Johor.” – June 8, 2022
