Experts analyzing Malaysia’s trade performance in December 2022 point to a significant increase in total trade, with a year-on-year (y-o-y) growth of 8.6 percent, reaching RM236.0 billion. This uptrend is attributed to a 6.0 percent y-o-y rise in exports to RM131.9 billion and a 12.0 percent y-o-y increase in imports to RM104.1 billion, as reported by the Department of Statistics Malaysia (DoSM). According to Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin, this growth contributed to Malaysia’s total trade in 2022 reaching a new milestone of RM2.8 trillion.
State-by-State Trade Performance
A closer examination of the export performance by states reveals that several regions experienced notable growth. Johor, Sarawak, Selangor, Labuan, Negeri Sembilan, Perak, and Kedah were among the states with higher exports in December 2022 compared to the same month in the previous year, with increases ranging from RM184.0 million in Kedah to RM4.3 billion in Johor. Other states, including Melaka, Kelantan, Kuala Lumpur, and Perlis, also saw an increase in exports, albeit at lower amounts. However, a few states, such as Sabah, Pahang, Terengganu, and Penang, experienced a decline in exports, with Sabah’s exports falling by RM1.7 billion.
On the import side, the majority of states, including Johor, Selangor, and Melaka, had higher imports in December 2022 than in the same month the year before, with an overall increase of RM11.2 billion or 12.0 percent. The top five largest exporting states, led by Penang with a share of 30.8 percent, followed by Johor, Selangor, Sarawak, and Kuala Lumpur, accounted for a significant portion of Malaysia’s exports. In terms of imports, Selangor was the biggest contributor, with a share of 27.2 percent, followed by Penang, Johor, and Kuala Lumpur.
Trade Trends and Insights
Specialists note that the increase in Malaysia’s total trade in December 2022 can be attributed to various factors, including the growth in exports and imports. The rise in exports was driven by several states, with Johor, Sarawak, and Selangor being among the top performers. On the other hand, the increase in imports was led by states such as Johor, Selangor, and Melaka. The Chief Statistician, Datuk Seri Dr Mohd Uzir Mahidin, highlighted the significance of these trends, stating that Malaysia’s total trade in 2022 reached a new milestone of RM2.8 trillion.
As Malaysia looks to the future, experts will be watching the country’s trade performance closely, particularly in light of the growth in exports and imports. The upcoming months will be crucial in determining whether this trend will continue, and what factors will influence Malaysia’s trade performance. With the global economy expected to continue its recovery, Malaysia’s trade sector is likely to remain a key driver of growth. As such, it is essential to monitor the performance of the country’s exports and imports, as well as the state-by-state trade trends, to gain a deeper understanding of the underlying factors driving Malaysia’s trade growth.
Looking ahead, it will be important to watch how Malaysia’s trade performance evolves in the coming months, particularly in terms of the growth in exports and imports. The country’s ability to maintain its trade momentum will depend on various factors, including the global economic outlook, trade policies, and the performance of key sectors such as manufacturing and services. As the Department of Statistics Malaysia continues to release new data, experts will be analyzing the trends and insights to better understand the outlook for Malaysia’s trade sector and its implications for the broader economy. With this in mind, the next release of trade data will be closely watched to see if Malaysia can sustain its trade growth and achieve its economic goals.
