KUALA LUMPUR: Malaysia's export performance in 2022 has surpassed the country's projection for 2025 under the 12th Malaysia Plan (12MP), placing it three years ahead of the target, according to Malaysia External Trade Development Corp (Matrade).
The country's trade — exports, imports and trade surplus — also maintained its stellar performance despite a challenging global environment, showing the resilience of the Malaysian business community amid robust global demand and high commodity prices, said chief executive officer Datuk Mohd Mustafa Abdul Aziz.
Malaysia's trade for 2022 reached RM2.8 trillion, exceeding the RM2 trillion mark for the second successive year.
Exports expanded 25% to RM1.6 trillion, surpassing the RM1.5 trillion mark for the first time. Imports, meanwhile, breached the RM1 trillion mark for the first time, reaching nearly RM1.3 trillion in 2022, said Mohd Mustafa.
Malaysia exports high value and competitive range of products to over 200 international markets, he said. In 2022, Malaysia's top 10 export destinations contributed a 87.7% share of total exports.
“Leveraging on the outstanding trade performance, Matrade as the national trade promotion agency, shall strive further to nurture and grow more Malaysian entrepreneurs to venture into exports.
“Matrade has been the main focal point in facilitating Malaysian exporters, ministries, agencies, chambers and associations by connecting them with foreign buyers,” he said.
Matrade's commitment to enhance Malaysia's exports will continue under three main export agendas, namely digitalisation, sustainability and the National Trade Blueprint, Mohd Mustafa said.
For 2023, Matrade has planned many programmes and initiatives to support Malaysia's exporting community, including the Malaysia International Halal Showcase 2023 or Mihas 2023, which will be held from Sept 12 to Sept 15 this year at the Malaysia International Trade and Exhibition Centre.
“…I am optimistic that this exhibition will continue to be a premier international halal trade event, linking global buyers with Malaysian exporters,” Mohd Mustafa said, adding that Matrade's active export promotion efforts will continue to attract more demand for Malaysian products and services globally.
Source : The Edge Markets